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Description
Santa Fe Gold Corporation is a United States mining company. The Company focuses on acquiring, exploring and developing mineral properties. Its assets are the 100% owned Summit silver-gold property located in New Mexico, the leased Ortiz gold project in New Mexico and the 100% owned Black Canyon mica project in Arizona. On September 1, 2010, the Company supplied 3,000 to 6,000 tons of trial siliceous flux material to a smelter in Arizona. It previously provided the smelter with 3,000 tons of similar material earlier in the year. On September 13, 2010, it shipped an initial 20 tons of precious metals concentrate to a European smelter. On August 26, 2010, it announced the Company has contracted with another Arizona smelter to supply a trial shipment of 1,000 tons of siliceous flux material.
At time of writing SFEG is trading at 1.05 up 10%
Is this a goid time to buy? Usd is getting weaker and gold is climbing rapidly.
Santa Fe Gold Corporation (OTCBB: SFEG), a U.S.-based mining and exploration enterprise focused on developing gold, silver, copper and industrial mineral properties,) a company engaged in the same multi-billion dollar industry as Golden Mineral Company (AMEX:AUMN) and Allied Nevada Gold (AMEX:ANV), recently announced the company is nearing full production. At recent gold and silver prices, annual revenues are expected to reach $40 Million. The company has holdings in southwestern New Mexico and Arizona.
“Gearing up for full production” is not a phrase that is often used with junior exploration companies. It is a phrase typically reserved for majors opening a new mine, but in the case of Santa Fe Gold Corporation (OTCBB: SFEG), it was the headline of a recent press release. The key words in that phrase are “full production” and should not be glanced past as they are merely the next stage for this already producing silver and gold miner. This, again, is another rarity as most juniors are only engaged in drilling and exploring while still years – and millions of dollars – away from actual production. Santa Fe Gold did not get to this level by accident. The highly experienced management team has a strong history of finance and exploration for publicly-traded companies. Through a solid business model, the firm has built a diversified portfolio of prolific properties and owns the mill to process the materials. As a result of its strategic moves, Santa Fe is already producing silver and gold ore at its Summit Mine in New Mexico and processing it a few miles away at its Lordsburg Mill. Smelter contracts are intact and being exercised; a fact that completes the revenue cycle for Santa Fe. Because of the efficiency of the negotiated contracts and localization of mills and mines, the Company has a cost basis for their gold production that rivals the lowest rates in the world. All of this: mines, mills, smelters, production and, most importantly, revenue and shares are still hovering around $1 each presenting a rare true value opportunity. To learn more about Santa Fe Gold Corp., interested parties are encouraged to view the Company’s Investor Presentation at http://santafegoldcorp.com/home/investor_presentation.
Permalink Reply by Brian Scalabrine on July 18, 2011 at 9:54pm
Permalink Reply by Stocks To Buy on January 23, 2012 at 11:00am SFEG looks good on the chart....seeing a nice break out today
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