Manuka Resources Limited Analysis

Overview

Manuka’s strategic focus is led by its wholly owned New Zealand subsidiary, Trans-Tasman Resources Limited (TTR), which is advancing the Taranaki VTM Project through the New Zealand Government’s Fast Track Approvals process.

The Project is expected to be a top-tier contributor to New Zealand’s export economy and deliver long-term regional and national economic benefits.

In parallel, Manuka is preparing to recommence production from its Australian-based assets — the

Wonawinta Silver Mine and the Mt Boppy Gold Project. Both projects are fully permitted and supported by a 1Mtpa centralised processing plant at Wonawinta. The Company recently announced JORC-compliant Ore Reserves at both projects, including a July 2025 open pit Probable Reserve at Mt Boppy of 290kt @ 4.2g/t Au for ~39,100oz, underpinning the staged restart of operations.

Performance

The following information was extracted from Manuka Resources Limited half year report, released 17 March 2026:

Financial Summary The loss for the consolidated entity for the half-year ended 31 December 2025 was $12,875,283 (2024 Loss: $8,369,652). As at 31 December 2025, the consolidated entity had $2,439,885 in cash. In addition, the Company had the ability to draw down an additional $6.0m available in short term liquidity. As at time of writing, the Company has $11.1m in cash plus an additional $9.3m available in short term liquidity.