Santana Minerals advances Bendigo-Ophir project, reports improved financial position

Santana Minerals Limited's Bendigo-Ophir Gold Project (BOGP) saw transformative progress in FY25, including its inclusion in New Zealand's Fast-track Approvals Act. The project's Mineral Resource Estimate in March 2025 confirmed 34.3 million tonnes at 2.1 g/t for 2.34 million ounces of contained gold. This underpins an Updated Pre-Feasibility Study (PFS) projecting 1.2 million ounces of gold over a 13.8-year mine life, outlining a selective high-grade mining strategy and a redesigned processing facility.

Financially, the company reported a net loss of AUD (1,692,292) for the year ending June 30, 2025, an improvement from AUD (2,586,418) in the previous year. Cash and cash equivalents increased significantly to AUD 50,453,388 (2024: AUD 33,068,475), while total non-current assets, primarily exploration and evaluation expenditure, rose to AUD 55,183,270 (2024: AUD 35,837,518). Total net assets climbed to AUD 102,596,176 (2024: AUD 67,849,587).

Subsequent to the reporting period, Santana Minerals announced a binding agreement to acquire Ardgour Station land for NZD 25 million. The company also completed a fully underwritten A$60m placement and A$3m Share Purchase Plan, raising substantial capital for ongoing development.