• Began gold-silver production in January 2021

  • Successful silver & gold production, exploration & development 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 Company offers investors leverage to gold and silver prices. We hold independently-prepared Technical Report Summaries (SEC S-K 1300-compliant) and Preliminary Economic Assessments (NI 43-101-compliant) on five of our precious metals projects. Our operating Rodeo gold mine has since 2021 generated cash that supports our exploration and development work at other projects. We began gold production at Rodeo in January 2021 and estimate this mine will operate until mid-2023, at which point we will have a stockpile of lower grade material that may be produced thereafter, depending on market conditions.

In early 2023, we announced that terms for the sale of our Velardeña Properties gold-rich pyrite concentrates have improved significantly over previously-available terms. We believe the improved terms allow us to consider moving forward with the re-opening of the Velardeña Properties’ mines without the need to build the BIOX plant we previously contemplated. We are now evaluating plans to restart production at Velardeña as soon as the third quarter 2023 without the need for the BIOX facility.  

In March 2023, we restarted our flotation plant (Plant I) to process 3,000 tonnes of mineralized material that had been stockpiled during the test mining in 2022. Under the new concentrate sales terms, subsequent to March 31, 2023, 342 tonnes of gold-pyrite concentrate and 40 tonnes of silver-lead concentrate have been sold under an offtake agreement. The three shipments that have been completed subsequent to March 31, 2023 generated cash receipts of approximately $1.1 million. There is one remaining shipment of approximately similar tonnages to each of the previous three that is expected to be completed during May 2023. These successful sales of concentrates on the improved terms have caused us to shift our efforts towards a restart of Velardeña without the requirement of constructing and using the BIOX technology. An internally-prepared updated forecast assuming gold and silver prices of $1,900 and $22.50 per ounce, respectively, indicates that Velardeña can generate a positive operating margin within one month of restarting operations. 

We hold a number of exploration projects in our pipeline, including several which have shown potential through drill results to date:  the Sarita Este gold prospect in Argentina, and the El Quevar silver project in Argentina (currently farmed out to Barrick; Barrick has reported interesting initial drill results in its search for gold on the property). With an effective date of February 24, 2023, an initial mineral resource estimate was completed for our Yoquivo silver-gold project 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.

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