Santana Minerals Launches Share Purchase Plan to Fund Bendigo Ophir Gold Project

Santana Minerals Ltd. ( (AU:SMI) ) just unveiled an update.

Santana Minerals has launched a share purchase plan for eligible Australian and New Zealand shareholders following a A$130 million institutional placement at A$0.90 per share. The plan, targeting up to A$30 million and priced at the same 8.6% discounted level, allows existing investors to acquire up to A$24,948 in new shares without brokerage, with applications open from 27 February to 13 March 2026.

Funds raised from the placement and share purchase plan will be used to accelerate development of the Bendigo Ophir Gold Project, including early civil works, long-lead item procurement, and further exploration of high-priority targets. The capital will also support general working capital and the equity component of construction and pre-strip activities, underpinning Santana’s transition from project development toward gold production.

The most recent analyst rating on (AU:SMI) stock is a Hold with a A$0.92 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 Limited is an Australia- and New Zealand-listed gold mining and exploration company focused on advancing the Bendigo Ophir Gold Project. The company is progressing this project from consenting into development and ultimately production, with a strategy that includes near-mine and regional exploration to expand its resource base and support long-term operations.

Average Trading Volume: 1,506,574

Technical Sentiment Signal: Buy

Current Market Cap: A$856.4M

For detailed information about SMI stock, go to TipRanks’ Stock Analysis page.