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Santana Minerals Ltd. ( (AU:SMI) ) has issued an update.
Santana Minerals Ltd has successfully completed its Share Purchase Plan (SPP), raising approximately A$18 million, significantly exceeding the initial target of A$3 million. This follows a previous A$60 million placement to investors, with the funds earmarked for advancing the Bendigo Ophir Gold Project in New Zealand. The strong support for the SPP reflects investor confidence in the company’s strategic direction and the favorable gold market conditions, potentially enhancing Santana’s industry positioning and stakeholder value.
The most recent analyst rating on (AU:SMI) stock is a Buy with a A$0.80 price target. To see the full list of analyst forecasts on Santana Minerals Ltd. stock, see the AU:SMI Stock Forecast page.
More about Santana Minerals Ltd.
Santana Minerals Ltd is a company operating in the mining industry, focusing primarily on gold exploration and development. The company is advancing the Bendigo Ophir Gold Project in New Zealand, aiming to bring it to commercial production.
Average Trading Volume: 1,133,900
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$586.6M
See more data about SMI stock on TipRanks’ Stock Analysis page.