Welcome to our dedicated page for GOLDEN MINERALS CO news (Ticker: AUMN), a resource for investors and traders seeking the latest updates and insights on GOLDEN MINERALS CO stock.
Golden Minerals Company (Symbol: AUMN) is a precious metals mining company headquartered in Golden, Colorado. With mining operations primarily in Mexico and a portfolio of approximately 30 exploration projects spread across Mexico's silver belt and Argentina, the company is committed to becoming a mid-tier precious metals producer.
The core business strategy of Golden Minerals includes focusing on mining operations in Mexico, setting up a second set of mining assets, securing oxide feed for its oxide plant, and exploring select properties. They are also on the lookout for strategic business opportunities to expand their reach and capabilities.
Golden Minerals owns the Velardeña Properties, which are high-grade silver and gold underground mining operations located in Durango State, Mexico. As of February 2015, Velardeña's NI 43-101 resources include approximately 27 million silver equivalent ounces (AgEq oz) in measured and indicated categories, plus an additional 33 million AgEq oz inferred. The resource grades average over 300 grams per tonne of silver and around 4.5 grams per tonne of gold. Velardeña's resources also contain lead and zinc base metals.
In addition to Velardeña, the company owns the El Quevar exploration property in the province of Salta, Argentina, and a diversified portfolio of precious metals and other mineral exploration properties located in or near historically significant precious metals producing regions in Mexico.
Golden Minerals' business is structured into two main divisions: Mexico Operations and Corporate Exploration and Other. These divisions allow the company to manage its mining activities efficiently while also focusing on exploratory ventures to discover new opportunities.
Golden Minerals Company (NYSE American: AUMN) has announced production figures for its Rodeo gold-silver mine in Durango State, Mexico, for the first quarter of 2023. Key statistics include:
- Tonnes mined: 154,371
- Tonnes processed: 54,272
- Average tonnes per day processed: 603
- Gold produced: 2,081 ounces
- Silver produced: 11,535 ounces
- Average gold grade processed: 1.6 grams per tonne
- Average silver grade processed: 9.0 grams per tonne
- Average gold price realized: $1,891.24 per ounce
- Average silver price realized: $22.60 per ounce
This quarter's operations reflect the ongoing production and recovery capabilities of the Rodeo mine, positioning Golden Minerals favorably in the market.
Golden Minerals Company (AUMN) announced improved terms for selling gold-rich pyrite concentrates from its Velardeña Properties to a buyer in Manzanillo, Mexico. The new terms offer over a 100% increase in gold payables compared to previous terms, allowing the company to reconsider re-opening its Velardeña mines without needing to construct a costly BIOX facility, which had initial cost estimates of $6.5 million and later projections exceeding $20 million. Following the first shipment of 142 tonnes, Golden plans to process 3,000 tonnes of mineralized material for future shipments and aims to potentially restart production by mid-2023.
FAQ
What is the current stock price of GOLDEN MINERALS CO (AUMN)?
What is the market cap of GOLDEN MINERALS CO (AUMN)?
What is Golden Minerals Company?
Where are Golden Minerals Company's mining operations located?
What is the core business strategy of Golden Minerals?
What are the Velardeña Properties?
How are Golden Minerals' business operations structured?
What is the significance of the El Quevar property?
What are NI 43-101 resources?
What metals are produced at Velardeña?
What are Golden Minerals' exploration projects focused on?
How does Golden Minerals aim to grow its business?
