Manuka Resources Share Price: Restarting Gold Production and Eyeing the Seabed
Manuka Resources Share Price Today
The Manuka Resources share price sits at about $0.107 NZD (NZX: MKR) in mid-June 2026, up nearly 5% on the day. With a market cap near $170 million, Manuka is a dual ASX and NZX-listed resources company that is further along than a pure explorer: it has Australian mining assets it is restarting, plus a large and controversial New Zealand seabed project.
That gives Manuka two distinct stories, one near-term and producing, one long-term and speculative.
What Manuka Resources Does
Manuka has two main legs:
- •Cobar Basin (Australia): Gold and silver assets in New South Wales, including the Mt Boppy gold project and the Wonawinta silver project. Manuka has outlined a multi-year mine plan and signalled a restart of gold and silver production, targeting meaningful ounces over a roughly 10-year horizon. This is the nearer-term, cash-generating part of the business.
- •Taranaki VTM Project (New Zealand): A very large vanadium-titanium-magnetite (VTM) iron-sands resource on the seabed off Taranaki. A pre-feasibility study outlined production of critical-minerals-bearing iron-ore concentrate from seafloor deposits, and the project has been progressing through New Zealand's fast-track approvals process.
The seabed project shares the regulatory and environmental challenges of other NZ seabed-mining ventures like Chatham Rock Phosphate, where consent, not geology, is the binding constraint.
Key Metrics
- •Share price: ~$0.107 NZD
- •Market cap: ~$170 million NZD
- •Net result: a loss (developing, pre-sustained-production)
- •P/E ratio: not meaningful (lossmaking)
- •Gross dividend yield: 0%
- •Listings: ASX (primary) and NZX (foreign exempt)
Manuka is valued more highly than the tiny NZ explorers because it has tangible, defined assets and a credible path to near-term production from Cobar. But it is still lossmaking as it transitions toward producing.
The Two-Sided Bet
Manuka offers a blend that is unusual: a relatively de-risked restart of established Australian gold and silver mines, which could generate cash, paired with optionality on a huge but contentious NZ seabed critical-minerals project. The gold and silver restart benefits directly from firm precious-metals prices. The Taranaki VTM project is the bigger prize but carries the same heavy regulatory and environmental risk that has stalled seabed mining in New Zealand before.
What to Watch
- •Cobar production restart: Actual gold and silver output, and the cash it generates, is the key near-term proof point.
- •Precious-metals prices: Gold and silver prices directly drive the economics of the Australian assets.
- •Taranaki fast-track decision: Progress, or setbacks, on consent for the seabed VTM project is the major long-term catalyst and risk.
- •Funding: Restarting mines and advancing a seabed project both need capital. Watch for raises and dilution.
The Bottom Line
Manuka Resources is a developing resources company with a near-term Australian gold and silver restart and long-term optionality on a large New Zealand seabed critical-minerals project. The bull case is cash flow from reviving established mines plus big upside if the Taranaki VTM project clears its regulatory hurdles. The bear case is that it is still lossmaking, the production restart must be delivered, and the seabed project faces the same daunting consent risk that has stymied peers. This is a higher-risk resources stock for investors comfortable with mining execution and regulatory uncertainty.
For how we approach mining developers and seabed projects, see our methodology.
*Disclaimer: This article is for educational and informational purposes only. It does not constitute financial advice. Stock data may not be real-time. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.*