Manuka Resources is preparing to restart gold and silver production in the Cobar Basin in the June quarter of 2026.
The miner said it is on track to bring its 100 per cent owned Wonawinta silver operation and Mt Boppy gold mine back into production, leveraging existing infrastructure and approvals to deliver near-term cashflow.
The restart follows a period of care and maintenance and comes amid strengthening gold and silver markets, with Manuka remaining completely unhedged to commodity prices. First production is anticipated in the second quarter (Q2) of 2026 following a six-month refurbishment and upgrade of the 1 million tonne per annum (Mtpa) Wonawinta processing plant.
Planned works include the addition of a front-end deslime and dewatering circuit designed to improve mill throughput and leach performance.
Production will initially be sourced from existing silver and gold-bearing run-of-mine (ROM) stockpiles adjacent to the Wonawinta plant, before transitioning to open pit mining across multiple deposits in the Cobar Basin.
Gold ore from Mt Boppy stockpiles will be hauled to Wonawinta and blended with silver ore during the first two years of production to generate a payable gold credit.
The restart is underpinned by a ten year mine plan targeting 19 million ounces of silver and 46,000 ounces of gold, with restart capital costs estimated at $18.9 million. Steady-state production is expected by late Q2 to early Q3 2026.
Operational readiness has been strengthened with the appointment of Rod Griffith as executive general manager of operations, commencing in late January.
Griffith will oversee the processing plant upgrade and the restart of silver production at Wonawinta, as well as operations at Mt Boppy.
He brings more than 30 years of mine development, management and engineering experience across Australia and Indonesia and has previously worked with Manuka, providing detailed knowledge of the assets and region.
Under updated commodity price assumptions, Manuka’s Cobar Basin production plan delivers average earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about $106 million per year and a project NPV of $662 million.
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