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Manuka Resources Draws Down Second Tranche of $30 Million Senior Secured Term Facility, Shares Jump 9%

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Manuka Resources (ASX:MKR) fully drew down the second tranche of the $30 million senior secured term facility with Nebari Natural Resources Credit Fund II, equivalent to $4 million, with the funds received on June 26, according to a Monday Australian bourse filing.

Nebari was issued with 8.2 million warrants over unissued new shares in Manuka, with an exercise price of AU$0.1357, in consideration for the drawdown.

The drawdown will provide additional funding for the Wonawinta silver mining and Canbelego gold mining projects.

Its shares rose 9% in recent trading on Monday.

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