Manuka Resources (NZE:MKR, ASX:MKR) said it is on track to start gold and silver production at the Wonawinta silver mine in New South Wales during the fiscal second quarter, according to a Wednesday filing with the Australian and New Zealand bourses.

The company expects production restart costs at the mine, which is currently on active care and maintenance, of about AU$18.9 million, the filing said.

It sees average earnings before interest, taxes, depreciation and amortization of about AU$106 million at the mine, resulting in a net present value of AU$668 million, with an about 1,096% internal rate of return, the filing added.

In the same filing, the multi-commodity developer said it expects a decision on the fast-track approvals process for its Taranaki VTM project in New Zealand on March 18, and to start a bankable feasibility study at the project this year.

The company's Kiwi shares rose past 4% in recent Wednesday trade, hitting a 52-week high.