Santana Minerals Ltd. (AU:SMI) has released an update.
Santana Minerals Ltd. has reported a substantial upgrade in the Indicated mineral resources at their Rise and Shine deposit, with a 464% increase to 1.3Moz of gold, contributing to the Bendigo-Ophir project’s total of 2.5Moz. The company also announced strong scoping study results, including an after-tax net present value of NZ$937M, with an internal rate of return of 75% and a projected net profit after tax of NZ$2.0B over 10 years. Additionally, Santana Minerals strengthened its financial position through new executive appointments, a share placement raising A$31.2 million, and a forthcoming Share Purchase Plan aimed to raise an additional A$4.0 million.
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