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Santana Minerals Limited (ASX:SMI)

ALERT: Price-sensitive ASX Announcement for SMI
Current share price for SMI : $0.473 -0.203 (-30%)+
Announcement
Release
28 Apr 2026 7:30AM
Price at Release
$0.675
Full Release
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Summary
Santana Minerals Limited released its Quarterly Activities and Cashflow Reports for the period ending March 31, 2026. The company reported significant progress in the Bendigo-Ophir Gold Project (BOGP) in New Zealand, including the achievement of a Road Access Agreement with the Central Otago District Council, the establishment of a community fund, and the completion of major mining fleet agreements. The company also conducted successful drilling operations at Rise and Shine (RAS), which extended mineralization beyond current estimates. To support the BOGP's development, Santana completed a two-tranche capital raising of A$130 million and advanced its project financing efforts. The company's quarterly cashflow report showed a closing cash balance of A$184 million, with significant investments in exploration and project development. Santana's entry into the S&P/ASX 300 Index was noted, reflecting its increased market capitalization and institutional relevance.
Key Points
  • Significant progress in Bendigo-Ophir Gold Project (BOGP).
  • Road Access Agreement with Central Otago District Council completed.
  • Community fund of NZ$1.25 million per annum established.
  • Major mining fleet agreements with Komatsu finalized.
  • Successful drilling operations at Rise and Shine (RAS) extended mineralization.
  • Two-tranche capital raising of A$130 million completed.
  • Advanced project financing efforts with lender-ready materials prepared.
  • Quarterly cash balance of A$184 million reported.
  • Investments in exploration and project development amounted to $14.7m.
  • Entry into S&P/ASX 300 Index noted.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.