Precious metals exploration company Santana Minerals has applied for a secondary listing on the New Zealand main board, with a targeted listing date of July 25.
This will be in addition to its primary listing on the ASX.
The proposed New Zealand listing is intended to provide opportunity for shareholders to migrate their shares to the NZX and show the support that they have for Santana in country.
“Us Kiwis are a parochial lot and immensely proud of our country and what it has, and what it can achieve. We are delighted to underwrite this trait by giving all locals an opportunity to be a part of exciting new gold development on their own market in their own time zone,” said CEO Damian Spring.
Currently, more than 40% of Santana’s share register is made up of investors with New Zealand-registered addresses. “We would like to see that grow with more local support and it’s only right that it happens on our local exchange,” added Spring.
Santana’s wholly owned subsidiary Matakanui Gold has made the largest single gold discovery in New Zealand in the past 40 years.
The Bendigo-Ophir project covers 251 km2 in the Central Otago goldfields, about 90 km from OceanaGold’s Macraes gold mine. The project contains a mineral resource estimate of 2.45-million ounces of gold at 2.0 g/t.
Meanwhile, on Tuesday, Santana increased the Rise and Shine (RAS) discovery’s indicated category resource to 1.45-million ounces. The total mineral estimate for the RAS deposit of 2.22-million ounces is now more than 65% in indicated category, setting a solid platform for the prefeasibility study that is due in the December quarter.