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Santana Minerals Ltd. ( (AU:SMI) ) has provided an update.
Santana Minerals Ltd. has announced a fully underwritten placement to raise A$60 million, alongside a Share Purchase Plan (SPP) to raise an additional A$3 million. The funds will be used to accelerate the development of the Bendigo Ophir Gold Project, including infrastructure works and potential land acquisitions. This initiative reflects strong investor confidence in the project’s potential to contribute to New Zealand’s economic growth, with significant participation from both domestic and international investors.
The most recent analyst rating on (AU:SMI) stock is a Buy with a A$1.07 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. operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily involved in the Bendigo Ophir Gold Project, which is a significant gold mining initiative in New Zealand.
Average Trading Volume: 1,095,244
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$455.3M
Find detailed analytics on SMI stock on TipRanks’ Stock Analysis page.