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Santana Minerals Ltd. ( (AU:SMI) ) has shared an announcement.
Santana Minerals Ltd reported significant progress in its Bendigo-Ophir Gold Project, highlighted by the completion of a Pre-feasibility Study which forecasts a robust potential development with an annual gold output of 125,000oz over nine years. The rising gold prices have increased the project’s financial metrics, enhancing its net present value and internal rate of return. The company is actively working on reducing pre-production costs through detailed engineering and development strategies, while also advancing its exploration efforts. Additionally, the project has received fast-track status, facilitating quicker approval processes. On the corporate side, a 3-for-1 share split was approved to enhance stock liquidity, and the company ended the quarter with a cash balance of approximately A$31 million.
More about Santana Minerals Ltd.
Santana Minerals Ltd is a company operating in the mining industry, primarily focusing on the exploration and development of gold projects. Its key project is the Bendigo-Ophir Gold Project in New Zealand, which has a significant market focus on gold production.
YTD Price Performance: -1.04%
Average Trading Volume: 1,335,587
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$307.2M
Find detailed analytics on SMI stock on TipRanks’ Stock Analysis page.
