Consents for Santana Minerals' NZ Project 'Positive', Euroz Says

MT Newswires Live11-28

Santana Minerals' (ASX:SMI, NZE:SMI) prospect of obtaining consents for its Bendigo-Ophir Gold project in New Zealand is "positive" after the receipt of a provisional intention to approve the WKP project, the first mining project to enter New Zealand's Fast-Track system, according to a Thursday note by Euroz.

Euroz believes that Santana is the biggest gold discovery in New Zealand, ready to be developed, and Bendigo-Ophir remains one of the most attractive mining projects in the world.

It also notes that New Zealand does not have a shortage of labor and has faced the largest shifts in permitting regimes globally.

Euroz maintained Santana's speculative buy ratings but raised its price target to AU$1.69 per share from AU$1.58 per share.

Shares of the company rose 4% at market close.

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