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Highlights
Santana Minerals moves to acquire Ardgour Station, covering key Bendigo-Ophir project land
Deal includes irrigable land, infrastructure, and water rights subject to OIO approval
Share-based component included as part of total consideration package
Santana Minerals Ltd (ASX:SMI), a company listed on the ASX 300, has announced a key strategic development in the New Zealand mining sector. The gold-focused explorer has reached a binding agreement to acquire Ardgour Station land, which overlaps part of the Bendigo-Ophir Gold Project located on the South Island.
This acquisition is facilitated through its fully owned subsidiary, Matakanui Gold, and aligns with Santana’s long-term infrastructure and land access objectives for the project.
Land Package Unlocks Infrastructure Access and Water Rights
The land package secured under the agreement spans multiple titles, including irrigable zones, water allocations, and existing infrastructure critical for project development. By removing overlapping land usage rights, the transaction is expected to streamline future project planning and operational logistics.
Approval from New Zealand’s Overseas Investment Office (OIO) remains a prerequisite, with a non-refundable deposit forming part of the structured arrangement. The agreement also involves a component of equity in the parent company to be issued to the landowners.
Santana's CEO Emphasises Stakeholder Alignment
Commenting on the deal, Santana’s CEO highlighted the mutual benefits created through the structured consideration, particularly the inclusion of equity. This aspect, he said, underlines a shared vision with the landholders and a stronger alignment of interests across all stakeholders involved in the Bendigo-Ophir project.
The approach marks a notable development in community and ownership integration, reflecting a collaborative strategy for mineral development in the Otago region.
Santana Minerals Focused on Single Gold Asset in New Zealand
Santana Minerals maintains a dedicated focus on its flagship Bendigo-Ophir Gold Project, which holds a defined gold resource. The company’s operations are concentrated in the Otago goldfields, a historically significant gold-producing area in New Zealand.
With the acquisition of Ardgour Station, the company enhances its control over key physical assets required for ongoing exploration and eventual project execution. As the approval process progresses, attention remains on the consolidation of land use to optimise development planning.
