Australia’s Manuka Resources (MKR), a focused gold and silver producer, announced that it would acquire Trans-Tasman Resources (TTR) after being approved by shareholders.

MKR issued approximately 180 million shares to TTR shareholders, which can help MKR have new capital funds. The value of TTR was about NZ$50 million.

TTR was established in 2007, and it has been working on getting permission for the iron-ore project in South Taranaki Bight.