5 Oct 2018resource reserve update▼ BadMajor
Santa Fe said several earlier press releases (2016–2018) with tonnage, revenue and silver-ounce estimates, including $757 million of projected revenue and $839 million of silver value, did not meet SEC Industry Guide 7 and should not be relied upon. It has removed them from its website. It reports no proven or probable reserves, has done no preliminary economic assessment, and a January 2018 release wrongly said the final $500,000 Alhambra payment had been made. It holds rights to claims in New Mexico's Black Hawk district and elsewhere, has not started exploration and lacks funding for it. The seller of Bullard's Peak terminated the $3.0 million purchase in August 2018 with $500,000 still owed; talks on payment were preliminary.