Santana Minerals Limited

[Basil]

Gold continues its record breaking run. Up $46 U.S. an ounce to $2,933. Next stop $3,000. $5,000 an ounce wouldn't surprise me at some stage in the late 2020's. A price like that could make the Rise and Shine deposit worth several billion. Sure, plenty of risk here but the chance of a 10 bagger is not entirely out of the question either.

[Basil]

https://www.nzherald.co.nz/nz/tarras-locals-oppose-major-gold-mining-development-in-their-backyard/FL4LPOZZHVCKTG2SKOROTWZNBY/

[Basil]

Gold one of the few things going up in 2025. Have quietly been accumulating a few of these.

[Clearasmud]

Gold one of the few things going up in 2025. Have quietly been accumulating a few of these.

The anti mine group has only raised $2.1k last time I looked.

[Basil]

The anti mine group has only raised $2.1k last time I looked.

Great, that'll pay for the first hour of the KC's time for representing their attempt to do a judicial review, who's paying for the other 300 hours lol

[Basil]

A mate of mine just shared this with me. Fun fact of the day - if you took all of SMI's gold out of the ground and sold it at spot prices, it would be worth $8 Billion AUD.  My comment, Let's start digging!!
Quarterly report.  Much stronger cash position after option exercise.  Working on revised feasibility study with much lower waste strip requirements and consequently more capital efficient upfront costs and lodgment of fast-track application for June 2025 which will include financing options.  Keep some cash aside for an attractively priced cash issue is my thinking.
https://api.nzx.com/public/announcement/450586/attachment/442188/450586-442188.pdf

[Clearasmud]

A mate of mine just shared this with me. Fun fact of the day - if you took all of SMI's gold out of the ground and sold it at spot prices, it would be worth $8 Billion AUD.  My comment, Let's start digging!!
Quarterly report.  Much stronger cash position after option exercise.  Working on revised feasibility study with much lower waste strip requirements and consequently more capital efficient upfront costs and lodgment of fast-track application for June 2025 which will include financing options.  Keep some cash aside for an attractively priced cash issue is my thinking.
https://api.nzx.com/public/announcement/450586/attachment/442188/450586-442188.pdf

I'm guessing 100 million shares at $1.

[teabag]

Article in herald about rare moth causing problems for Oceana expansion

https://www.nzherald.co.nz/nz/oceanagold-otago-mine-expansion-plans-potentially-derailed-by-rare-native-moth/E7X6MVWKCJAMVIZVBFJOKA62PQ/

[Clearasmud]

SMI appears to be in a break out

[Basil]

From memory the updated feasibility study is due sometime this month and is supposed to contain costing for development and funding proposals.  Mr. market appears to be saying the economics contained in that study are compelling.  Disc: Small position and happy to support a capital raise.

[afc029871]

Bell Potter issued a note on the 29 May 2025 with a price target of A$1.30. You can see the article on the company website at https://www.santanaminerals.com/equity-research

[Otago K]

Bell Potter issued a note on the 29 May 2025 with a price target of A$1.30. You can see the article on the company website at https://www.santanaminerals.com/equity-research

Thanks for your post, the Analyst site visit seems to sit where I saw their focus  was the start of March this year when I visited their Cromwell admin office community engagement regular 60 minute presentation. about 15 attending two of whom seemed to have negative perceptions, about 10 locals positive, and a few like myself who were likely investors.

The latest changes aim to enable earlier access to viable gold percentages in the ore, and an alternative staged mine pit development plan to access the recoverable gold earlier, and hence I would pick that a CR is not going to be very likely. The pre-strip amounts are about halved from the standing projections.

In hindsight the early April Mr Market drop to below 50c NZ might have been the best point to increase a shareholding. Please remember this is speculative, and in that regards more around consenting etc than any doubts of the likely amount or levels of gold here in my opinion.

Hopefully the operating subsidiary Matakanui Gold Ltd will offer NZ investors a good likelihood of an ongoing  fully imputed dividend stream even potentially from Xmas 2027 after the debt levels that I anticipate will be required to be operational, are near repaid.

[Basil]

Looks like Bell Potter have done a good job of sniffing around down there and are really liking the economics of this proposed mine.  I doubt any of the local brokers would have the technical skills to evaluate the prospects as well as they have.  I agree its speculative and high risk but with high risk comes potential high reward.  A 1:1 capital raise at say 50 cents is something I would really welcome.  Disc, very modest ~ 2% portfolio allocation so more than happy to double it.

[Otago K]

Looks like Bell Potter have done a good job of sniffing around down there and are really liking the economics of this proposed mine.  I doubt any of the local brokers would have the technical skills to evaluate the prospects as well as they have.  I agree its speculative and high risk but with high risk comes potential high reward.  A 1:1 capital raise at say 50 cents is something I would really welcome.  Disc, very modest ~ 2% portfolio allocation so more than happy to double it.

Bell Potter has SMI as one of very few realistic ASX out-performers if I recall correctly, and a while since they revised a price target.
 I am thinking 10 bagger in 24 months maybe conceivable reality.
Two reasons I think they will avoid a capital raise, the quick payback on capital expenditure requirement projected, and that is now shortened, PLUS the director's proportions of ownership arising from future dated options etc would be somewhat diluted. Cook hasn't been adverse to debt in his past history also I have heard.
discl not looking to invest further so uncertain what I might end up doing if a CR was to occur. CR / Funding plans might well be indicated this month, just hope that the FTA submission is in by 25th and maybe is expediently progressed and they can get the plant operational in a timely manner, no great need to stock pile and current spot prices look to good to be missing out on.

[Basil]

Disc, very modest ~ 2% portfolio allocation so more than happy to double it.

On reflection, the very near term heavily revised feasibility study due very shortly with a circa 50% lower initial lower overburden strip rate should dramatically improve the already very compelling economics of this mine with its known reserves.  I think the chances of substantial extra reserves being found in the years ahead are excellent.  Bell Potter's A$1.30 valuation is based on the old prefeasibility study in Nov 2024 and old gold price of A$4,000 and will be updated with the new feasibility study.

The opportunity presented today with really decent volume on the offer at 64 cents to materially increase my position and I took advantage of that.  I'm proud to support this new venture which will provide more than 250 highly paid jobs as well as being a major boost to the region.  I think this is a very exciting and potentially, highly rewarding new venture.  More than happy to put my hand in my pocket for a capital raise to fund capex, if required.