Highlights

  • Manuka Resources shares spiked 11.46% on 2 March 2026, following a critical financing update.
  • The company secured a USD 30 million senior secured term facility with Nebari Natural Resources.
  • Existing debt of AUD 19 million has been fully repaid, streamlining the balance sheet.
  • Funding confirms Manuka is now "fully funded to production" for silver and gold projects.

Manuka Resources Ltd (NZX:MKR) saw its share price climb 11.46% to NZD 0.18 during trading on 2 March 2026, as investors reacted to a transformative funding announcement. The stock’s upward trajectory continues a period of exceptional performance, with shares now up 118.75% over the past year. Today’s rally was sparked by the finalisation of a substantial debt facility that clears the path for the company to resume its status as a major precious metals producer.

Strategic Debt Refinancing Clears the Path to Production

The company confirmed it has entered into definitive documentation for a USD 30 million senior secured term facility with the US-based global resource fund, Nebari Natural Resources Credit Fund II, LP (Nebari). This facility marks a significant expansion from the initially proposed USD 22.5 million announced in late 2025.

A primary driver of investor confidence was the immediate strengthening of the company’s financial position. Manuka has utilized the initial proceeds to completely extinguish its prior senior secured debt of approximately AUD 19 million.

With the previous debt cleared and the new facility in place, the total senior secured amount owing will be USD 30 million once fully drawn. The first tranche of funds was successfully received on 27 February 2026.

Returning to Australia’s Silver Spotlight

The capital injection is specifically earmarked to propel the Wonawinta silver project and the Canbelego gold project toward active production. Management has signaled that this funding is the final piece of the puzzle required to execute their Q2 commencement strategy.

Manuka’s Managing Director and Executive Chairman, Mr. Dennis Karp, highlighted the significance of the timing, noting that the financial resources are now in place to capitalize on the current precious metals commodity price cycle. The company aims to reclaim its position as the largest primary producer of silver in Australia through the restart of Wonawinta operations.

Key Terms of the Nebari Facility

The four-year loan agreement is secured against all of Manuka’s assets. To align with the ramp-up of mining operations, the facility features a structured repayment schedule:

  • Principal Repayments: Commencing after an 18-month grace period.
  • Interest: Managed through monthly payments.
  • Warrants: As part of the Tranche 1 funding, Nebari has been issued 36,423,612 warrants with an exercise price of AUD 0.2004, expiring in February 2030.

Nebari’s Managing Director, Richard Gaze, expressed favourable confidence in the quality of Manuka's assets, emphasizing a collaborative approach to delivering the Wonawinta restart.

What This Means for Investors?

By securing a "fully funded" status, the company has removed the immediate uncertainty surrounding capital requirements for production. The transition from an explorer/developer back into a producer of both gold and silver—at a time of favourable commodity pricing—positions the company for a potential step-change in valuation as it hits its Q2 milestones.

Frequently Asked Questions (FAQs)

  1. Why did Manuka Resources shares rise on 2 March 2026?

Shares jumped 11.46% after the company announced it had secured a USD 30 million facility with Nebari, fully funding the company through to production at its silver and gold projects.

  1. How much debt did Manuka Resources repay?

The company used the new facility to fully repay its existing senior secured debt facility of approximately AUD 19 million.

  1. What are the key projects supported by this funding?

The funds are dedicated to the Wonawinta silver mining project and the Canbelego gold mining project, with production expected to commence in Q2.