Santana Minerals Says Pre-Feasibility Study for New Zealand Project Nearing Completion

MT Newswires Live10-30

Santana Minerals (NZE:SMI, ASX:SMI) reported progress in its Bendigo-Ophir gold project in New Zealand, with the final pre-feasibility study report scheduled for release in the December quarter, according to a Tuesday filing with the New Zealand bourse.

The company ended the September quarter with a gross cash balance, before creditors, of AU$32 million, compared with AU$33.1 million in the prior three-month period.

During the quarter, the mining company exercised 2.6 million options with an exercise price of AU$1.08 apiece and a further 1.1 million options with an exercise price of AU$0.30 to raise roughly AU$3.1 million, the filing stated.

The company's shares rose past 1% in recent Wednesday trade in New Zealand.

Price (AUD): $0.86, Change: $+0.010, Percent Change: +1.18%

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