Manuka Resources Hits Gold Revenue Milestone as Wonawinta Restart Takes Shape

Manuka Resources has made significant strides in its restart of the Wonawinta processing facility in western New South Wales, Australia. The company received its first gold revenue from the facility on August 22, using gold-bearing material from the Mt Boppy gold project.

The value of the first sale was not disclosed, but Manuka expects fortnightly revenue of $3-4 million through the end of 2026 at a gold price of $6000 per ounce. The next shipment is due on October 15.

Manuka Resources executive chairman Dennis Karp stated that the transition to combined production, which will include silver processing, is where 'the real scale of the opportunity' emerges for the company. He emphasized that the first gold sale marks an important step in delivering on this strategy and establishing recurring cash inflows from the operation.

The company has invested heavily in Wonawinta, including expanding its workforce to over 80 employees and refurbishing and re-commissioning the site's processing plant. Manuka is also evaluating a possible satellite gold prospect at Pipeline Ridge, located 120km from the Wonawinta facility. Initial reverse-circulation drilling returned high-grade assays, including 32m at 7.98g/t gold from 34m.