Manuka Resources: Raises $5m for its Mt Boppy and Wonawinta projects

Manuka Resources Raises $5m for its Mt Boppy and Wonawinta projects

• Manuka Resources (MKR) receives firm commitments to raise $5 million through a placement for its Mt Boppy and Wonawinta projects
• The company will issue about 16.7 million new shares at an issue price of 30 cents each
• This represents an 11 per cent discount to the last closing price and an 8.2 per cent discount to the 10-day volume weighted average price
• The funds will be used for a smooth transition from Mt Boppy gold production to Wonawinta silver production, ongoing exploration drilling and general working capital
• Shares are trading 2.94 per cent lower today at 33 cents each