Santana Secures Strategic Land for Bendigo-Ophir Gold Project Development.

Santana Minerals Limited (ASX: SMI) has entered into a binding agreement through its subsidiary, Matakanui Gold Limited, to acquire Ardgour Station land in New Zealand for NZ$25 million, subject to Overseas Investment Office (OIO) approval. The deal includes 2,880 hectares of land, water rights, and infrastructure, which are essential for the development of the Bendigo-Ophir Gold Project (BOGP). A non-refundable deposit of NZ$2 million has been paid, and NZ$5 million of the total consideration will be settled in Santana shares.

The acquisition eliminates a 1% gross production royalty over key orebody areas and secures land for the project's proposed plant and infrastructure. Final settlement is contingent on approvals under the Fast Track Approvals Act (FTA), with flexibility for delays via a 2% annual interest on outstanding funds. This transaction strengthens Santana’s control over critical development assets and aligns the landowners' interests with the project's long-term success.

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