Santana Minerals raises $130 million for gold project

In February 2026, Santana Minerals Limited achieved a significant milestone by raising A$130 million to advance its Bendigo-Ophir Gold Project (BOGP) in Central Otago, New Zealand.

This funding, secured through an institutional placement and a Share Purchase Plan, provides the necessary equity to transition the project from exploration to development.

The capital is designated for essential early works, such as site infrastructure and power upgrades, alongside securing critical mining equipment from Komatsu.

The BOGP, currently under the New Zealand Fast-track Approvals regime, awaits a final decision on October 29, 2026.

If successful, the project aims to produce 120,000 ounces of gold annually over a 14-year lifespan.

With a solid cash balance, management is now focused on finalizing debt financing, marking a pivotal step toward becoming a major gold producer while balancing development with community oversight.