Santana Minerals to acquire land for Bendigo-Ophir gold project in New Zealand

From Yahoo Finance: 2025-07-03 12:50:00

Santana Minerals’ subsidiary Matakanui Gold has agreed to acquire Ardgour Station land for the Bendigo-Ophir gold project in New Zealand for NZ$25m. The deal includes 2,880 hectares of land, water rights, and infrastructure, eliminating a 1% royalty and securing the project’s processing plant location.

Located an hour east of Queenstown, the project is in the Central Otago goldfields near OceanaGold’s Macraes gold mine. Santana CEO Damian Spring praised the deal for securing development rights and sharing benefits with the landowners through share ownership. A portion of the NZ$5m cost will be settled in Santana Minerals shares.

The acquisition cost will be partially paid in Santana Minerals shares, with the price based on the 10-day average before the agreement signing. Existing access rights between Ardgour Station landowners and Matakanui Gold will remain if the settlement fails or will be superseded upon completion.

Read more: Santana Minerals to acquire land for Bendigo-Ophir gold project