Extension of TransAsia Debt Facility

Manuka Resources Limited (“Manuka” or the “Company”) is pleased to advise that it has reached an agreement with TransAsia Private Capital Limited (“TransAsia”) to extend the maturity date of its existing debt facility to 31 January 2025.

As previously advised¹, Manuka is executing its development plan to restart production from its 100% owned Mt Boppy gold mine (“Mt Boppy”) located in the Cobar Basin, NSW. The development plan includes a fit-for-purpose low capex processing facility at Mt Boppy to produce gold doré.

In parallel with development works at Mt Boppy, Manuka is advancing a process to refinance the TransAsia debt facility, which has yielded proposals from multiple parties. The extension will facilitate completion of the refinancing process and align this with the restart of Mt Boppy.

Manuka’s Executive Chairman, Dennis Karp, commented:

“Once again, we wish to note our appreciation of the ongoing support provided by TransAsia. They have been an outstanding financing partner for Manuka from 2019 and continue to provide us with the flexibility to ensure a positive outcome for the Company and its growth strategy.”

Over the coming months, the Company anticipates:

1. releasing an updated production forecast for the Mt Boppy gold project

2. completion of the refinancing of the TransAsia debt facility

3. recommencement of mining operations at Mt Boppy; and

4. releasing of a restart feasibility study and Ore Reserve for Wonawinta.

Furthermore, the Company is awaiting feedback on its application to the New Zealand Government with respect to the inclusion of the Taranaki vanadium-titanomagnetite iron sands project (“Taranaki VTM Project”) in the Fast Track Consenting approvals list. Subject to final approvals, the Company will use cashflows from Mt Boppy and Wonawinta to advance the world-class Taranaki VTM Project through a Bankable Feasibility Study and toward an investment decision. Vanadium and titanium have both been included in the NZ Government’s recently released draft Critical Minerals List².

BurnVoir Corporate Finance are acting as Financial Advisors to the Company.

Click here for the full ASX Release

This article includes content from Manuka Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

iron investing silver investing gold investing vanadium investing asx:mkr Gold Investing

MKR:AU

Manuka Resources Limited

Keep reading...Show less

B2Gold Announces Amended Shareholder Return Strategy, including New Dividend Framework and Intention to Implement a Normal Course Issuer Bid

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces amendments to its shareholder returns strategy to increase financial flexibility as it completes its current phase of organic growth, including the anticipated commencement of initial production from Fekola Regional in Mali, the completion of construction of the Goose Mine in Nunavut, Canada, the development of the Antelope deposit at the Otjikoto Mine in Namibia, and de-risking activities at the Gramalote Project in Colombia. All dollar figures are in United States dollars unless otherwise indicated.

New Dividend Framework

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

B2Gold Announces Amended Shareholder Return Strategy, including New Dividend Framework and Intention to Implement a Normal Course Issuer Bid

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces amendments to its shareholder returns strategy to increase financial flexibility as it completes its current phase of organic growth, including the anticipated commencement of initial production from Fekola Regional in Mali, the completion of construction of the Goose Mine in Nunavut, Canada, the development of the Antelope deposit at the Otjikoto Mine in Namibia, and de-risking activities at the Gramalote Project in Colombia. All dollar figures are in United States dollars unless otherwise indicated.

New Dividend Framework

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

B2Gold Announces Total Consolidated Gold Production for 2024 of 804,778 oz, Within the Revised 2024 Guidance Range; Total Gold Production for 2025 Anticipated to be Between 970,000 and 1,075,000 oz; Goose Project Remains On Track for First Gold in Q2 2025 and Total Capital Estimate Remains at C$1,540 Million

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce its gold production and revenue results for the fourth quarter and full year 2024, as well as its 2025 total gold production guidance and 2025 cost guidance for its current operating mines. All dollar figures are in United States dollars unless otherwise indicated.

Q4 and Full Year 2024 Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Kinross to announce 2024 Q4/full-year results and 2025 guidance on February 12, 2025

Kinross Gold Corporation (TSX: K; NYSE: KGC) (the "Company") will release its 2024 fourth-quarter and full-year financial statements and operating results on Wednesday, February 12, 2025, after market close. The Company will also provide its full-year 2025 guidance, mineral reserve, and mineral resource statement as of December 31, 2024, and an exploration and project update. Kinross will hold a conference call and audio webcast on Thursday, February 13, 2025, at 8 a.m. ET to present the results, followed by a question-and-answer session.

The call-in numbers for the conference call on Thursday, February 13, 2025, at 8 a.m. ET are as follows:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Kinross to announce 2024 Q4/full-year results and 2025 guidance on February 12, 2025

Kinross Gold Corporation (TSX: K; NYSE: KGC) (the "Company") will release its 2024 fourth-quarter and full-year financial statements and operating results on Wednesday, February 12, 2025, after market close. The Company will also provide its full-year 2025 guidance, mineral reserve, and mineral resource statement as of December 31, 2024, and an exploration and project update. Kinross will hold a conference call and audio webcast on Thursday, February 13, 2025, at 8 a.m. ET to present the results, followed by a question-and-answer session.

The call-in numbers for the conference call on Thursday, February 13, 2025, at 8 a.m. ET are as follows:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Au Price (US$/oz Au)	Net Cash Flow (US$M)	After-Tax NPV @ 5.0% Discount Rate (US$M)	IRR (%)	Payback Period (years)	Payback Multiple
2,000 ¹	54.92	25.93	11.9	2.2	1.4
2,600 ²	158.32	110.03	34.7	1.4	2.3

Au Price (US$/oz Au)	Net Cash Flow (US$M)	After-Tax NPV @ 5.0% Discount Rate (US$M)	IRR (%)	Payback Period (years)	Payback Multiple
2,100 ¹	14.83	12.67	156.1	0.8	1.1
2,600 ²	28.84	25.22	365.0	0.3	2.2

Au Price (US$/oz Au)	Net Cash Flow (US$M)	After-Tax NPV @ 5% Discount Rate (US$M)	IRR (%)	Payback Period (years)	Payback Multiple
1,900 ¹	651.21	398.66	40.7	2.0	5.2
2,600 ²	1,135.42	715.05	58.8	1.5	8.3

La Colorada - Mineral Reserve & Production Highlights
Mineral Reserves (kt) ¹	18,159
Gold Grade (g/t Au)	0.65
Contained Gold (koz Au)	377
Processing Rate (t/d average) ²	8,292
Life of Mine (years)³	4.1
Annual Production (oz Au per year, 2026)	14,564
Annual Production (oz Au per year, average 2027-2030)	64,309

La Colorada - Financial Highlights
Average Cash Costs (US$ per oz AuEq) ¹	1,549
Average AISC (US$ per oz AuEq) ¹	1,763
Total Initial Capital Cost (US$M) ²	53.9
Total Sustainable Capital Cost (US$M)	9.8
Total LOM Capital Cost (US$M )	63.7

La Colorada Return Estimates based on Gold Price¹
	US$2,000/oz ²	US$2,600/oz ³
IRR (%)	11.9	34.7
NPV @ 5.0% discount (US$M)	25.9	110.0
NPV @ 7.5% discount (US$M)	15.0	91.2
Payback (years)	2.2	1.4

Category	Tonnes (kt)	Gold Grade (g/t)	Silver Grade (g/t)	Gold Contained Metal (koz)	Silver Contained Metal (koz)
Indicated	12,393	0.91	11.94	364	4,758
Inferred	202	0.70	6.07	5	39

Classification	Zone	AuEq Cut-off (g/t)	Tonnes (kt)	Gold Grade (g/t Au)	Silver Grade (g/t Ag)	Contained Gold (koz)	Contained Silver (koz)
Probable	El Crestón	0.160	12,841	0.76	10.1	312	4,181
	Veta Madre	0.175	1,905	0.70	3.1	43	189
	La Chatarrera	0.164	3,413	0.20	6.4	22	704
	Total		18,159	0.65	8.69	377	5,074

Operating Costs	Operating Cost ($/oz AuEq)	Operating Cost ($/t ore)	Operating Cost ($/t mined)
Total mining	1,038.63	17.02	2.06
Total processing	368.21	6.04
Total site general and administrative	68.40	1.12
Refinery and transport	26.37	0.43
Cash operating costs	1,501.61	24.61
Production taxes	27.14	0.44
Royalties	20.00	0.33
Total cash costs	1,548.74	25.39
Capital costs	214.11	3.51
Total AISC	1,762.86	28.90

Capital Costs	Initial (US$ M)	Sustaining (US$ M)	Total LOM (US$ M)
Mine pre-production development	43.40	0.00	43.40
Contractor mobilization	0.21	0.00	0.21
Slope radar system	0.00	0.50	0.50
Leach pad expansion	8.97	2.13	11.10
Total direct costs	52.58	2.63	55.21
Owner costs and reclamation	0.00	6.80	6.80
Indirects and contingency	1.35	0.37	1.72
Total indirect costs	1.35	7.17	8.52
Total	53.93	9.80	63.73

Project Valuation Overview	Units	After Tax	Before Tax
Total cashflow	US$ M	54.92	86.51
NPV @ 5.0% (base case)	US$ M	25.93	49.77
NPV @ 7.5%;	US$ M	14.99	35.82
NPV @ 10.0%;	US$ M	5.90	24.14
Internal rate of return	%	11.9	17.2
Payback period	Years	2.15	2.04
Payback multiple		1.35	1.55
Total initial capital	US$ M	53.93	53.93

Au Price (US$/oz Au)	Net Cash Flow (US$ M)	After-Tax NPV @ 5.0% Discount Rate (US$ M)	IRR (%)	Payback Period (years)	Payback Multiple
1,000	-235.88	-203.08	-	0.0	0.0
1,200	-167.30	-149.64	-	0.0	0.2
1,400	-99.10	-96.46	-31.1	0.0	0.5
1,600	-30.90	-43.29	-7.0	0.0	0.8
1,800	19.43	-3.17	4.2	2.7	1.1
2,000	54.92	25.93	11.9	2.2	1.4
2,200	89.39	53.96	19.4	1.8	1.6
2,400	123.85	82.00	27.0	1.6	1.9
2,600	158.32	110.03	34.7	1.4	2.3
2,800	192.79	137.88	42.3	1.2	2.7
3,000	227.26	165.60	49.7	1.1	3.2

San Agustin - Mineral Reserve & Production Highlights
Mineral Reserves (kt) ¹	7,358
Grade (g/t Au)	0.29
Contained Gold (koz Au)	68
Processing Rate (t/d) ²	17,100
Life of Mine (years) ³	1.2
Annual Production (oz Au per year, average 2026-2027) ⁴	19,091

San Agustin - Financial Highlights
Average Unit Costs (US$ per oz AuEq) ¹	1,605
Average AISC (US$ per oz AuEq) ^{1, 2}	1,990
Total Initial Capital Cost (US$M)	4.2
Total Sustainable Capital Cost (US$M) ²	14.3
Total LOM Capital Cost (US$M)	18.5

San Agustin Return Estimates based on Gold Price ¹
	US$2,100/oz ²	US$2,600/oz ³
IRR (%)	156.1	365.0
NPV @ 5.0% discount (US$M)	12.7	25.2
NPV @ 7.5% discount (US$M)	11.7	23.6
Payback (years)	0.8	0.3

Material Type	AuEq Cutoff (g/t AuEq)	Confidence Classification	Tonnes (kt)	Gold Grade (g/t Au)	Silver Grade (g/t Ag)	Contained Gold (koz)	Contained Silver (koz)
Oxide	0.14	Indicated	17,154	0.30	11.5	165	6,333
Transitional	0.27		700	0.44	17.4	10	391
Sulphide argillic	0.41		5,348	0.80	14.0	138	2,403
Sulphide silicified	0.60		427	0.90	7.4	12	102
Total			23,629	0.43	12.2	325	9,229
Oxide	0.14	Inferred	1,273	0.29	9.2	12	378
Transitional	0.27		5	0.32	25.6	0	4
Sulphide argillic	0.41		121	0.64	9.6	2	38
Sulphide silicified	0.60		2	0.68	6.0	0	0
Total			1,401	0.32	9.4	14	421

Classification	Material Type	AuEq Cut-off (g/t AuEq)	Tonnes (kt)	Gold Grade (Au g/t)	Silver Grade (Ag g/t)	Contained Gold (koz)	Contained Silver (koz)
Probable	Oxide	0.156	7,281	0.29	16.24	67	3,803
	Transition	0.310	77	0.39	31.39	1	77
	Total		7,358	0.29	16.40	68	3,880

Confidence Classification	Area	Oxidation State	Cut-off Grade (g/t Au)	Tonnage (kt)	Gold Grade (g/t Au)	Contained Metal (koz Au)
Indicated	Los Planes	Oxide and transition	0.095	15,839	0.91	461.2
	Los Planes	Sulphide	0.156	26,607	1.10	943.7
	Intermediate	Oxide, transition, and sulphide	0.150	5,239	0.87	146.3
	Las Colinas	Oxide and transition	0.184	1,430	0.69	31.9
	Las Colinas	Sulphide	0.199	6,407	0.77	158.1
	Total	Oxide, transition, and sulphide	0.095-1.99	55,522	0.98	1,741.3
Inferred	Los Planes	Oxide and transition	0.095	5,479	0.34	59.1
	Los Planes	Sulphide	0.156	1,319	0.71	30.2
	Intermediate	Alluvium, oxide, transition, and sulphide	0.150	660	0.43	9.2
	Las Colinas	Alluvium, oxide, and transition	0.184	689	0.49	10.9
	Las Colinas	Sulphide	0.199	579	0.59	11.0
	La Colpa	Alluvium, oxide, and transition	0.120	4,635	0.29	43.9
	La Colpa	Sulphide	0.194	1,597	0.39	19.9
	Total	Alluvium, oxide, transition, and sulphide	0.095-1.99	14,957	0.38	184.4

Material Type	Indicated			Inferred
Material Type	Tonnes (kt)	Gold Grade (g/t Au)	Contained Gold (koz Au)	Tonnes (kt)	Gold Grade (g/t Au)	Contained Gold (koz Au)
Los Planes; oxide, mixed	15,566	0.92	458.0	3,569	0.40	46.3
Los Planes; sulphide	25,276	1.13	918.9	968	0.76	23.7
Intermediate; oxide, mixed	478	0.58	8.9	204	0.40	2.6
Intermediate; sulphide	3,242	0.88	91.3	120	0.44	1.7
Las Colinas; oxide, mixed	1,275	0.69	28.3	313	0.42	4.2
Las Colinas; sulphide	3,574	0.74	84.8	223	0.42	3.0
Total	49,410	1.00	1,590.2	5,397	0.47	81.6

Operating Costs	Operating Cost (US$/oz AuEq)	Operating Cost (US$/t ore)	Operating Cost (US$/t mined)
Total mining	681.41	4.44	2.36
Total processing	699.96	4.56
Total site general and administrative	123.57	0.80
Refinery and transport	38.47	0.25
Cash operating costs	1,543.41	10.05
Production taxes	40.10	0.26
Royalties	21.00	0.14
Total cash costs	1,604.51	10.45
Capital costs	385.59	2.51
Total AISC	1,990.09	12.96

Au Price (US$/oz Au)	Net Cash Flow (US$ M)	After-Tax NPV @ 5% (US$ M)	IRR (%)	Payback Period (years)	Payback Multiple
1,000	-34.64	-31.50	-	-	-
1,200	-24.16	-22.18	-	-	-
1,400	-13.69	-12.86	-	-	-
1,600	-3.22	-3.53	-19.6	-	-
1,800	4.75	3.62	38.2	1.6	0.4
2,000	12.03	10.16	119.8	1.1	0.9
2,100	14.83	12.67	156.1	0.8	1.1
2,200	17.63	15.18	194.8	0.6	1.3
2,400	23.23	20.20	277.4	0.4	1.8
2,600	28.84	25.22	365.0	0.3	2.2
2,800	34.44	30.23	455.6	0.2	2.7
3,000	40.05	35.25	548.3	0.2	3.2

San Antonio PEA - Resource & Production Highlights
Mineral Resource within PEA mine plan
Indicated Mineral Resources (kt)	49,410
Grade (g/t Au)	1.00
Contained Gold (koz Au)	1,590
Inferred Mineral Resources (kt)	5,397
Grade (g/t Au)	0.47
Contained Gold (koz Au)	82
Processing Rate (t/d)	10,960
Life of Mine (years)	13.7
Average recovery rate (% Au)	65.8
Annual Production (oz Au per year, average)	80,268
Life of Mine Production (Moz Au)	1.10

San Antonio PEA - Financial Highlights
Average Unit Cash Costs (US$ per oz Au)¹	898
Average AISC (US$ per oz Au)¹	1,063
Total Initial Capital Cost (US$M)	131.3
Total Sustainable Capital Cost (US$M)	48.6
Total LOM Capital Cost (US$M)	179.9

San Antonio Return Estimates based on Gold Price ¹
	US$1,900/oz ²	US$2,600/oz ³
IRR (%)	40.7	58.8
NPV @ 5.0% discount (US$M)	398.7	715.1
NPV @ 7.5% discount (US$M)	315.1	575.9
Payback (years)	2.0	1.5

Operating Costs	Operating Cost (US$/oz Au)	Operating Cost (US$/t mineralized material)	Operating Cost (US$/t mined)
Total mining	522.78	10.40	2.06
Total processing	204.24	4.06
Total site general and administrative	59.26	1.18
Refinery and transport	16.85	0.34
Cash operating costs	803.13	15.97
Production taxes	76.22	1.52
Royalties	19.00	0.38
Total cash costs	898.34	17.87
Capital costs	165.04	3.28
Total AISC	1,063.39	21.15

LOM Capital Costs	Initial (US$M)	Sustaining (US$M)	Total LOM (US$M)
Mine area	4.36	5.00	9.36
General and administrative infrastructure	72.26	20.50	92.76
Processing	12.81	0.00	12.81
Total direct costs	89.43	25.50	114.93
Owner costs and reclamation	5.00	17.31	22.31
Project indirect costs	16.51	0.00	16.51
Contingency	20.35	5.80	26.16
Total indirect costs	41.86	23.11	64.97
Total	131.28	48.62	179.90

	Gold Production (ounces)
Mine	Q4 2024	FY 2024	FY 2024 Revised Guidance
Fekola	84,015	392,946	420,000 - 450,000
Masbate	49,534	194,046	175,000 - 195,000
Otjikoto	52,452	198,142	185,000 - 205,000
Equity interest in Calibre ⁽¹⁾	-	19,644	20,000
Total	186,001	804,778	800,000 – 870,000

	Q4 2024
Tonnes of ore milled	2,442,390
Grade (grams/tonne)	1.17
Recovery (%)	91.9
Gold production (ounces)	84,015
Gold sold (ounces)	86,453

	Q4 2024
Tonnes of ore milled	2,190,610
Grade (grams/tonne)	0.95
Recovery (%)	74.1
Gold production (ounces)	49,534
Gold sold (ounces)	51,010

Extension of TransAsia Debt Facility

Manuka Resources Limited Investor Kit

GET YOUR FREE INVESTOR KIT

Overview

Company Highlights

Key Projects

Mt Boppy Gold Project

Wonawinta Silver Mine Project

Taranaki VTM Project

Management Team

Dennis Karp – Executive Chairman

Alan Eggers – Executive Director

Anthony McPaul – Non-executive Director

John Seton – Non-executive Director

Rod Griffith – Mining and Technical Consultant

Phil Bentley – Chief Geologist

Latest News

Manuka Resources Limited Investor Kit

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

TOP STOCKS

	Q4 2024
Tonnes of ore milled	788,536
Grade (grams/tonne)	2.10
Recovery (%)	98.6
Gold production (ounces)	52,452
Gold sold (ounces)	50,330

Guidance (100% Basis) ⁽¹⁾	Fekola Complex ⁽²⁾	Masbate	Otjikoto	Existing Operations Total	Goose		Other	Operations & Projects Total
Period	Full Year	Full Year	Full Year	Full Year	H1	H2 ⁽³⁾	Full Year	Full Year
Gold Production (koz)	515 – 550	170 - 190	165 – 185	850 - 925	-	120 - 150	-	970 – 1,075
Cash Operating Costs ($/oz produced)	845 - 905	955 – 1,015	695 – 755	835 – 895 ⁽⁴⁾	-	-	-	-
Sustaining Capital Expenditures ($M)	77	22	13	112	8	-	-	120
Deferred Stripping / Underground Development ($M)	120	8	16	144	-	-	-	144
Sustaining Mine Exploration Expenditures ($M)	4	-	-	4	-	10	-	14
General & Administrative (incl. Stock Based Compensation) ($M)	15	7	6	28	-	-	66	94
All-In Sustaining Costs ($/oz sold)	1,550 – 1,610	1,310 – 1,370	980 – 1,040	1,460 – 1,520 ⁽⁴⁾	-	-	-	-
Growth / Construction Capital Expenditures ($M)	16	17	-	33	101	-	28	162
Deferred Stripping / Underground Development ($M)	21	-	10	31	69	-	-	100
Growth Exploration Expenditures ($M)	5	3	7	15	15	7	11	48
Total Growth / Non-Sustaining Capital Expenditures ($M)	42	20	17	79	185	7	39	310