SFEG | Record Revenues Could Be All Santa Fe Gold Needed

SFEG Stock, Santa Fe Gold Corp., Cheap Gold Stocks, Gold Stocks, Today’s announcement from gold explorer Santa Fe Gold Corporation (SFEG) could finally be the spark the penny stock needed to get itself back on track. Reporting pre-market increased revenues and net earning for the period ended September 30, 2012 just over a month after filing their 10-K for the fiscal year ended June 30, 2012, SFEG stock is one to have a close watch on the volume side of things considering how undervalued it is at its current price.

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SFEG, SFEG Stock, Santa Fe Gold Corp., Good Gold Stock, Cheap Gold StocksSFEG Stock Chart

Market Cap: 31.73M
Close: 0.27, no change
Volume: 16,550
Dollar Volume: $41,470
High: 0.27
Low: 0.26
50 day Moving Average: 0.3405
200 day Moving Average: 0.6175
Authorized: 300,000,000
Issued and Outstanding: 117,537,970

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Prior to the market open, Sante Fe Gold reported a 130% increase in revenue to a record $5.9 million for the three months ended September 30, 2012 coupled with a 55% increase in earnings from mining operations to $1.4 million for the three months ended September 30, 2012. The revenue numbers for the quarter are more than 50% those reported for the entire fiscal year ended June 30, 2012.

Just look at the revenue numbers for the last three fiscal years for Santa Fe Gold:

      • 2012: $11,531,869
      • 2011: $6,440,897
      • 2010: $320,145

Furthermore, the gold exploration Company gave guidance for the future quarter by reporting that:

• On October 22, 2012, the Company closed an option agreement with Columbus Silver Corporation to acquire the Mogollon Project, Catron County, New Mexico, in exchange for payments aggregating $4,500,000 scheduled to be paid through the end of 2014.

• On October 11, 2012, the Company  signed a Binding Heads of Agreement to pursue a merger with International Goldfields Limited (IGS.AX). Upon completion of the proposed merger and a $5.0 million placement into IGS, existing SFEG and IGS shareholders are expected to own 61.57% and 27.11%, respectively, of the outstanding shares of the combined company’s common stock. The transaction is expected to close in the first quarter of calendar 2013.

• On November 7, 2012, the Company received $4.0 million in loan advances from IGS in fulfillment of a condition of the Binding Heads of Agreement.

About SFEG Stock

Santa Fe Gold Corporation  is a U.S. mining company focused on acquiring, exploring and developing mineral properties. The Company’s principal 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.

Click here to view the SEC filings for SFEG.

Bottom Line: SFEG is am undervalued penny stock and worth a watch. Based on the 5 and 10 day average volume numbers, 127,269 and 145,167 respectively, look for a breakout before getting involved. With SFEG stock trading .07 below its 50 day moving average, today’s pre-market news could easily bank in a 25% gain.

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