Santa Fe Gold (OTCBB:SFEG) reported revenues of $14.6 million for the year ended June 30, which represents an increase of 49 percent over 2012. However, the company’s gross profit earned from mining operations declined 32 percent to $2.4 million in 2013.
As quoted by the press release:
“We are pleased to be able to announce continued significant growth in revenues and continued positive earnings from mining operations despite lower metal prices,” commented Pierce Carson, President and CEO. “We also are excited about our growth prospects for 2014. The recent developments at Summit are expected to contribute to higher grades and increased production in 2014.