Manuka Resources Limited (ASX: MKR), a company focused on precious metals, is undertaking a fully underwritten non-renounceable entitlement offer to raise approximately A$8.0 million before costs. Manuka’s primary operations involve the exploration, development, and production of gold and silver resources. The funds raised are intended to advance key workstreams, including the restart of the Wonawinta processing plant and commencement of the company’s 10-year Cobar Basin Production Plan.
The offer price is set at A$0.043 per new share, representing a 2.5% discount to the last closing price. Eligible shareholders, those with a registered address in Australia or New Zealand as of 7pm (Sydney time) on 17 July 2025, will be offered 2 new shares for every 9 shares held. The entitlement offer is expected to open on 22 July 2025 and close on 31 July 2025.
Executive Director Dennis Karp expressed his satisfaction with the fully underwritten offer, highlighting the confidence shown by investors in Manuka’s assets and near-term precious metals production plan. He emphasized the invitation for existing shareholders to participate at what he believes is a turning point for the company. The raised funds will also be used for the repayment of debt and continued progression of Trans-Tasman Resources through the New Zealand Fast-track approval process.
The Entitlement Offer is fully underwritten by Claymore Capital Pty Ltd. Lithuanian-Australian businessman Antanas Guoga and another investor have provided sub-underwriting commitments. Manuka Resources is targeting the recommencement of silver and gold production early in the first quarter of calendar year 2026.
