Santana Minerals Limited

[Clearasmud]

Partly a reminder for those who see benefits to apply into the offer it's the last day today, you will need to meet the verification on payment requirements through NZ banking system and all. It is available at quite a lot lower than the Mr Market, SP levels over last 3  days ever higher so must be heavy scaled back. There maybe some speculation of justification to FTA delays, but for me they are still baked in and they might well influence the valuation projections I have.
Discl currently an active seller down, might even get to a Nil Funds Invested sleep easy situation if momentum builds today. Is this current SP merely frothy or a bubble even based on the current Gold spot price???

Do you believe this will be an underground mine at best case?

[Left Field]

Interesting no time scale or cost estimates to this notice.

https://api.nzx.com/public/announcement/458169/attachment/451360/458169-451360.pdf

[Otago K]

Do you believe this will be an underground mine at best case?

Think that is all premised about what might be palatable to the public court of opinion, certainly not what I perceive the Santana team would consider, would be sub optimal  on the dollars benefit to investors and government revenues, and ultimately the total gold to be extracted I suspect.
I do see that the proposed mine design will not be a great detraction to what is to be seen. Perhaps at a distance from very limited vantage points it will be a visual that some may choose to consider not what they want to see, not pristine to desired image.
In my reality of adjoining properties and it was from 35 to 25 years in the past, on the ground, might have been very likely barren to the eye, and would move with the scurrying rabbits as they were disturbed, was like a flock of birds or fish as they move as one to the eye. Compared to a mine ultimately well remediated and managed wouldn't bother me at all. If there is anything there of environmental value it survived or recovered post rabbits scourge, why would a mine be a bother??
If I retain what I feel as a rational mindset no not underground until deeper and seams are clearly thinner and defined, but what I think matters little.

[Otago K]

Purely posted for disseminating information to hand via a Simply Wall St watch listing advice on Friday 5th NZ time.

Price target increased by 11% to AU$1.30
Up from AU$1.17, the current price target is an average from 4 analysts.
•    New target price is 93% above last closing price of AU$0.68.
•    Stock is up 14% over the past year.

I can not see any updated equity research on Sanatana website to Identify who the likely analyst may be.
Discl: I still see merit or value in this entity but agree there are elements of concern to consider, and are in the process of sell downs, currently hold Trust entity holdings at a funding cost average of under 10c NZ and for other entities the figure stands around 26c, with a plan to get these to nil, another market lift anywhere near the magnitude of the past week will achieve this goal and see the remnant holdings destined for the bottom drawer, to await what will be will be, with no real skin in the game. On reflection I was amiss to miss out on an arbitrage gain by partaking in the offering and to have sold a commensurate dollar sum of existing holding from July 2024 BUYs.

[Clearasmud]

We are in a gold bull market mate so this is the time to hold long,strong and hope for intergenerational wealth.
I have reduced by half and am free carried.
Most of my NZ stocks have been transferred to Australian gold developers and explorers.
Stuff the nz market although there are a few good ones.

[Otago K]

For anyone interested few latest developments

TV3 News think Sunday 21 09 2025 6pm exert
https://www.youtube.com/watch?v=GtEjlUj2Pk0

Ex Platform site item by Michael Laws ( I think also the ORC chair, incidentally ) interview of CEO Damian Spring
https://www.youtube.com/watch?v=nlxw-I_V8x0

ex Santana website some FTA submission materials including July 2025 visualisations as referenced in the Laws You Tube above    https://www.santanaminerals.com/ftasubmissionreports

Latest nzx disclosure to extended underground mine projection I might anticipate.
https://www.nzx.com/announcements/459217

No recent valuation updates on the Santana site but Simply Wall Street has had a couple of analyst's updated to higher targets over the last 4 weeks. Not suggesting anything other than own research and assessing what it means for your own circumstances to be clear, Discl: I am currently carrying SMI at a nil own $ invested basis having sold down around 60% of initial shareholdings across my portfolios.

[Clearasmud]

For anyone interested few latest developments

TV3 News think Sunday 21 09 2025 6pm exert
https://www.youtube.com/watch?v=GtEjlUj2Pk0

Ex Platform site item by Michael Laws ( I think also the ORC chair, incidentally ) interview of CEO Damian Spring
https://www.youtube.com/watch?v=nlxw-I_V8x0

ex Santana website some FTA submission materials including July 2025 visualisations as referenced in the Laws You Tube above    https://www.santanaminerals.com/ftasubmissionreports

Latest nzx disclosure to extended underground mine projection I might anticipate.
https://www.nzx.com/announcements/459217

No recent valuation updates on the site but Simply Wall Street has had a couple over the last 4 weeks updated to higher targets. Not suggesting anything other than own research and assessing what it means for your own circumstances to be clear, Discl: I am currently carrying SMI at a nil own $ invested basis having sold down around 60% of initial shareholdings across my portfolios.

I did the same mate but used the proceeds to buy 4 other goldies.

[Otago K]

Again latest updates to hand in addition to the nzx website Annual Report announcement, including Chairman Peter Cook updated comments to FTA submission

23 September Blue Oceans Equity Analysts report on the Santana website
https://www.santanaminerals.com/equity-research

Latest RNZ reporting on the Imminence of FTA filing
https://www.rnz.co.nz/news/national/574609/santana-minerals-close-to-lodging-application-for-4-point-4-billion-central-otago-gold-mine


I do notice a discontinuation post July 2025 of their website monthly newsletters.
IMHO There remains the question of delays or disruption with the minority Tarras action group views.
DYOR as always, for me there remains a question of amending a pending SELL at slightly above the current SP I had placed in contemplation, that FTA delays or issues that arise around it might see a SP drop, at which time I might determine a BUY back in of the value of the trade, bit of a dollar each way for 45% of one portfolio holding.

[Clearasmud]

Obviously no mining licence means huge uncertainty.
We await, cautiously optimistic.
It helps to have 4 or 5 other positions.

[Otago K]

Latest SMI disclosure, at bottom of page 1 detailing of post September quarter activity there is reference to FTA having been submitted I take it.

https://www.nzx.com/announcements/461781

[teabag]

It appears so, Chris Lee has sent out a notification saying Santana have lodged their Fast Track Application.  Can't find any mention in media of it yet

[alkebab]

It appears so, Chris Lee has sent out a notification saying Santana have lodged their Fast Track Application.  Can't find any mention in media of it yet

It was mentioned in their quarter report released today.

"Lodgement of the Project's consent application under the new Fast-track Approvals Act commenced following
the collation of all required technical works and studies, and payment of the application fee, marking a major
milestone toward development and commercialisation."

[lorraina]

https://www.chrislee.co.nz/taking-stock

[BlackPeter]

https://www.chrislee.co.nz/taking-stock

Just wondering, whether the 2% of holdings is impacting on his views? Jeez - 2% - this is something like NZ$14m ... a lot of money in a goldmine not even fully licenced and certainly not producing.

I normally like his posts (no  matter whether I agree with the particular issue), but this feels a bit conflicted.

[Otago K]

Latest ASX notice trading halt missed NZX Friday trading hours, should be disclosed Monday ASX trading hours.
https://app.sharelinktechnologies.com/announcement/asx/8b79c2ea54e64b3b64e66ec3486bf8bb

Other recent developments a rather positive Chairman's report in the AGM reporting
https://api.nzx.com/public/announcement/462967/attachment/457093/462967-457093.pdf

Another extended extent of the future underground probable margins on the main Rise And Shine resource
https://api.nzx.com/public/announcement/462829/attachment/456947/462829-456947.pdf

Sure it will be easy enough to find that the Greens have adviced they will reverse anything issued under the Fats Track Act for various categories including the Bendigo Ophir Project of Santana when they are elected.

I'll probably edit tidy up in the weekend. Discl Holder.