Shares of Manuka Resources soared as much as 8% to A$0.054, potentially their best day since July 6 if the gains are maintained.

The precious metal mining company reported it made its third payable gold delivery to ABC Refinery on August 3.

Manuka Resources has also started expecting deliveries on a regular weekly basis, as they process various stockpiles from the Mt Boppy gold project.

The key project metrics are in line with original expectations and the company exudes confidence in its ability to achieve target levels of 350 - 450 ounces of gold delivery per week.

The stock of Manuka Resources, however, had fallen by 41.2% this year as of its last closing.

Manuka Resources (ASX:MKR) is an Australia-based mining company focused on precious metal extraction.