• Concluded gold-silver mining operations at the Rodeo open pit mine in the third quarter of 2023.

  • Silver & gold mining exploration company with projects in Mexico, Argentina and Nevada.

  • Partnering with Barrick at El Quevar- Salta, Argentina

  • We recognize employees and business partners as critical assets

  • Offering investors leverage to silver and gold prices


Golden Minerals is a precious metals exploration company that offers investors leverage to gold and silver prices. The company holds around a dozen exploration projects in its pipeline, with independently-prepared Technical Report Summaries (SEC S-K 1300-compliant) and Preliminary Economic Assessments (NI 43-101-compliant) for several of its projects. Several projects have shown potential through drill results to date, including the Sarita Este gold prospect in Argentina, and the El Quevar silver project in Argentina. An initial mineral resource estimate was completed for the Yoquivo silver-gold project In Chihuahua State, Mexico (effective date February 24, 2023) that estimates an inferred mineral resource of 937,000 tonnes at 570 g/t Ag eq (equivalent ounces are calculated using prices of $1,840/oz Au and $24.00/oz Ag) on five veins that had enough drill density to support mineral resources.

Capital Resources and 12-Month Financial Outlook

The Company does not currently have sufficient resources to meet its expected cash needs during the twelve months ended March 31, 2025. At March 31, 2024, the Company had current assets of approximately $5.3 million, including cash and cash equivalents of approximately $2.4 million. On the same date, it had accounts payable and other current liabilities of approximately $6.5 million. Because the Company has ceased mining at the Velardeña mine, its only near-term opportunity to generate cash flow is from the sale of assets and equity financings.

Golden Minerals will require further sources of capital. In order to satisfy the Company’s projected general, administrative, exploration and other expenses through March 31, 2025, the Company will need approximately $6.0 to $8.0 million in total capital inflows. These capital inflows may take the form of asset sales such as from the anticipated closing of the sale of Velardeña assets for $5.5 million, collection of the Company’s outstanding receivable, equity financing activities, or otherwise.

As of March 31, 2024, Golden Minerals had VAT receivable in Mexico of approximately $1.1 million. Although the Company believes it is likely it will receive some material portion of this receivable in the second and third quarters of 2024, there is no certainty as to the timing and amount of such payment.



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