tiprankstipranks
Manuka Resources Retracts Revenue Forecast
Company Announcements

Manuka Resources Retracts Revenue Forecast

Manuka Resources Ltd (AU:MKR) has released an update.

Don't Miss Our Christmas Offers:

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deemed significant by the New Zealand government for the economy and export earnings, investors should not rely on the withdrawn revenue forecasts for investment decisions.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.

For further insights into AU:MKR stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Australian Auto-Generated NewsdeskManuka Resources Announces New Security Issue Plan
TipRanks Australian Auto-Generated NewsdeskManuka Resources Extends Debt Facility and Eyes Growth
TipRanks Australian Auto-Generated NewsdeskManuka Resources Unveils Convertible Notes Offering
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App