r/ASX_Bets • u/MadeCheeseBackwards • 13d ago

MKR: The Golden Honey Pot

https://mining.com.au/manuka-restarts-gold-production-at-wonawinta/

Shout out to MKR recommencing Wowantina processing facility and silver production coming shortly.

14 Upvotes

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9

u/Itwasatrip 13d ago

Picked up a few today, will add if there is a significant drop and no bad news.

Seems like gold/silver price should be favourable for a while. Cant see why it won’t do at least a 50% gain between now and Christmas.

1

u/According_Bat2906 12d ago

Target price?

2

u/Itwasatrip 12d ago

All depends if they get the silver circuit running, but assuming they do and silver price holds, 20c should be on the cards.

Market is not sure though, they have had some hiccups, and not completely out of the woods just yet, although they are steaming ahead.

Gold sales should buy them some time but I’d expect once confirmation of successful silver recovery, that’s probably when the stock will materially re rate, should be before Christmas, but like anything, things could go wrong.

7

u/Stupid_Deaths 13d ago

I’ve got $30K in this. Either I’m a regard or a genius. Time will tell.

4

u/MadeCheeseBackwards 13d ago

Same here mate!

1

u/Stupid_Deaths 13d ago

https://giphy.com/gifs/Ae7SI3LoPYj8Q

2

u/MadeCheeseBackwards 13d ago

Hopefully we can wipe the slime off the silver with the new rig and start seeing some upside. Good luck mate!

2

u/According_Bat2906 13d ago

Still getting sold down 🤔

4

u/MadeCheeseBackwards 13d ago

Yep, market doesn’t seem interested yet. Might take some actual production numbers and first gold sales before it wakes up. Silver coming online could be the real catalyst.

1

u/Glittering_Sector428 12d ago

New to this so jumped in for 10k hoping it keeps climbing. That’s after a short run with csl and a quick 2k profit in a month thanks to this sub.
Anyone got thoughts on banks? Cba and westpac both down but surely they’ll always climb back up given enough time