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Highlights
Manuka Resources confirms maiden ore reserve at Mt Boppy Mine in New South Wales
Ore to be processed at Wonawinta alongside silver-bearing material
Executive Chair outlines funding options for project development
Gold and silver-focused explorer Manuka Resources (ASX:MKR), listed on the ASX 300, has expanded its production footprint in New South Wales with a maiden open pit ore reserve declared at the Mt Boppy gold project. The addition of gold ounces reinforces the company’s growing Cobar Basin strategy and supports operational continuity at its existing processing hub.
The Mt Boppy project lies within a historically significant gold-producing area and is part of Manuka’s broader regional development plan. The company operates in the well-established Cobar Basin, an area recognised for its long-standing mining infrastructure and support networks.
Reserve adds to gold inventory at Mt Boppy
The declared open pit ore reserve at Mt Boppy marks the first for the site under Manuka's ownership. The reserve is expected to be integrated into the company’s Cobar Basin production schedule and represents a fresh addition to the gold inventory.
Manuka has identified further gold mineralisation within the pit wall and at the base of the pit, which may present further extensions to the mining program. These developments align with the broader strategic framework aimed at extending asset life and maintaining throughput at the company’s facilities.
Processing to continue at Wonawinta plant
Ore extracted from the Mt Boppy reserve is set to be transported to Manuka’s Wonawinta processing plant. This facility already processes silver-bearing ore from open pits located at Wonawinta and now will be used to treat blended gold-silver material.
The integrated processing approach offers logistical efficiency and cost effectiveness. With existing infrastructure in place, the company is positioned to maintain its production cadence without significant capital reallocation.
Flexible funding underpins development options
Executive Chairman Dennis Karp stated that the addition of new gold ounces is a meaningful step for the company’s growth strategy. He noted that Manuka holds optionality in how the Mt Boppy open pit cutback project may be funded, including avenues such as operational free cash flow, joint development partnerships, or structured debt arrangements.
The project, once executed, is expected to play a pivotal role in shaping Manuka’s next stage of gold and silver production, adding value to its Cobar Basin resource base.
Historical context supports asset outlook
Mt Boppy has a longstanding heritage as one of New South Wales’ richest historical gold sites. The mine was previously developed with notable grades, and its redevelopment by Manuka has added further significance to the asset’s lifecycle.
Since restarting operations in 2020, Manuka has mined and hauled gold-bearing ore from Mt Boppy to Wonawinta, reinforcing operational experience and resource conversion. This prior activity supports the execution of the new reserve plan with a foundation of logistical familiarity and regional expertise.
What has Manuka Resources announced for the Mt Boppy Mine?
Manuka Resources has declared a maiden open pit ore reserve at Mt Boppy, adding new gold ounces to its Cobar Basin production plan.
Where will the Mt Boppy ore be processed?
The ore will be transported to Manuka's Wonawinta processing plant, where it will be treated alongside silver-bearing material.
How does Manuka plan to fund the Mt Boppy cutback project?
Funding options include operational free cash flow, joint venture arrangements, or structured debt solutions.
