Santana Minerals (ASX:SMI, NZE:SMI) said it plans to apply shortly after its Bendigo-Ophir gold project was designated as a "fast-track" project in New Zealand, according to a Thursday Australian bourse filing.
The Company plans to potentially refine its initial pre-feasibility study and it is considering detailed engineering and development strategies to reduce pre-production costs, focusing on minimizing expenses related to pre-strip activities and optimizing the scale of the pit, the filing said.
It is also conducting trade-off studies to evaluate the interface between open-pit and underground mining.
It added that agreements for securing additional water supplies to support the future mine operation have been finalized, while talks regarding land acquisitions are in advanced stages.
Its shares fell over 2% on market close.
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