Manuka Resources restarts Mt Boppy gold mine with low capex strategy

Manuka Resources Limited (ASX: $MKR) is making progress in the restart of gold doré production from its 100% owned Mt Boppy gold mine located in the Cobar Basin, NSW. The company is executing a low capex strategy to construct a fit-for-purpose processing and gold doré production facility at Mt Boppy, targeting first gold production in Q4 2024.

Executive Chairman's Commentary on Mt Boppy Gold Mine Restart

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

Summary of Mt Boppy Gold Mine Restart and Future Plans

Manuka Resources is progressing with the restart of gold doré production at Mt Boppy gold mine with a low capex, high margin strategy. The company aims to achieve first gold production in Q4 2024 and is investigating opportunities to increase milling capacity and accelerate gold production. Additionally, the company is well progressed on a process to refinance the existing debt facility and is considering adopting a parallel processing stream strategy to increase process plant throughput. Manuka Resources continues to focus on its corporate strategy to enhance the economics of the Mt. Boppy Mine and the value of near-mine prospects.