Santana asks for halt on trading

Santana Minerals contractors drilling near the historic "Come in Time'' battery site in 2022,...
Santana Minerals contractors drilling near the historic "Come in Time'' battery site in 2022, about 2km from the ruins of the mining village Welshtown in the Bendigo area. PHOTO: ODT FILES
The company exploring a proposed gold mine near Bendigo and Tarras has requested a trading halt from the Australian Stock Exchange, "effective immediately", while it considers seeking more funds from investors.

The request was made by Santana Minerals on Tuesday April 23 in "relation to a potential material capital raising".

The company has asked the trading halt remain in place until it can make an announcement to the market, or when ASX resumes trading on April 26.

Chief executive Damian Spring said, when contacted, the ASX request was standard practice but he could not comment further.

More information would be available once trading resumed on Friday, he said.

Santana Minerals is a 100% Australian-owned and listed company.

It purchased New Zealand company Matakanui Gold in 2020 and took over that company’s drilling and exploration on land spreading across three high country stations, Matakanui, Ardgour and Bendigo.

Santana’s recent announcements to the ASX have included promising drilling results, which it says is "the most significant single gold discover in New Zealand in four decades".

A recent scoping study has estimated about $4.4 billion in revenue could be created, with a net profit after tax of $2b.

Santana Minerals is working towards completing its feasibility studies and applying for approvals, while keeping a watch on the Government’s Fast Track Bill.

If enacted, the law changes would reform the consenting process for infrastructure projects of national or regional significance.