Overview

Golden Minerals is a precious metals exploration mining company that offers investors leverage to gold and silver prices. The company holds a number of exploration projects in its pipeline, several which have shown potential through drill results to date, including the Sarita Este gold prospect in Argentina and the Yoquivo silver-gold project in Mexico. With an effective date of February 24, 2023, an initial mineral resource estimate was completed for Yoquivo 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. The company announced it signed an agreement in October 2024 to sell Yoquivo to a third party.

Capital Resources and Financial Outlook

(as published in the company's October 24, 2024 press release)

The Company continues to hold an interest in several remaining exploration properties, including Sarita Este/Desierto, a gold-silver-copper exploration project located in northwest Salta Province Argentina and Sand Canyon, an exploration-stage, gold-silver project in northwestern Nevada.  The Company will not be able to further explore or develop any of its properties without the receipt of additional capital.

As previously disclosed, the Company ceased mining at the Velardeña mines in Mexico in the first quarter 2024, and subsequently sold the mines and certain related assets. The Company is still owed US$1.8 million plus VAT of the purchase price for the remaining Velardeña assets. The Company’s only near-term opportunity to generate cash flow to meet its expected cash requirements is from the sale of assets, equity or other external financing. With the receipt of the proceeds from the sale of the El Quevar project, as of October 24, 2024 the Company has cash and cash equivalents of approximately $3.6 million and accounts payable of approximately $1.6 million.

The Company is taking actions to address its liquidity and financial stability concerns. As a part of these efforts, the Company is evaluating and pursuing alternatives, including the potential sale of the Company, finalizing the sale of its assets at the Velardeña Properties, seeking buyers or partners for the Company’s other assets or obtaining equity or other external financing. The proceeds from these sales would be directed toward addressing the Company’s ongoing operating expenses and satisfying its liabilities, while seeking to maximize any remaining value for its shareholders. If the Company is unable to obtain additional resources, it may be forced to cease operations and liquidate.

Capital Structure

Capital Structure (as of September 3, 2024)

¹ Key Employee Long Term Incentive Plan
² As of October 24, 2024 (as published in the company's October 24, 2024 press release)

Numbers may not sum due to rounding.

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