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Santana Minerals Ends Fourth Quarter With AU$188 Million Net Cash Position

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Santana Minerals (ASX:SMI) closed the fourth quarter with an estimated net cash position of AU$188 million to advance the Bendigo-Ophir gold project toward a development decision, according to a Wednesday Australia and New Zealand bourse filing.

The company said the application for consent to develop the Bendigo-Ophir gold project continued to progress over the quarter, while the company completed the second tranche of its AU$130 million equity placement to sophisticated and institutional investors, with exploration aimed at extending the potential life of the Rise and Shine deposit remaining ongoing.

The company's shares fell 2% in recent Wednesday trade.

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