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Santana Minerals Limited (ASX:SMI)

ALERT: Price-sensitive ASX Announcement for SMI
Current share price for SMI : $0.430 -0.175 (-28.93%)+
Announcement
Release
7 May 2026 7:30AM
Price at Release
$0.605
Full Release
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Summary
Santana Minerals Limited announced that its subsidiary, Matakanui Land Ltd, has received consent from New Zealand's Overseas Investment Office to purchase 3,680 hectares of land for the Bendigo-Ophir Gold Project. This project will involve a direct capital investment of over NZ$500 million and create approximately 350 full-time jobs over its 13-14 year lifespan. The consent is subject to several conditions, including full settlement by the end of 2026 and obtaining necessary resource consents by 2035. The project aims to commence gold production by early 2028.
Key Points
  • Consent granted by New Zealand’s Overseas Investment Office for land purchase for the Bendigo-Ophir Gold Project.
  • Santana Minerals' subsidiary, Matakanui Land Ltd, to acquire 3,680 hectares for project development.
  • Significant investment and employment opportunities expected, with over NZ$500 million in capital investment.
  • Conditions include full settlement by 31 December 2026 and attainment of resource consent by 31 March 2035.
  • Development plan targets first gold production in early 2028.
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.