Santana Minerals (ASX:SMI) has announced that its wholly owned subsidiary, Matakanui Gold, has entered into a binding agreement to acquire land at Ardgour Station. This acquisition resolves competing land uses associated with the Bendigo-Ophir Gold Project in New Zealand. Santana Minerals is a mineral exploration company focused on identifying and developing resource projects. Its primary focus is precious metals.
The acquisition encompasses four titles covering 2880 hectares. This includes all irrigable land, water rights, and associated infrastructure on Ardgour Station. The purchased land is directly related to the Bendigo-Ophir Gold Project.
The staged acquisition is valued at $NZ25 million ($23.1 million). A non-refundable deposit of $NZ2 million will be paid to the owners of Ardgour Station as part of the agreement. Completion of the deal remains subject to Overseas Investment Office approval.
This strategic acquisition secures land critical to the project’s future development. It ensures the company can proceed with its plans without conflicting land usage claims. Securing the land and associated water rights is a significant step forward for the Bendigo-Ophir Gold Project.
