SureTrader SureTrader
Home > Boards > US OTC > Basic Materials >

Santa Fe Gold Corp. (SFEG)

SFEG RSS Feed
Add SFEG Price Alert      Hide Sticky   Hide Intro
Moderator:
Search This Board:
Last Post: 9/19/2016 7:41:46 PM - Followers: 78 - Board type: Free - Posts Today: 0

Santa Fe Gold Web Page    Metals Quote   Google   Bloomberg

 

Santa Fe Gold Ships Initial 40 Tons of Gold and Silver Concentrate under 2011 Contract with German Smelter

Jan. 4, 2011 (U.S. Equity News) --61

Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce it has shipped 40 tons of gold and silver concentrate under the sales contract with Aurubis AG that was announced December 23, 2010. The 40 ton shipment is valued at over $1.0 million and represents the initial delivery against 240 tons contracted for delivery in 2011. The contract with Aurubis AG, Europe's largest copper and precious metals smelter, will provide a sales outlet for a portion of the company's anticipated 2011 production of high-value precious metals concentrate. The sales agreement was reached following a successful smelting trial of an initial 20 tons of concentrate shipped to Aurubus AG in October 2010. The company's Lordsburg flotation mill is producing gold and silver concentrate from its Summit mine located in southwest New Mexico.

"We are pleased to have begun shipments of concentrate under the 2011 Aurubis AG sales agreement, which we consider to be a very favourable agreement," said Pierce Carson, President and Chief Executive Officer. "We expect this initial shipment will be followed by on-going regular shipments of concentrate produced from the Summit mine.

"We also anticipate being in a position shortly to announce an agreement with an Arizona smelter for sales of siliceous flux material. Our strategy is to establish sales of both concentrate and siliceous flux, which will enable us to develop multiple customer outlets and revenue streams."

Production from the Summit mine is expected to increase in tonnage and grade and to reach full, steady production in 2011. Operations at the mine have been accelerated to two 10-hour shifts, seven days a week. Summit ore reserves average 0.143 ounces per ton gold and 10.78 ounces per ton silver (0.35 ounces per ton gold equivalent). At full production, operating costs are projected to be $340 per ounce of gold equivalent produced. 

Santa Fe Gold Enters into Contract to Sell Siliceous Flux to Arizona Smelter for Precious Metals Recovery

Jan. 11, 2011 (Business Wire) -- Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce it has contracted with ASARCO LLC (“Asarco”) to sell 12,000 tons of siliceous flux material for delivery during 2011. At recent gold and silver prices, the contract is valued at up to $4.0 million. The siliceous flux will be shipped to Asarco’s smelter in Hayden, Ariz. The flux material will be processed for precious metals recovery. Santa Fe will be paid for the contained silver and gold less customary charges. The sales agreement was reached following a successful smelting trial of an initial 1,000 tons of siliceous flux shipped to Asarco in 2010. Sale of siliceous flux material involves direct shipment of ore with only minimal processing required.

“We are pleased to have reached this agreement with Asarco for sale of siliceous flux material,” said Pierce Carson, President and Chief Executive Officer. “We also have conducted successful flux trials with another Arizona smelter, Freeport-McMoRan Miami Inc. (“FM Miami”), and are discussing a long-term sales agreement. We believe that sales of flux to Asarco and FM Miami could be quite significant to Santa Fe, and eventually could account for a substantial portion of ore mined at Summit.

“The Asarco flux contract covering a portion of Summit’s anticipated production fits with our strategy of establishing sales of both siliceous flux and concentrate. This strategy will enable Santa Fe to develop multiple customer outlets and multiple revenue streams. We recently announced an agreement to sell concentrates to a European smelter.

“Smelter flux sales also add another dimension to our strategy of expanding Santa Fe’s production profile by processing other ores from the Lordsburg area, utilizing our excess milling capacity. Among other potential advantages, material sold as smelter flux does not have to be milled and therefore frees even more capacity at our Lordsburg mill.”

The Summit mine is ramping up production and is expected to reach full, steady production during 2011. Revenues are expected to increase significantly over the course of 2011, reflecting increases in both tonnage and grades. At full production, annual revenues are estimated as approximately $40 million at recent gold and silver prices. Operating costs are projected to be $340 per ounce of gold equivalent produced. Ore reserves average 0.143 ounces per ton gold and 10.78 ounces per ton silver (0.35 ounces per ton gold equivalent). 

Santa Fe Gold Heads for Full Production at the Summit Gold-Silver Mine

Nov. 23, 2010 (Business Wire) -- Santa Fe Gold Corporation (OTCBB: SFEG) today provided an update on the status of its Summit gold-silver mine in southwest New Mexico. Processing operations began at the Lordsburg mill in April 2010. The Summit mine is on track to reach full, steady production in 2011 from ore averaging 0.143 ounces per ton gold and 10.78 ounces per ton silver (0.35 ounces per ton gold equivalent). Operating costs at full production are estimated as $340 per ounce of gold equivalent produced.

Recently a new internal ventilation shaft was completed and is being equipped with an upgraded fan system. This central ventilation shaft, which is 300 ft in length and 10 ft in diameter, will be extended as deeper levels of the mine are reached. The improved ventilation will allow Summit to operate additional equipment underground, which the company is purchasing. It also will enable additional shifts to be added. Operations are planned to be expanded to two 10-hour shifts, seven days a week. Additional engineering and management personnel also have been employed.

Underground work remains focussed on two objectives, firstly advancement of headings for overall mine development and secondly, mining of two southern ore bodies. Full production at a rate of 400 tons per day is expected to be achieved in 2011 upon reaching the northern larger and higher grade ore bodies that constitute the majority of Summit’s gold and silver reserves. Revenues are projected to increase significantly over the next several months reflecting increases in both tonnage and grades.

Santa Fe is pursuing a strategy of developing multiple revenue streams from smelter sales of its products, including sales of precious metals concentrates and sales of ore as siliceous flux. A large European smelter is nearing completion of its evaluation of a trial shipment of 20 tons of concentrate, with the possible outcome of a long term contact. The company also has agreed terms and is finalizing a contract for concentrate sales to another overseas smelter, beginning with an initial shipment of 20 tons. Sales of flux material have continued to two Arizona smelters. Santa Fe has agreed terms with one of the Arizona smelters on a long term contract for flux sales beginning in January 2011.

Commenting on the outlook for Santa Fe in 2011, CEO Pierce Carson said, “We believe that a combination of actions, if properly timed and executed, could lead to much wider market recognition for Santa Fe’s value proposition in this exciting gold and silver market. Our priorities include obtaining a listing on the AMEX and Toronto stock exchanges, bringing Summit into full production with generation of substantial cash flows, and completing the Columbus Silver acquisition.

“During the coming year the positive impact and added value of the Columbus Silver acquisition will become much clearer. Closing is expected to occur in Q1 2011. The acquisition will result in a substantial increase in Santa Fe’s gold and silver resources and will add tremendous exploration upside. Also, importantly, gold and silver resources derived from Columbus Silver properties potentially could be processed at the Lordsburg mill, possibly doubling the production from Summit. We believe 2011 could be a pivotal year for Santa Fe and its stockholders.”






 

  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
SFEG
Current Price
Volume:
Bid Ask Day's Range
SureTrader
PostSubject
#1439   Looks like new management trying to rebuild trust mebo43 09/19/16 07:41:46 PM
#1438   Good news LexTrader 09/19/16 07:07:38 PM
#1437   8-k out just naming new accountant again like gumzsa 09/19/16 06:16:51 PM
#1436   It's not that they didn't like the news, mebo43 09/15/16 08:43:35 PM
#1435   I think you are right, but I guess eddyimano 09/15/16 02:01:50 PM
#1434   Get in before it's to late. This should roll mebo43 09/15/16 12:44:07 PM
#1433   are we in the condition to produce gold eddyimano 09/15/16 12:07:22 PM
#1432   Good. One step at a time, first eddyimano 09/15/16 12:03:55 PM
#1431   yup audit is huge too bro gumzsa 09/15/16 11:17:52 AM
#1430   Awesome news especially this: ToyotaMR2s 09/15/16 11:14:51 AM
#1429   News out gumzsa 09/15/16 11:08:59 AM
#1428   almost all volume today at or above .065 gumzsa 09/13/16 04:02:23 PM
#1427   Start of something good. MAYBE? mebo43 09/13/16 02:35:34 PM
#1426   SFEG .07/.07 break for new 52 week high ToyotaMR2s 09/13/16 09:32:09 AM
#1425   .07 hit just like that dips get eaten gumzsa 09/13/16 09:31:38 AM
#1424   Yup, someone got no patient, but sometimes it eddyimano 09/12/16 07:40:51 PM
#1423   Don't even have this one on my daily ToyotaMR2s 09/12/16 03:36:04 PM
#1422   Maybe sell off is over!!!!!!!! mebo43 09/12/16 02:58:07 PM
#1421   .0649 hit bids back in like clockwork gumzsa 09/12/16 02:57:34 PM
#1420   Cheers to patience! stocker72 09/12/16 01:22:01 PM
#1419   I too am waiting for something, I mebo43 09/12/16 01:18:46 PM
#1418   The gold price slipping can't be helping this stocker72 09/12/16 01:13:16 PM
#1417   Last news said clearly what one of the gumzsa 09/12/16 12:58:00 PM
#1416   Most of those people are long gone imo gumzsa 09/12/16 12:53:06 PM
#1415   if we could see some news from the mebo43 09/12/16 12:16:34 PM
#1414   I think its profit taking for those who mebo43 09/12/16 12:00:35 PM
#1413   True. Just hoping the big volume today is AZCUminer 09/12/16 11:52:12 AM
#1412   .058 gone like clockwork gumzsa 09/12/16 11:25:12 AM
#1411   It has been longer than a month since mebo43 09/12/16 11:19:06 AM
#1410   I agree, something just happened that could get AZCUminer 09/12/16 11:03:25 AM
#1409   It's beginning to get interesting. Something must be mebo43 09/12/16 10:55:15 AM
#1408   another flush attempt 567k went off at .04 gumzsa 09/12/16 10:49:47 AM
#1407   SFEG bullish 0.05 stocktrademan 09/12/16 10:49:04 AM
#1406   Interesting, 200k retail(e-trade) buy is at bid. eddyimano 09/09/16 03:59:27 PM
#1405   They have plenty of power its getting loaded gumzsa 09/06/16 08:23:25 PM
#1404   Someone wants to buy SFEG, but not much eddyimano 09/06/16 07:21:15 PM
#1403   Volume is not bad today! eddyimano 09/02/16 06:50:34 PM
#1402   decent vol today some big buys today gumzsa 09/02/16 04:06:01 PM
#1401   .064 showing life again amazing that its been gumzsa 09/02/16 11:31:05 AM
#1400   So far so good, Our stock shares mebo43 08/22/16 03:13:27 PM
#1399   .07 where are you, Lets hear some mebo43 08/19/16 10:40:36 AM
#1398   Maybe we will hear some news on the mebo43 08/15/16 02:13:41 PM
#1397   .06 hits would love to see next leg soon gumzsa 08/12/16 02:54:49 PM
#1396   It seems to always get a slow start gumzsa 08/12/16 09:59:58 AM
#1395   I thought SFEG would go up this morning. eddyimano 08/12/16 09:53:00 AM
#1394   Please Help...I have sent numerous requests to stockcharts.com georgie18 08/12/16 06:07:21 AM
#1393   Shoot, that is a good news. I eddyimano 08/12/16 03:42:43 AM
#1392   Been looking for it for awhile now....and it Zblue 08/11/16 02:02:12 PM
#1391   Nice!! Looks good! gumzsa 08/11/16 01:27:20 PM
#1390   Website back in action... Diewarzu86 08/11/16 12:02:28 PM
PostSubject