Manuka Resources

Restart of Mount Boppy Gold Mine - Execution Update

Manuka Resources Limited (“Manuka” or the “Company”) is pleased to provide a progress update on the restart of gold doré production from its 100% owned Mt Boppy gold mine (“Mt Boppy”) located in the Cobar Basin, NSW (Figure 1).


Highlights

 
  • Manuka is executing a strategy to construct a fit-for-purpose processing and gold doré production facility at its 100% owned Mt Boppy gold mine.
  • Previously, ore from Mt Boppy had been hauled to and processed at the Company’s CIL plant located at the Wonawinta Silver Mine (“Wonawinta”) 150km south of Mt Boppy.
  • Mt Boppy is forecast to be a low capex (A$11.6M), high margin (~A$19M EBITDA per annum) operation1.
  • Relocation of the existing 400kW ball mill located at Wonawinta to Mt Boppy has commenced. The ball mill is surplus to requirements at Wonawinta where a 1800kW ball mill has been previously installed.
  • Acquisition of a second-hand Inline Pressure Jig (IPJ) and Intensive Leach Reactor (ILR) has resulted in approximately A$850k savings versus that originally budgeted. The purchased equipment is currently undergoing refurbishment at Gekko Systems, the original equipment manufacturer.
  • The Company is currently investigating opportunities to increase milling capacity and accelerate gold production at Mt Boppy.
  • The Company is targeting first gold production from Mt Boppy in Q4 2024.
 

Dennis Karp, Manuka’s Executive Chairman, commented:

“The execution of our plan to restart gold operations at Mt Boppy is well underway.

The opportunistic purchasing of selected second-hand processing equipment is consistent with our low capex strategy that includes the leveraging and repurposing of existing assets including the Wonawinta 400kW ball mill, diesel generators, 48-man accommodation camp and mobile screening plant.

We look forward to providing regular updates to the markets as we progress towards first gold production at Mt Boppy.

Figure 1: Location of Manuka’s Mt Boppy and Wonawinta Project within the Cobar basin.

Background

The Mt Boppy gold mine is an existing gold operation comprising a brownfields open pit and associated historic ROM stockpiles, rock dumps and tailings.

In April 2024, Manuka announced a strategy whereby a fit-for-purpose processing and gold production facility would be established at Mt Boppy for a capital cost A$11.6M to generate an average EBITDA of ~A$19M per annum over an initial 5-year period2.

A sonic drilling program over the Main Rock Dump and Tailings Storage Facility 3 (“TSF3”) was completed in late 2023 which improved confidence in Resource3 grade and ore type distribution and underpins the updated production strategy.

Previously, ore mined by Manuka at Mt Boppy had been hauled 150km to the CIL process plant located at Wonawinta at a cost of ~A$27/t. The updated strategy of on- site processing is expected to save in the order of A$7M per annum.


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.

MKR:AU
Manuka Resources

Manuka Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Manuka Resources Limited

Manuka Resources


Keep reading...Show less

Near-term production from both its silver and gold projects located in the Cobar Basin, Central West, New South Wales

Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Manuka Resources

Manuka Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×