SFEG - Santa Fe Gold Corp

SFEG is worth over a $1.50 right now on PE. The company has a merger coming up some time first quarter that will increase shareholder value. The stock is bouncing off a five year support solid. Stock has been not moving much but with 4 million in cash given and another 12 deal announced today this will uptrend from here break the major .40 resistance and have legs all the way up.


Strong Buy. If you look on the chart when it sold off in June 2012 that was due to panic selling you can see in the accumulation nobody dumped but held onto shares and waiting. Thats how much trust is in this company. They know if they sold it off it would be 1.50 easy.

Santa Fe Gold Corporation (OTCBB: SFEG) is pleased to announce it has contracted with LS Nikko to sell a minimum of 360 metric tons of high-value gold-silver concentrates for delivery during 2013. At recent precious metals prices, the contract is valued at approximately $12 million. The concentrates will be shipped to LS Nikko's Onsan Smelter in Korea. The Company will be paid for the contained gold and silver less customary charges. Santa Fe's Lordsburg flotation mill produces gold and silver concentrates from its Summit mine located in southwest New Mexico.

"We are pleased to have reached agreement for the sale of concentrates to LS Nikko," said Pierce Carson, President and Chief Executive Officer. "We believe there are strategic advantages in developing multiple outlets for our high quality products. In 2012 we sold concentrates to a German smelter and silica flux material to two Arizona smelters."

In addition to concentrate sales, during 2013 the Company anticipates continuing to sell a substantial portion of Summit output in the form of silica flux material to the two Arizona smelters. Sale of silica flux involves direct shipment of ore with only minimal processing required.

IGS Shareholders Vote in Favor of Merger with Santa Fe Gold 11:49a ET November 26, 2012 (Business Wire) Santa Fe Gold Corporation (OTCBB: SFEG) and International Goldfields Limited (ASX: IGS) ("International Goldfields") today announced that shareholders of International Goldfields voted overwhelmingly in favor of the proposed merger with Santa Fe Gold, at the IGS annual meeting of shareholders held on November 23, 2012, in Perth, Western Australia. The merger is anticipated to close during the first quarter of 2013, subject to regulatory and required consents and approvals. Commenting on the IGS shareholder approval, Santa Fe's Chairman and CEO, Pierce Carson, said, "B]We are pleased that IGS shareholders have voted in favor of the transaction as we believe the new merged company will be capable of adding significant value for its shareholders during a time of robust gold price.[/B] Dr. Carson continued, "Importantly, the merged entity will be a diversified, well-funded and low-cost gold-silver explorer, developer, with projects located in the southwestern US and in emerging gold districts of Brazil and West Africa. It is anticipated that post-merger, IGS ordinary shares will be listed on the ASX and IGS American Depository Receipts will trade on a major US exchange."

At the IGS annual meeting, shareholders overwhelmingly approved all resolutions, most of which related to the merger, including the issue of new IGS securities as merger consideration, the "consolidation" (reverse-stock-split) of IGS ordinary shares on a one for ten (10) basis at closing of the merger transaction, and the change in the composition of the Board of IGS at closing of the merger transaction. As announced earlier this month,IGS already advanced to Santa Fe approximately $4.0 million in cash, thereby fulfilling a condition of the merger agreement. The funds were advanced by way of two secured convertible notes that will be forgiven upon conclusion of the proposed merger.