InvestSMART

Santana Minerals Limited (ASX:SMI)

ALERT: Price-sensitive ASX Announcement for SMI
Current share price for SMI : $0.573 -0.348 (-37.77%)+
Announcement
Release
16 Oct 2025 10:24AM
Price at Release
$0.920
Full Release
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Summary
Santana Minerals Limited has completed a strategic acquisition of freehold lands integral to its Bendigo-Ophir Gold Project. This acquisition includes the Bendigo Station land, key for planned mining operations, and extinguishes significant net smelter return royalties which will enhance project economics. The agreement also secures water supply infrastructure, advancing the project towards production, while fostering collaborative relations with local farming enterprises. The financial transaction is to be supported by Santana’s existing funds, subject to regulatory consents.
Key Points
  • Santana Minerals Limited acquires key freehold land for Bendigo-Ophir Gold Project.
  • Extinguishment of 1.25% NSR royalty over the first million ounces of gold.
  • Additional 92 hectares purchased for water supply infrastructure.
  • The transaction enhances project economics and lowers operating costs.
  • Agreement aligns with existing access agreements with pastoralists.
  • Settlement subject to regulatory consents and approvals.
  • Santana to use existing cash reserves for transaction settlement.
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.