Santana Minerals Limited Analysis

Overview

Santana Minerals Limited is a precious metals exploration and development company. Santana Minerals is focused on the exploration and development of gold and precious metals and the investigation of projects involving those activities.

Performance

The following information was extracted from Santana Minerals Limited annual report, released 26 September 2025:

Operating review The review of operations of the Consolidated Entity during the year is detailed in the review of operations commencing on page 4 of this annual report and forms part of the directors’ report. Financial review At the end of the financial year the Consolidated Entity had $50,453,888 (2024: $33,068,475) in cash and at call deposits. Capitalised mineral exploration and evaluation expenditure carried forward was $54,420,890 (2024: $35,446,495). The Consolidated Entity had net assets of $102,596,176 (2024: $67,849,587).

In FY26, the Company will focus on completing the Fast-track permitting process for the BOGP, with the aim of securing all necessary approvals in the first half of the 2026 calendar year. A Final Investment Decision (FID) is planned to coincide with the granting of consents, positioning the Project to move seamlessly into execution. Early site works and procurement of long-lead items have already commenced to ensure construction readiness. Financing discussions will continue through the consenting process, targeting a debt package to complement existing cash reserves and equity funding, supporting phased execution of the Project. In parallel, exploration and resource growth initiatives will remain a priority, targeting extensions along key mineralised zones to further underpin the long-term mine plan and optimise development optionality. Collectively, these activities advance Santana Minerals toward the transition from planning to construction and, ultimately, operational production in mid-202