Welcome to our dedicated page for Golden Minerals Company news (Ticker: AUMN), a resource for investors and traders seeking the latest updates and insights on Golden Minerals Company 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) reported its financial results for the second quarter of 2022, showing revenue of $5.9 million and a net operating margin of $1.3 million. This marks a decrease in net operating margin from $2.5 million in Q2 2021. The company recorded a net loss of $2.8 million or $0.02 per share, compared to a loss of $0.8 million in the previous year. Cash and equivalents totaled $9.5 million as of June 30, 2022. Ongoing mining activities at the Rodeo mine produced 3,004 gold ounces and 12,768 silver ounces, but cash costs rose to $1,426.1 per payable gold ounce due to lower grades.
Golden Minerals Company (NYSE-A: AUMN) announced assay results from the first 10 of 22 holes in a diamond drill program at the Sarita Este property in Salta, Argentina. The drilling, completed in June 2022, targeted the 'Sico' epithermal target and revealed significant gold and silver intersections, including 52.5m at 1.49 g/t Au and 5.2 g/t Ag. The results confirm mineralization extends around the Sico target, with a follow-up campaign planned for mid-August. The prospect is located near notable mining projects, potentially enhancing its economic prospects.
Golden Minerals Company (AMEX: AUMN) reported its second-quarter production results from the Rodeo mine in Mexico, revealing significant outputs. The company achieved 3,004 ounces of payable gold and 12,768 ounces of payable silver, translating to a total of 3,158 gold equivalent ounces. The average gold grade was reported at 2.6 g/t, with a daily processing throughput of 522 tonnes. The company realized an average gold price of $1,865 per ounce and silver at $22.49 per ounce for the period.
Golden Minerals Company (AUMN) announces results from its third drill program at the Yoquivo gold-silver project in Mexico. Initial findings include significant intervals such as 2.2m at 10.21 g/t Au and 138.8 g/t Ag, 0.4m at 30.80 g/t Au and 5260.0 g/t Ag, and 80.1m at 0.89 g/t Au and 64.5 g/t Ag. The drilling aims to explore high-grade intercepts and expand mineralized areas. A total of 17 holes totaling 4,033m have been drilled since May 2022. The company anticipates reporting an initial gold-silver resource by year-end, showcasing promising potential for additional high-grade structures.
Golden Minerals Company (AUMN) reported its first-quarter 2022 financial results, showing a revenue increase to $7.5 million from $1.8 million in Q1 2021, yielding a net operating margin of $3.2 million. The company recorded a net loss of $0.3 million or $0.00 per share, an improvement from $3.2 million loss in the previous year. Production included 3,608 ounces of gold and 13,944 ounces of silver. Cash reserves decreased slightly to $11.7 million. Future expectations include net operating margin of approximately $7.0 to $9.0 million from the Rodeo operation over the next year.
Golden Minerals Company (AUMN) has filed updated Preliminary Economic Assessments for its Velardeña Properties and Rodeo Project. These reports are accessible on SEDAR and the company's website. The assessments were prepared by qualified professionals from Tetra Tech, including Dr. Guillermo Ramírez-Rodríguez and Mr. Randolph Schneider. The content has been reviewed by CEO Warren Rehn. Golden Minerals focuses on gold and silver production from the Rodeo Mine and advancing its properties in Mexico and Argentina.
Golden Minerals Company (AUMN) has appointed John Galassini as the new Chief Operating Officer, effective May 9, 2022. Galassini brings over 30 years of extensive mining operations experience, previously holding senior roles at major mining companies. In his new position, he will oversee the company’s Mexican mining operations, including the Rodeo gold-silver mine and the Velardeña Properties, which are nearing a production restart decision. His leadership is expected to enhance the company’s operational capabilities and strategic development in South America.
Golden Minerals Company (AUMN) reported Q1 2022 production results from its Rodeo gold-silver mine in Mexico. Key metrics include: 3,608 oz of payable gold, 13,944 oz of payable silver, and 3,787 AuEq oz produced. The average gold grade processed was 3.1 g/t, with a gold recovery of 75.4% and silver recovery of 82.8%. Payable gold and silver sold reached 3,855 oz and 14,481 oz respectively, with realized prices of $1,888/oz for gold and $24.24/oz for silver.
Golden Minerals Company (AUMN) reported a strong financial performance for the year ending December 31, 2021, with revenues of $25.6 million, up from $5.6 million in 2020, largely driven by the Rodeo mine's operations. The company achieved a net operating margin of $12.3 million and a net income of $1.5 million in Q4 2021. As of year-end 2021, cash and equivalents totaled $12.2 million with zero debt. However, a net loss of $2.1 million was reported for the year. Future projections estimate net operating margins between $7.0 million and $9.0 million for 2022.
Golden Minerals Company (AUMN) announced the completion of Technical Reports for its Rodeo open pit gold-silver mine and Velardeña Properties in Mexico, adhering to NI 43-101 standards. The Rodeo project has a pre-tax net present value (NPV) of $22.9 million over a 24-month life of mine, assuming $1,800/oz gold and $25.00/oz silver. Estimated operating costs are $66.68/t. The Velardeña project displays a pre-tax NPV of $119 million over 11 years. Both projects' economic models include inferred resources, emphasizing the speculative nature of these estimates.
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