ASX:SMIMetals and Mining
Why Santana Minerals (ASX:SMI) Is Down 12.3% After A$130m Equity Raise For Bendigo Ophir Project
Earlier in February 2026, Santana Minerals Limited announced firm commitments for an A$130,000,000 follow-on equity offering at A$0.90 per share, issuing more than 144 million new ordinary shares at a small discount to fund its Bendigo Ophir Gold Project and broader exploration work.
A key backdrop to this capital raise is the company’s recently declared extensional Exploration Target at the Rise & Shine deposit, which outlines additional potential mineralisation supported by step-out...