Soon after Santa Fe Gold Corporation (OTC:SFEG) proudly announced it had secured financing for its Columbus Silver Acquisition, its stock started to enjoy increased investor interest.
Yesterday, SFEG went up 6% to four-week high of $0.93 per share. However, what seems more interesting is the fact that SFEG managed to do so on a volume of approx. 480 thousand, which is a six-month record for the company. Which, in turn, suggests that SFEG could endure even higher volume pressure if such should arise.
As it seems, the reason why this happened most probably relates to the official press release which also saw the light of day on Dec. 28. In a nutshell, the update served to inform interested parties that SFEG had now obtained the funds needed to bring its acquisition of Columbus Silver to successful completion on condition that transaction be closed until Dec. 31.
The impact of the aforementioned acquition on SFEG has yet to be estimated. At this stage, however, it is not quite clear how exactly things will work out.
