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2026-11-06
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Santana Minerals Limited

PFS Developer · Gold · NZ · KH Rating locked: sign in to view v8.1 · smi-20261102t225804-full
Last 2026-11-06
A$0.44
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1M
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Fair value
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Mkt cap
A$435.9M
EV
A$256.7M
Cash
A$179.7M
Debt
A$236K

People, delivery and responsibility

Management background checks

Evidence through 2026-10-09

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

Expanded primary-source review of Santana’s FY2026 annual report and New Zealand Fast-track regulator records. Permitting delay and technical information requests remain a material unresolved project risk; the consenting process remained active through the 5 October groundwater report. Person-specific adverse-record checks and full employment chronology remain incomplete.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Damian Spring

Executive Director & CEO

Current
Full background report for Damian Spring
FailureDocumented · Medium materiality

Fast-track decision slipped; substantive consent remained undecided

The official expert-panel index records a processing suspension requested by the applicant, effective 26 June 2026, confirmation of resumption on 17 August, and a later resumption minute on 16 September. The FY2026 annual report says the final consent was still outstanding and decision timing had moved from October 2026 to January 2027. As of the evidence cutoff, the application remained active: applicants answered several information requests, a conditions writer was appointed and the panel received an appointed groundwater expert report on 5 October. This is a material schedule/regulatory risk, not a refusal or a finding of personal misconduct.

Role overlaps event; causation unproven · Spring was CEO and applicant representative during the consenting process; no source attributes the delay or requests to personal failure.

Bendigo-Ophir Gold Project expert panel correspondence and minutes · Minutes 38, 45 and 52; process status through 30 September 2026
Bendigo-Ophir Gold Project reports and advice · RFI register through 29 September and expert groundwater report received 5 October 2026
Santana Minerals Limited Annual Report 2026 · Chairman’s Letter, p. 3
Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Full background report

Damian Spring

Executive Director & CEO

Career chronology

  • Since 2023-07-01: Santana Minerals Limited — Executive Director & CEO. Our team (Management/director profile; current role)

Business failures and setbacks

Fast-track decision slipped; substantive consent remained undecided

FY2026–2027 projected decision · documented · medium materiality

The official expert-panel index records a processing suspension requested by the applicant, effective 26 June 2026, confirmation of resumption on 17 August, and a later resumption minute on 16 September. The FY2026 annual report says the final consent was still outstanding and decision timing had moved from October 2026 to January 2027. As of the evidence cutoff, the application remained active: applicants answered several information requests, a conditions writer was appointed and the panel received an appointed groundwater expert report on 5 October. This is a material schedule/regulatory risk, not a refusal or a finding of personal misconduct.

Attribution: Role overlaps event; causation unproven. Spring was CEO and applicant representative during the consenting process; no source attributes the delay or requests to personal failure.

Relevance: Permitting schedule and unresolved consent are central execution dependencies for the CEO and project economics.

Bendigo-Ophir Gold Project expert panel correspondence and minutes (Minutes 38, 45 and 52; process status through 30 September 2026); Bendigo-Ophir Gold Project reports and advice (RFI register through 29 September and expert groundwater report received 5 October 2026); Santana Minerals Limited Annual Report 2026 (Chairman’s Letter, p. 3)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The reviewed issuer profile confirms this current role. The short public profile supports a preliminary role-alignment observation only; independent evidence on delivered outcomes and full tenure is insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the documented role and experience, not a claim of responsibility for a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

Our team (Executive or management profile: Damian Spring; current role and available career detail)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.

  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Sam Smith

Executive Director & CDO

Current
Full background report for Sam Smith
Company SuccessIssuer Reported · Medium materiality

Breaker Resources merger with Ramelius

Santana’s team profile states Smith was CEO of Breaker Resources and was integral to its successful merger with Ramelius Resources. The page provides no detailed role dates or transaction outcome measures.

Individual involvement documented · This is the current issuer’s description of Smith’s role; independent transaction and contribution analysis was not completed.

Our team · Sam Smith profile
Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Full background report

Sam Smith

Executive Director & CDO

Career chronology

  • Since 2024-01-01: Santana Minerals Limited — Executive Director & CDO. Our team (Management/director profile; current role)

Contributions and company outcomes

Breaker Resources merger with Ramelius

Before joining Santana; exact dates not stated · issuer reported · medium materiality

Santana’s team profile states Smith was CEO of Breaker Resources and was integral to its successful merger with Ramelius Resources. The page provides no detailed role dates or transaction outcome measures.

Attribution: Individual involvement documented. This is the current issuer’s description of Smith’s role; independent transaction and contribution analysis was not completed.

Relevance: Corporate transaction experience is relevant to executive-level capital allocation and corporate development.

Our team (Sam Smith profile)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The reviewed issuer profile confirms this current role. The short public profile supports a preliminary role-alignment observation only; independent evidence on delivered outcomes and full tenure is insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the documented role and experience, not a claim of responsibility for a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

Our team (Executive or management profile: Sam Smith; current role and available career detail)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.

  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Craig McPherson

CFO & Company Secretary

Current
Full background report for Craig McPherson

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Full background report

Craig McPherson

CFO & Company Secretary

Career chronology

  • Since 2013-01-15: Santana Minerals Limited — CFO & Company Secretary. Our team (Management/director profile; current role)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The reviewed issuer profile confirms this current role. The short public profile supports a preliminary role-alignment observation only; independent evidence on delivered outcomes and full tenure is insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the documented role and experience, not a claim of responsibility for a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

Our team (Executive or management profile: Craig McPherson; current role and available career detail)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.

  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Paul Miles

General Manager

Current
Full background report for Paul Miles

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Full background report

Paul Miles

General Manager

Career chronology

  • Current role at evidence cutoff; start date not established in reviewed source: Santana Minerals Limited — General Manager. Our team (Management/director profile; current role)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The reviewed issuer profile confirms this current role. The short public profile supports a preliminary role-alignment observation only; independent evidence on delivered outcomes and full tenure is insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the documented role and experience, not a claim of responsibility for a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

Our team (Executive or management profile: Paul Miles; current role and available career detail)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.

  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Dave Stretch

Project Manager

Current
Full background report for Dave Stretch

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Full background report

Dave Stretch

Project Manager

Career chronology

  • Current role at evidence cutoff; start date not established in reviewed source: Santana Minerals Limited — Project Manager. Our team (Management/director profile; current role)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The reviewed issuer profile confirms this current role. The short public profile supports a preliminary role-alignment observation only; independent evidence on delivered outcomes and full tenure is insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the documented role and experience, not a claim of responsibility for a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

Our team (Executive or management profile: Dave Stretch; current role and available career detail)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.

  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Cheryl Low

Environment Manager

Current
Full background report for Cheryl Low
EnvironmentDocumented · Medium materiality

EPA panel requested a site-specific hazardous-installations risk assessment

The EPA request dated 26 May 2026 was addressed to Matakanui Gold c/o Cheryl Low and sought a site-specific assessment of environmental risks from hazardous installations, including natural hazards. The regulator’s reports page records that Matakanui Gold requested an extension and filed a response on 22 June. This is a technical information request in a live consent review, not an enforcement action or a finding that Low or the applicant breached environmental law.

Individual involvement documented · The official letter names Low as the applicant contact; it establishes her interface role, not authorship of the requested technical assessment or personal responsibility for any hazard.

Bendigo-Ophir Gold Project reports and advice · RFI 6 applicant response listing, 22 June 2026
Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.
  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Full background report

Cheryl Low

Environment Manager

Career chronology

  • Current role at evidence cutoff; start date not established in reviewed source: Santana Minerals Limited — Environment Manager. Our team (Management/director profile; current role)

Environmental record

EPA panel requested a site-specific hazardous-installations risk assessment

May–June 2026 · documented · medium materiality

The EPA request dated 26 May 2026 was addressed to Matakanui Gold c/o Cheryl Low and sought a site-specific assessment of environmental risks from hazardous installations, including natural hazards. The regulator’s reports page records that Matakanui Gold requested an extension and filed a response on 22 June. This is a technical information request in a live consent review, not an enforcement action or a finding that Low or the applicant breached environmental law.

Attribution: Individual involvement documented. The official letter names Low as the applicant contact; it establishes her interface role, not authorship of the requested technical assessment or personal responsibility for any hazard.

Relevance: Directly relevant to environmental permitting and management of project-risk questions; sufficiency remained for the panel to assess.

Request for information from Matakanui Gold Limited regarding the Bendigo-Ophir Gold Project (RFI 6) (pp. 1–2, recipient, question and due date); Bendigo-Ophir Gold Project reports and advice (RFI 6 applicant response listing, 22 June 2026)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The reviewed issuer profile confirms this current role. The short public profile supports a preliminary role-alignment observation only; independent evidence on delivered outcomes and full tenure is insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the documented role and experience, not a claim of responsibility for a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

Our team (Executive or management profile: Cheryl Low; current role and available career detail)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened sources.

  • The grouped adverse-topic search was preliminary; person-specific regulator, court, safety, environmental, insolvency, fraud and governance checks remain incomplete.

Alex Nichol

Geology Manager

Current
Full background report for Alex Nichol

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Full background report

Alex Nichol

Geology Manager

Career chronology

  • Current role at evidence cutoff; start date not established: Santana Minerals Limited — Geology Manager. Our team (Our team profile: Alex Nichol)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The issuer team page confirms this current role. The available profile provides only a preliminary role-alignment basis; delivery history and independent verification are insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the disclosed role, not an outcome attribution.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or controls.

Our team (Our team profile: Alex Nichol)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.

  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Christian White

Financial Controller

Current
Full background report for Christian White

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Full background report

Christian White

Financial Controller

Career chronology

  • Current role at evidence cutoff; start date not established: Santana Minerals Limited — Financial Controller. Our team (Our team profile: Christian White)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The issuer team page confirms this current role. The available profile provides only a preliminary role-alignment basis; delivery history and independent verification are insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the disclosed role, not an outcome attribution.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or controls.

Our team (Our team profile: Christian White)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.

  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Tony Lee

Commercial Manager

Current
Full background report for Tony Lee

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Full background report

Tony Lee

Commercial Manager

Career chronology

  • Current role at evidence cutoff; start date not established: Santana Minerals Limited — Commercial Manager. Our team (Our team profile: Tony Lee)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The issuer team page confirms this current role. The available profile provides only a preliminary role-alignment basis; delivery history and independent verification are insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the disclosed role, not an outcome attribution.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or controls.

Our team (Our team profile: Tony Lee)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.

  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Roger Bain

Health and Safety Manager

Current
Full background report for Roger Bain

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.
  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.

Full background report

Roger Bain

Health and Safety Manager

Career chronology

  • Current role at evidence cutoff; start date not established: Santana Minerals Limited — Health and Safety Manager. Our team (Our team profile: Roger Bain)

Suitability for the current role

Role alignment; record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

The issuer team page confirms this current role. The available profile provides only a preliminary role-alignment basis; delivery history and independent verification are insufficient for a broader performance judgment.

Attribution: Responsibility not applicable. This is an analyst assessment of the disclosed role, not an outcome attribution.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or controls.

Our team (Our team profile: Roger Bain)

Evidence gaps

  • Full dated employment chronology, independently verified education and concurrent board interests were not established from the opened source.

  • Person-specific adverse-topic checks in regulator, court, safety and environmental records remain incomplete.