https://www.engineeringnews.co.za

Santana readies for near A$10m raise

22nd July 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Santana Minerals will raise just over A$9.3-million in a share placement.

The company on Friday said that it would issue 15-million fully paid ordinary shares at a price of 62.5c each in two tranches.

The first tranche of 9.8-million shares will be issued under the company’s existing placement capacity while the second tranche of 5.2-million shares will be subject to shareholder approval.

Santana on Friday said that the bids lodged for new shares substantially exceeded the company's placement capacity, and after consideration was given to the recent success of the company’s exploration drilling at the Bendigo-Ophir project, in New Zealand, and the proposed application of funds to be raised, it was decided to accept over subscriptions, subject to the approval of shareholders at a general meeting to be called as soon as possible.

These additional funds will enable Santana to more aggressively approach the immediate future exploration programme, particularly because recent drilling has both found excellent gold mineralisation and also increased the company’s understanding of the geology of this mineralisation, Santana said.

Additional metallurgical testing will also be possible, to keep pace with the definition of new resources.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 
Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.779s - 140pq - 2rq
Subscribe Now