Manuka Resources Limited (ASX:MKR), an Australian precious metals producer focused on the exploration, development, and mining of gold and silver assets in the Cobar Basin of New South Wales, announced on September 7, 2026, it has secured firm commitments to raise A$14.5 million. This capital raise, via a placement to institutional, sophisticated, and professional investors, will fund the completion and commissioning of its Wonawinta silver de-slime circuits and provide working capital during production ramp-up.
The placement, involving approximately 207 million new shares at A$0.07 each (a 10.3% discount to the September 2, 2026 closing price), received strong investor support. This additional capital addresses increased project costs, including freight and installation, and an approximate three-month timeline extension. Funds include A$8.5 million for de-slime circuit commissioning and A$5.25 million for working capital.
Manuka has recommenced gold processing at its Wonawinta facility, utilising gold-bearing ore from its Mt Boppy Gold Mine, targeting first gold sales by the end of September 2026. Construction of the Wonawinta crushing and de-slime circuits is expected in the fourth quarter of 2026, with commissioning planned for December 2026. This timing aims to maximise near-term gold revenues before introducing silver ore, with first silver revenues targeted from January 2027. The company will also offer eligible shareholders a share purchase plan to raise up to a further A$1 million.
Executive Chairman Dennis Karp noted the encouraging investor support, prioritising gold production ramp-up while finalising silver operations. He conveyed consistent precious metal revenues are a near-term reality for Manuka, also mentioning optimism for the upcoming Pipeline Ridge gold project resource release.
