Manuka Resources Limited has provided fresh details on its financing progress and production strategy centered on its Cobar Basin silver and gold assets. The company has completed independent technical and legal due diligence, and it is now evaluating term sheets received from multiple party financiers. The proposed financing will facilitate the refinancing of existing debt along with funding needed to restart operations at the Wonawinta processing plant, with production expected to resume in the new year following a planned capital expenditure of approximately A$18.9 million. Current market conditions, with silver and gold spot prices rising, have boosted the net present value of the Cobar Basin production plan to an estimated A$153 million. Manuka has outlined a robust 10-year production plan targeting 10.7 million tonnes of material that contains around 19.2 million ounces of silver and associated gold credits. Key technical details include an assumed silver price of A$50 per ounce paired with an average all-in sustaining cost of A$35 per ounce, yielding a projected average EBITDA of around A$22 million per annum, an internal rate of return of 109%, and a net present value of A$101 million. In addition, existing security shares held by GAM Company Pty Ltd have been acquired by a prominent investor, and related convertible notes have been eliminated, which strengthens the company’s financial position. In parallel, Manuka is assessing the potential to re-optimize the Mt Boppy Gold Mine by conducting a feasibility study on an open pit cut-back. With an established mineral resource of approximately 0.4 million tonnes at around 4.23 g/t gold, this opportunity could unlock an additional 53.5 thousand ounces of gold. The historic significance of Mt Boppy as one of New South Wales’ richest gold sites is underscored by its past production of nearly 500,000 ounces of gold, and successful re-optimization could add considerable value to the overall Cobar Basin production strategy. The market reaction to the news is balanced. On the bullish side, investors may be encouraged by the strong technical fundamentals, attractive financial metrics including high IRR and NPV values, and the proactive steps Manuka is taking to secure financing and enhance asset value. The planned restart of the Wonawinta processing plant and potential for high-margin gold production at Mt Boppy are seen as significant value drivers. Conversely, from a bearish perspective, execution risk remains a concern as the company advances its financing discussions and re-optimization studies, and delays or cost overruns in completing the plant restart or cut-back project could impact near-term performance. Overall, Manuka Resources Limited’s strategic initiatives appear promising, yet careful monitoring of implementation remains crucial for investors.