Manuka Resources Ltd (AU:MKR) has released an update.
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Manuka Resources Ltd has retracted its previous forecast that its vanadium-rich iron sands resource could contribute $1 billion annually to New Zealand’s exports, acknowledging the figure does not comply with regulatory standards and lacks a reasonable basis. The company clarified that while the project is deemed significant by the New Zealand government for the economy and export earnings, investors should not rely on the withdrawn revenue forecasts for investment decisions. Manuka owns significant mining projects in both New Zealand and New South Wales, including the low-cost Taranaki VTM Iron Sands Project and the Mt Boppy gold and Wonawinta silver mines.
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