---
schema_version: "secwatch.filing_event.v1"
accession: "0001096906-24-000573"
form_type: "8-K"
ticker: null
cik: "0000851726"
company_name: "Santa Fe Gold CORP"
filed_at: "2024-03-26T23:59:59+00:00"
generated_at: "2026-06-04T08:15:22.564545+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Santa Fe Gold terminates mining project, records $1.4M write-down on mineral rights

## Summary
- Terminated Duncan, AZ mill/mine project after failing to secure affordable financing; water rights canceled in mid-November.
- Proposed loan interest rate exceeded prime rate plus declining gold/silver prices reduced cash flow projections by ~$500K.
- Monthly mine payments were set to increase to $175,000, worsening project economics.
- Will record a $1.4M write-down of mineral rights in Q1 2024 financial statements; focus shifts to TMRC/Alhambra project.

## SEC filing metadata
- accession: 0001096906-24-000573
- form_type: 8-K
- cik: 0000851726
- company_name: Santa Fe Gold CORP
- filed_at: 2024-03-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/851726/000109690624000573/0001096906-24-000573-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/851726/000109690624000573/sfgc-20240321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001096906-24-000573
- JSON: https://secwatch.observer/filing/0001096906-24-000573.json
- Plain text: https://secwatch.observer/filing/0001096906-24-000573.txt

## Key facts
- Restructurings & Charges
  Santa Fe Gold CORP announced a impairment with charges of $1,400,000 affecting mineral rights.
  - Type: impairment
  - Charge: $1,400,000
  - Affected area: mineral rights
  source text: The Company in our financial statements for the quarter ending March 31, 2024, will recognize a write down of $1,400,000 in mineral rights with the termination of the Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/851726/000109690624000573/0001096906-24-000573-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.