Santana Minerals SMI - The next large Otago Macraes Gold Deposit ?

[nztx]

Looks like a large & growing GOLD prospect down in Bendigo/Ophir - Otago

not far from Macraes mine either

just one of a number of projects in Santana's fold

Both Founding Geologists / Directors of the NZ Company are on the Santana Board
& appear to have a lengthy experience in the game


Bid/Offer A$0.26


Trading Halt for Investor Presentation today

Link to Presentation on ASX:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02443095-6A1059102?access_token=83ff96335c2d45a094df02a206a 39ff4


Further detail & coverage was in the recent Annual Report


Thoughts anyone ?

[percy]

Read this week's www.chrisslee.co.nz newsletter Taking stock.

[nztx]

Read this week's www.chrisslee.co.nz newsletter Taking stock.


Thanks Percy - interesting article from Chris Lee

[Lola]

Thanks Percy - interesting article from Chris Lee

Expert on everything including penny dreadfuls now. Talking his book as usual.

[nztx]

Expert on everything including penny dreadfuls now. Talking his book as usual.


Really ? .. and what have you missed ? ;)

[nztx]

Seems to be up 23% in the current month, after the mid month announcement
and after a Cap Raise ..

[tim23]

Expert on everything including penny dreadfuls now. Talking his book as usual.

His book is a good read and SMI is hardly in the penny dreadful class now.

[clearasmud]

His book is a good read and SMI is hardly in the penny dreadful class now.
Yea, I listened to him at bought a parcel at 22.6c, Up 40% in barely a week.

[Lola]

Yea, I listened to him at bought a parcel at 22.6c, Up 40% in barely a week.

Pure speculation
Most will be dead before they get any approvals to mine
This is NZ not Aussie

[Lola]

His book is a good read and SMI is hardly in the penny dreadful class now.

Agree that book is not bad. Took me a while to find it as I was looking in the Non Fiction section but found it in the Fiction department. Title should be " Hindsight Is a Wonderful Thing".

[nztx]

Edging up some more today..

Close AU 33.5c Day High 35.0c

[partya]

A 13% decrease today, after continued good news.

Obviously I don't know something.....

[beetills]

TAKING STOCK on Chris Lees website 20/01/22 mentions SMI.

[nztx]

A 13% decrease today, after continued good news.

Obviously I don't know something.....


Red all over the place on ASX today, possibly out of US movements

[tim23]

Red all over the place on ASX today, possibly out of US movements
I kept thinking there must have been a negative announcement but none - big volume today

[nztx]

The negatives must have been in other distracting market movements .. looks like a healthy bounce back up
today to 30.5

Guess the sizeable Kiwi holder block started looking past the slipping & sliding NZX fortunes of recent days ;)

[tim23]

Bit of a hike today good volume too - holding.

[nztx]

Bit of a hike today good volume too - holding.


Yes I see that ..

Another ASX listed Goldie is SNG (Siren Gold) who are busy in NZ on the Reefton Goldfields on the West Coast

[nztx]

Could it be "Macraes - we done it again" soon ? ;)

https://www2.asx.com.au/markets/company/smi

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02484266-6A1076117?access_token=83ff96335c2d45a094df02a206a 39ff4

[tim23]

Could it be "Macraes - we done it again" soon ? ;)

https://www2.asx.com.au/markets/company/smi

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02484266-6A1076117?access_token=83ff96335c2d45a094df02a206a 39ff4
Looks encouraging that’s for sure

[tim23]

Up she goes today on good volume again too.

[Watchful]

Guess the investor presentation from yesterday must have hit the mark, wherever it was being used.

[nztx]

As someone eluded to on HC, Same Geologists, same area, similar structures - the neighbours down the road at
Macraes may be starting to get interested - who knows :)

[tim23]

Good finish to the week again on useful volume - looking promising.

[nztx]

continued strength today, touching 52c earlier

[Aotea]

I dont get the share price growth. Having a fair understanding of Otago geology, this is a big punt.
Thats all I will say on this stock.

[nztx]

I dont get the share price growth. Having a fair understanding of Otago geology, this is a big punt.
Thats all I will say on this stock.


Recent Company Announcements + same team who discovered Macraes + Similar Geo Structures.

There have been ongoing upgrades issued from the Geologists with long experience in the area.

A punt maybe, but with upgraded resources who knows - these may even exceed those Macraes
started out with.

A fair portion of the Santana Register is probably held by Kiwi's and not a lot of volume
seems to be being traded.

The Otago prospect is just one of many in the Santana portfolio, but given recent activity
and Company Announcements appears to be at the fore attracting attention.

Disc: Holder

[nztx]

Creeping up - reached 60.0 c to close today

[Watchful]

Yep, nice to see alright. Not exactly the most liquid stock, so moves will be amplified in any direction, but nice for people to mainly want in over time.

Steady as she goes.

[Watchful]

Bit of a mention of Santana in the news.

https://www.odt.co.nz/regions/old-gold-may-create-rush

[nztx]

Further High Grades reported at Rise and Shine in today's Release:

https://santanaminerals.com/wp-content/uploads/220420_ASX-Release.pdf

[nztx]

+29c since first week of April to 89.0 c today

Our own Kiwi DeGrey or the new Macraes ?

word elsewhere that Chris Lee has made another mention of SMI too :)

Someone had better warn SMI that it's going to be taken over by a large number of Kiwi's soon :)

[clearasmud]

+29c since first week of April to 89.0 c today

Our own Kiwi DeGrey or the new Macraes ?

word elsewhere that Chris Lee has made another mention of SMI too :)

Someone had better warn SMI that it's going to be taken over by a large number of Kiwi's soon :)
And Degrey is worth 10x Santana.
Some wag said Santana is greater than Deg.
Glad I bgt a parcel at 22c.

[beetills]

+29c since first week of April to 89.0 c today

Our own Kiwi DeGrey or the new Macraes ?

word elsewhere that Chris Lee has made another mention of SMI too :)

Someone had better warn SMI that it's going to be taken over by a large number of Kiwi's soon :)
His family own 2%.

[JBmurc]

Interesting these guys only few kms away from where I live ...Nice looking resource

[nztx]

Close yesterday @ 98.0c - wonder when next resource results & possible upgrade is due ?

[partya]

Has anyone heard anything further about this resource?

Barring the highly informative (or not) article on 7 Sharp last month - https://www.1news.co.nz/2022/05/25/nz-gold-rush-resurrected-after-160-year-hiatus/

[nztx]

A casualty of the current small caps ASX carnage ?

To quote someone else's HC posting:


RAS just continuing to get bigger and bigger, building down plunge and to the east with impressive assays and the ASX punters don't even appear to know it exists still.


It is presumed that drilling is ongoing - reading the last report at beginning of June:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02527959-6A1094192?access_token=83ff96335c2d45a094df02a206a 39ff4

[Sideshow Bob]

Tarras drilling finds ‘substantial’ gold | Otago Daily Times Online News (odt.co.nz) (https://www.odt.co.nz/business/tarras-drilling-finds-%E2%80%98substantial%E2%80%99-gold)

The new Tarras airport will be a gold mine. BOOM! :p

[Sideshow Bob]

Santana Minerals keen to up gold search | Otago Daily Times Online News (odt.co.nz) (https://www.odt.co.nz/business/santana-minerals-keen-gold-search)

Even a picture of the high tech gold rig!!

[Aotea]

And Degrey is worth 10x Santana.
Some wag said Santana is greater than Deg.
Glad I bgt a parcel at 22c.

I dont want to downramp, and dont have a history of doing so, and nor do i intend to buy (although i do hold DEG). My only concern is the nz regulatory space. As i work in it every day i know it is damn hard getting approval here. Not impossible but a hard task...

[nztx]

I dont want to downramp, and dont have a history of doing so, and nor do i intend to buy (although i do hold DEG). My only concern is the nz regulatory space. As i work in it every day i know it is damn hard getting approval here. Not impossible but a hard task...

MacCraes down the road so must be a plus

No sign of any rare snails there another

Increasing possibility of the current Govt getting run over by a large public steamroller in 2023 yet another :)

If the economy looks like it's imploding badly, Govt will want to be getting this sort mining activity in view of
the green lights as soon as possible. My personal view of 2023 going ahead suggests it may not look great
at all in godzone with all today's political magicians and pretenders having either fallen on their swords or gotten themselves knocked out for the rest of the rounds for one reason or another .. all appear to be wearing serious scorch marks and tattered reputations..

[Aotea]

Agree with your points. We now have expanded rules, prohibitibg effects on wetlands of any size (unless youre the government wanting to drown some of nz's best by lake onslow), and stronger protections for indigenous vegetation, lizards or landscapes. Macraes is existing and that helps macraes expand and santana start. It will be challenging but certainly not impossible. I won't comment on this again as i dont seek to downramp just highlight what sovereign risk in nz looks like. Cheers

[JBmurc]

Agree with your points. We now have expanded rules, prohibitibg effects on wetlands of any size (unless youre the government wanting to drown some of nz's best by lake onslow), and stronger protections for indigenous vegetation, lizards or landscapes. Macraes is existing and that helps macraes expand and santana start. It will be challenging but certainly not impossible. I won't comment on this again as i dont seek to downramp just highlight what sovereign risk in nz looks like. Cheers

Here's hoping we get a new Govt that understands primary industries are the backbone of NZ economy and downstream service industry

[audiav]

Eugenie Sage’s Crown Minerals (Prohibition of Mining) Amendment Bill has been pulled from the biscuit tin. businessdesk.co.nz.

I think Santana site on conservation land.

[Watchful]

There is some conservation reserve land within their permit area, but as far as I can tell, the three main resources they’re exploring are on the freehold land sections. Certainly the Rise And Shine (which has ~85% of their current resource) appears to start just outside the conservation land and head deeper into freehold.

The access road may at one point touch some conservation land, but it’s a public road anyway, so not likely to be an issue I would think.

[audiav]

There is some conservation reserve land within their permit area, but as far as I can tell, the three main resources they’re exploring are on the freehold land sections. Certainly the Rise And Shine (which has ~85% of their current resource) appears to start just outside the conservation land and head deeper into freehold.

The access road may at one point touch some conservation land, but it’s a public road anyway, so not likely to be an issue I would think.

Thanks for the clarification , I thought I vaguely read something about it a while back.

[Sideshow Bob]

https://www.odt.co.nz/business/eureka-gold-explorers-return-bendigo

[tim23]

Market likes the upgrade today and healthy volume too - even the chart looks good. Disc - holding.

[clearasmud]

Market likes the upgrade today and healthy volume too - even the chart looks good. Disc - holding.

Nice.Glad I topped up yesterday at 75c

[nztx]

Nice.Glad I topped up yesterday at 75c


Ditto, me too

[tim23]

Ditto, me too
Maybe those executive options exercisable at 88c might be in the money a whole lot sooner.

[tim23]

Maybe those executive options exercisable at 88c might be in the money a whole lot sooner.

Those options in the $ a whole lot quicker- good price action today on decent volume.

[JBmurc]

these boys caught the tail of nice looking Gold resource I think will grow significantly>>>>>>going forward

[nztx]

3 million ounces - wasn't the latest upgrade ?

How much did MacRaes a mere 100 miles away do on tally up of their deposit resource ?

[percy]

A Bell Potter 2024 pick

Santana Minerals (SMI)
SMI’s principal asset is its 100%
owned Bendigo-Ophir Gold Project
(the Project) in the Otago Region
of New Zealand. Key points for the
Project include: i) SMI has delivered
extraordinary exploration success,
growing the Project’s Resource to
49Mt at 1.9g/t gold grade containing
3.09Moz of gold, since late 2020, at
a discovery cost of just A$3.50/oz, ii)
SMI will commence feasibility studies
and approvals processes targeting
mine development from ~FY27, iii)
the current Resource is contained
within just 4km of strike of 30km of
the prospective regional structural
mineralisation control, the Riseand-Shine Shear-Zone, and, iv) SMI
is exploring for further discoveries
and extensions to known deposits.
Near-term catalysts for SMI include
the release of an upgraded Mineral
Resource to enable Scoping Studies to
commence from early CY24.
Buy (Speculative), Valuation $1.45

[Sideshow Bob]

Change in personnel.....

https://www.odt.co.nz/regions/central-otago/two-new-managers-santana-minerals

Santana Minerals has appointed two new managers and farewelled its board chairman Richard Keevers, who finishes on December 22, and has been on the board since 2013.
The Australian stock exchange-listed company owns the Bendigo-Ophir Gold Project near Tarras.
Rod Redden, a former underground manager and open pit manager at Macraes gold mine, has been appointed as study manager, and will lead the technical studies Santana Minerals requires to advance the Bendigo Project.

Sam Smith, who most recently worked as chief executive for Breaker Resources, will be Santana Minerals investor relations and corporate services manager, taking over from Cameron Peacock, who has filled the investor relations role for several years.

[Daytr]

And who is the Chair? Peter Cook.
Nuff said. He doesn't back losers.

[tim23]

Some impressive volume with price to match - looking good.

[Sideshow Bob]

From the ODT this morning

https://www.odt.co.nz/regions/central-otago/9-billion-gold-find-near-tarras (Subscriber only)

[nztx]

Market up 14.6% today .. Last $1.14



and now a Response from SMI to an ASX speeding ticket query ;)



Santana Minerals Limited (‘SMI’): Price - Query

ASX refers to the following:

A. The change in the price of SMI’s securities from a low of $0.99 to a high of $1.25 today, 10 January 2024.
B. The significant increase in the volume of SMI’s securities traded today, 10 January 2024.

[Sideshow Bob]

Last traded $1.30.

Bell Potter saying target price is $1.80 and potential takeover target.

https://businessdesk.co.nz/article/listed-companies/bellpotter-a-bull-on-santanas-bendigo-gold-prospect?utm_source=7am+Headlines+from+BusinessDes k&utm_campaign=16889fe9a3-7am+Headlines&utm_medium=email&utm_term=0_617c2ef34a-16889fe9a3-402467359 (Paywalled).

[Sideshow Bob]

On a tear today......$1.46

[nztx]

Big Gold in them Otago Hills just down the road from MacRaes :)

[JBmurc]

Last traded $1.30.

Bell Potter saying target price is $1.80 and potential takeover target.

https://businessdesk.co.nz/article/listed-companies/bellpotter-a-bull-on-santanas-bendigo-gold-prospect?utm_source=7am+Headlines+from+BusinessDes k&utm_campaign=16889fe9a3-7am+Headlines&utm_medium=email&utm_term=0_617c2ef34a-16889fe9a3-402467359 (Paywalled).

Would make sense for OGC to have a crack their backyard

[Sideshow Bob]

Takeover at $1.80 = $320m.

[nztx]

Takeover at $1.80 = $320m.



Only $1.80 ? :)

[Sideshow Bob]

Would make sense for OGC to have a crack their backyard

Well OceanaGold have a little more cash now.......https://www.rnz.co.nz/news/business/507029/australian-miner-buying-reefton-mine?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Friday+19+J anuary+2024

[Lola]

Big Gold in them Otago Hills just down the road from MacRaes :)

Really? Bit strange then to see three long standing credible directors all pull out very recently.

[nztx]

Really? Bit strange then to see three long standing credible directors all pull out very recently.


Really ? didn't seem to hold back the SP .. did it ? ;)

[nztx]

Off the blocks and running..

Last $1.43

Change +0.135(10.4%)

[Sideshow Bob]

1 for 5 rights issue at $1.08.

Could raise up to $38.4m.

ex date 27/2/24 and then have a year to be exercised...

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02766830-6A1191433

[Daytr]

Yep Cooky knows how to look after his shareholders.

[nztx]

Yep Cooky knows how to look after his shareholders.



The Outfit has suddenly got legs alright .. gaining height most days :)

[tim23]

1 for 5 rights issue at $1.08.

Could raise up to $38.4m.

ex date 27/2/24 and then have a year to be exercised...

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02766830-6A1191433
It’s a bonus options issue that I can see.

[nztx]

Pause & TH this morning .. could be an upgrade

[tim23]

Pause & TH this morning .. could be an upgrade

Or capital raise?

[nztx]

Or capital raise?

In request for TH:


https://app.sharelinktechnologies.com/announcement/asx/02402057ae9850460b88608ca357d5e6


"Santana requests a trading halt pending the release of further information related to
the Initial Mining Assessments at Rise and Shine (RAS);"

[tim23]

Agree that book is not bad. Took me a while to find it as I was looking in the Non Fiction section but found it in the Fiction department. Title should be " Hindsight Is a Wonderful Thing".
Thanks for clarifying- lazy me😀

[clearasmud]

In request for TH:


https://app.sharelinktechnologies.com/announcement/asx/02402057ae9850460b88608ca357d5e6


"Santana requests a trading halt pending the release of further information related to
the Initial Mining Assessments at Rise and Shine (RAS);"

Maybe they were a bit over exuberant

[Daytr]

Maybe they were a bit over exuberant

I heard Santana mentioned yesterday on RNZ as likely to be one of the fast track projects.

[JBmurc]

I heard Santana mentioned yesterday on RNZ as likely to be one of the fast track projects.

Makes sense ...has a lot going for it .. grades .. strip ratio ..location .. we need more diverse jobs in the area away from just tourism and agriculture... will keep more of out young ones in the area Vs going to Aussie mines

[Lola]

I heard Santana mentioned yesterday on RNZ as likely to be one of the fast track projects.

Very much doubt that.

[Sideshow Bob]

Not surprisingly a retraction of their announcement last week about initial mining assessments at Rise & Shine.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02783249-6A1197594

[nztx]

Announcement today

Shiny Outcomes:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02790666-6A1200852

[Sideshow Bob]

Announcement today

Shiny Outcomes:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02790666-6A1200852

Should have just sent in the Aussie Gold Hunters.....!! :cool:

Crickey cobber, look at the size of this nuggie!! :t_up:

[gbogo]

I read it but… can anyone translate into English please?

[Watchful]

Much as expected, but worth noting anyway, that Santana were on the govt-released list of ‘stakeholders’ for the Fast-track bill. Stakeholders in this case being companies that have been provided info/directly invited to apply for the next stage.

The recent visit from Shane Jones had already heavily implied this would be the case, but nice to see it in writing.

No guarantee of the outcome, but it’s a nod in the right direction.

List at the end of the article.
https://www.odt.co.nz/news/national/govt-releases-fast-track-consents-list

[Daytr]

Much as expected, but worth noting anyway, that Santana were on the govt-released list of ‘stakeholders’ for the Fast-track bill. Stakeholders in this case being companies that have been provided info/directly invited to apply for the next stage.

The recent visit from Shane Jones had already heavily implied this would be the case, but nice to see it in writing.

No guarantee of the outcome, but it’s a nod in the right direction.

List at the end of the article.
https://www.odt.co.nz/news/national/govt-releases-fast-track-consents-list

Yep I would expect this project to be one that gets the nod.

They are obviously applying as they hastily put together the metrics of the project with a disclosure of 25% variance.
In saying that using a NZD2700 gold price when it's trading NZD4,000 is very conservative.

That gap between the modeled & current is equivalent of $143M p.a. circa doubling the modeled profitability.
Not bad for a company with a AUD market cap of $230M.

I should have been all over this six months ago, but still not too late I think in this case.

[Daytr]

Trading halt!
I only bought in yesterday!

Surely can't have fast track approval yet as the bill hasn't gone through parliament yet.

[GTM 3442]

Trading halt!
I only bought in yesterday!

Surely can't have fast track approval yet as the bill hasn't gone through parliament yet.

". . . a trading halt in relation to a potential material capital raising". All aboard for the dilution express. What will this do for the warrants/options d'you think?

[Daytr]

Yeah it will be interesting what "material" means in relation to $$$.
A lot less dilution whatever it is than it would have been at 50c a share.
There was always going to be capital to raise and more to come to fund development.
However it's pretty hard to be upset about company that's SP has performed & they have the potential for a very significant project.
That could generate free cashflow of its current market cap each year.

[nztx]

Trading halt!
I only bought in yesterday!

Surely can't have fast track approval yet as the bill hasn't gone through parliament yet.


Potential Cap raise, reading their Advice sent to ASX

If this resource is all the growing updated reports suggest, then where will the SP go ?

Different band of holders in this one - the Kiwi contingent probably aren't the pump & rapidly dump merchants seen elsewhere & SP has been fairly resilient contrasted with others over the ditch :)

Mabe they all can see McRaes just down the road ..

[Daytr]

Potential Cap raise, reading their Advice sent to ASX

If this resource is all the growing updated reports suggest, then where will the SP go ?

Different band of holders in this one - the Kiwi contingent probably aren't the pump & rapidly dump merchants seen elsewhere & SP has been fairly resilient contrasted with others over the ditch :)

Mabe they all can see McRaes just down the road ..

You would think Oceana would be eying this up.
The estimated production cost is much, much cheaper than Oceania's operations.

Question is, would Cooky let it go?

[Sideshow Bob]

You would think Oceana would be eying this up.
The estimated production cost is much, much cheaper than Oceania's operations.

Question is, would Cooky let it go?


Wouldn't think so. Still MUCH more fun to be had.

Only way could see that is if they couldn't see themselves getting consent or raising the money or operating the mine.

Uncle Shane will take care of the first one.......:mellow:

Or maybe a JV - OG have been at McRaes for years but how much longer has that got??

[Daytr]

Wouldn't think so. Still MUCH more fun to be had.

Only way could see that is if they couldn't see themselves getting consent or raising the money or operating the mine.

Uncle Shane will take care of the first one.......:mellow:

Or maybe a JV - OG have been at McRaes for years but how much longer has that got??

The early stage estimate of Capex is only about 5% of gross revenue of NZD4Bln over 10 years at the current good price.

Hopefully they largely debt fund the Capex.

With Cooky's record there should be no issue raising the equity & debt mix.

[whatsup]

The early stage estimate of Capex is only about 5% of gross revenue of NZD4Bln over 10 years at the current good price.

Hopefully they largely debt fund the Capex.

With Cooky's record there should be no issue raising the equity & debt mix.

Very hard to do that for a N Z based company where B S Greenies rule the roost .

[Daytr]

Very hard to do that for a N Z based company where B S Greenies rule the roost .

It's an Australian company, if it's fast tracked, I would like to see a syndication of Australian & international banks. It may mean some hedging, but at the current gold price & contango that may not be such a bad thing.
Either way they still have to complete a DFS.

[whatsup]

It's an Australian company, if it's fast tracked, I would like to see a syndication of Australian & international banks. It may mean some hedging, but at the current gold price & contango that may not be such a bad thing.
Either way they still have to complete a DFS.

I realise that but for all intensive purposes its in N Z and with the N Z greenies running amuck they have to deal with the them here in N Z and Im picking that the Aussie funders are looking sideways at this ! too many hoops maybe , look a NTL ?

Bring on N Z First and lets see how good they are ?

[Daytr]

I realise that but for all intensive purposes its in N Z and with the N Z greenies running amuck they have to deal with the them here in N Z and Im picking that the Aussie funders are looking sideways at this ! too many hoops maybe , look a NTL ?

Bring on N Z First and lets see how good they are ?

Different scale to NTL in regards longagevity, jobs & revenue. It's a pretty compelling argument for a project like this to go ahead imo.
Santana has quite a bit of publicity from Shane Jones and the like but I'm yet to see much protest. I'm sure there will be some, but it's likely to be nullified by the current Government & the economics it will deliver to the region.
Just my humble opinion.

[whatsup]

Different scale to NTL in regards longagevity, jobs & revenue. It's a pretty compelling argument for a project like this to go ahead imo.
Santana has quite a bit of publicity from Shane Jones and the like but I'm yet to see much protest. I'm sure there will be some, but it's likely to be nullified by the current Government & the economics it will deliver to the region.
Just my humble opinion.

I tend to agree , fingers crossed that the ma$$ots protest somewhere else !

[Daytr]

Big news day.
Let's see how much they are looking to raise & at what level.
Anything better than $1.10 sits well with me.
I wonder if they should look at a duel listing?

[Sideshow Bob]

Capital Raise - 27.1m shares at $1.15

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02799453-6A1204344

[Sideshow Bob]

Big news day.
Let's see how much they are looking to raise & at what level.
Anything better than $1.10 sits well with me.
I wonder if they should look at a duel listing?

Only reason for a dual listing is for PR. Otherwise NZX is a waste of time.

I think over half the shares are owned by Kiwis anyway? Something like that.

[dibble]

Interesting that 25% of the 31m is earmarked for "Continued resource definition and extensional drilling".

One without great knowledge (me) might presume that to get this far they already know enough to start actual mining and this 8m might be better invested in a big truck or something. ....And that "Continued resource definition" might thus be funded in due course by the sale of gold. Its not like they will mine the whole field in one go.

[Daytr]

Interesting that 25% of the 31m is earmarked for "Continued resource definition and extensional drilling".

One without great knowledge (me) might presume that to get this far they already know enough to start actual mining and this 8m might be better invested in a big truck or something. ....And that "Continued resource definition" might thus be funded in due course by the sale of gold. Its not like they will mine the whole field in one go.

This is a virgin mine & there will be a lot yo learn about the geology.

Resource definition is key to not have any surprises in geology, this will also be required for a BFS. There are some pretty experienced campaigners in this company and they know what they are doing. They basically need to convert resources to reserves.

[dibble]

This is a virgin mine & there will be a lot yo learn about the geology.

Resource definition is key to not have any surprises in geology, this will also be required for a BFS. There are some pretty experienced campaigners in this company and they know what they are doing. They basically need to convert resources to reserves.

Fair comment.
Guess Im saying they've had a good picture of what and where and the geology of the field for some time and its not like they aren't going to dig a big hole so just getting on with it (subject to other variables obviously) also adds knowledge. And some of the pickings (from a several updates back) look like easy money which could be used to fund expansion rather than too many diluting capital raises (there will be more of course, some expensive equipment required).

Absolutely they know what they are doing. That said I suspect many simple folk could have told Ryman borrowing from USA might end in tears. Guess I'd be happier at this stage of the project to know if someone with genuine industry skills is ready to challenge where the money is being directed and how future eps is being considered. As that's clearly not me I live in hope.

Regardless, quite fascinating following this one.

[Sideshow Bob]

This is a virgin mine & there will be a lot yo learn about the geology.



It is a modern day 'virgin' mine, there was alot of gold mining in the area in the past.

Great spot to have a mooch around on the hill up above bendigo and some of the old goldminers stone cottages

- https://www.doc.govt.nz/globalassets/documents/parks-and-recreation/places-to-visit/otago/bendigo-area-brochure.pdf

[Daytr]

It is a modern day 'virgin' mine, there was alot of gold mining in the area in the past.

Great spot to have a mooch around on the hill up above bendigo and some of the old goldminers stone cottages

- https://www.doc.govt.nz/globalassets/documents/parks-and-recreation/places-to-visit/otago/bendigo-area-brochure.pdf

Cheers Sideshow, comparing pick & shovel of the 1860s with modern mining is like your first flirtation compared to having a family of 10 kids.

Have you been to the Superpit in Kalgoorlie?
In the canyon created by the modern mine that makes the massive dump trucks look like dinky toys at the bottom of the pit, you can see the workings of the old miners at the top of the face. Meanwhile 58 million of ounces have been mined since.

[JBmurc]

Rise and Shine is a cracking good gold project thick intercepts high gold ... with forward mining plan ...great met ... so many Aussie Gold developers will be very jealous of the SMI project.

.the biggest hurdle will be the local NIMBY that would be anti any mining in any local area even if they never see the operation ...and the fact over $2-Billion will be paid in taxes royalties CAPEX-OPEX .. and the added employment and spending into the local communities will be hundred's millions just over the first 10yrs of the first stage of Gold to be processed ...

Exploration upside in a very under-explored area would surely add many more stages of operation once the plan and production funds allow for more step-out drilling ..

[Daytr]

Only reason for a dual listing is for PR. Otherwise NZX is a waste of time.

I think over half the shares are owned by Kiwis anyway? Something like that.

A good reason to duel list is Kiwi investors wouldn't be capped at the $50k investment criteria on capital gains.

[Sideshow Bob]

A good reason to duel list is Kiwi investors wouldn't be capped at the $50k investment criteria on capital gains.

According to the IRD website, SMI qualify for an exemption to FIF.

[Watchful]

A good reason to duel list is Kiwi investors wouldn't be capped at the $50k investment criteria on capital gains.

Many ASX shares are FIF exempt, SMI among them. There’s a simple tool to check on the IRD site.

[Daytr]

Many ASX shares are FIF exempt, SMI among them. There’s a simple tool to check on the IRD site.

Cool thanks