Yesterday, Santa Fe Gold Corporation (OTC:SFEG) went up on the stock market for the third time in a row. Closing the session at $0.95 per share, SFEG stock added another 1% to its value, shifting in excess of 104 thousand shares. The surge came exactly two weeks after the company submitted its latest 10-Q form.
The latter covers the three-month period ended Sep. 30, 2011 and it marked continued growth in revenue and profitability on an annual basis. In a nutshell, the report disclosed:
- cash reserves of approx. $1.3 million vs. $3.2 million a/o Sep. 30, 2010;
- working capital deficit of $12.2 million as opposed to $12.9 million a/o Sep. 30, 2010;
- quarterly revenue of $2.55 million in comparison with $0.77 million in Q3 of 2010;
- net income of $0.7 million vs. net loss of $3.95 million.
Following the publication of the quarterly report, SFEG shares gained 2.5% in value.
Incorporated in Delaware back in 1991, Santa Ge Gold Corporation is a U.S. mining company focused on acquiring, exploring and developing mineral properties nationwide. At present, SFEG holds interest in two New Mexican gold properties, as well as an Arizonian mica project.
As seen on the chart, SFEG has been one of the less volatile penny stocks for the last six months. That is why, SFEG stock is currently stronger than the stock of other pink sheets. Provided that the company really strikes gold, it will definitely maximize its intrinsic value, which is of course only the best-case scenario.
