Tallahassee, FL 2/10/12 (StreetBeat) -- Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce the financial results for its 2012 fiscal first half ending December 31, 2011.Continued Growth in Revenue
Santa Fe recorded revenue of $4,469,219 for its 2012 fiscal first half ended December 31, 2011, up 257% from revenue of $1,250,262 in the corresponding first half of fiscal 2011. The increase of $3,218,957 is due to increased production at the Summit mine and related shipments of precious metals concentrate, flux material and the sale of refined gold. Full financial results are available in the Company’s Form 10-Q filed with the SEC and available at www.sec.gov.
“We continue to increase production at our Summit silver-gold mine in New Mexico and are closer to our target of commercial production, which we expect to achieve during the current quarter,” said Pierce Carson, CEO of Santa Fe. “With higher production and continued strength in gold and silver prices, we are optimistic that we will see even stronger operating results in the coming quarters.”
Columbus Silver Acquisition
Santa Fe continues to make progress on its pending acquisition of Columbus Silver Corporation (TSXV: CSC) pursuant to which Santa Fe will conditionally acquire Columbus Silver for cash. The company expects the transaction to be concluded in March or April 2012.
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