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Santana Minerals Limited (ASX:SMI)

ALERT: Price-sensitive ASX Announcement for SMI
Current share price for SMI : $0.540 0.1 (22.73%)+
Announcement
Release
29 Jul 2026 9:25AM
Price at Release
$0.440
Full Release
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Summary
Santana Minerals Limited reported significant progress for the fourth quarter of the 2025/2026 financial year, focusing on the Bendigo-Ophir Gold Project (BOGP) in New Zealand. Key achievements included advancing the Fast-track Approvals process, securing New Zealand Overseas Investment Office consent for land acquisitions, and completing the second tranche of a A$130 million equity placement. The company enhanced exploration efforts, discovering extended mineralisation at the Rise & Shine (RAS) development site. With a cash balance of approximately A$188 million, Santana is well positioned for project financing and workforce accommodation, moving toward a development decision. The company aims to establish a long-life, high-margin gold operation, supported by a robust economic forecast in the Updated Pre-Feasibility Study.
Key Points
  • Progress on Bendigo-Ophir Gold Project (BOGP) consent application.
  • Completion of expert conferencing phase in the Fast-track Approvals process.
  • Secured New Zealand Overseas Investment Office consent for land purchases.
  • Construction of new administration building and accommodation facilities.
  • Discovery of extended mineralisation at the Rise & Shine site.
  • Completion of second tranche of A$130 million equity placement.
  • Cash balance of approximately A$188 million at quarter end.
  • Advancement of project financing activities toward Final Investment Decision.
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.