Australia's Santana Minerals slumps on delayed application submission for mining permit

Santana Minerals

07/04/2025 04:11

** Shares of Santana Minerals SMI.AX slump 9.1% to A$0.450, their lowest level since January 21

** Precious metal explorer says reports needed for its application for a mining permit will not be ready in time for submission by end of April 2025

** Says it is working towards completing the submission no later than June 30, 2025

** Stock fell as much as 12% to A$0.435 earlier in the day, its lowest level since December 17, 2024

** Stock on track for third consecutive session of losses, if current trends hold

** 1.7 mln shares change hands, 1.2x the 30-day average

** Stock down 7.2% YTD, including current session's moves

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))