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Excellent Interview that mentions AUMN's potetnial...
Along with several other stocks that I really like!
http://www.theaureport.com/pub/na/8787
Another silver play?
CL: Yes: Golden Minerals Company (AUMN). Golden Minerals and Alexco have similar characteristics, namely that their silver is extremely high grade. El Quevar is Golden's flagship property in northern Argentina. It's in the high Andes, and there's nobody living there. There's plenty of water. The company has only explored a small area, but has already found very high silver content, and it's expanding its resource.
Early on, the company was talking about 6 Moz., but it can build a much larger silver mine and increase capacity. Because of the grade, today's silver price gives the company a huge margin. Plus, Golden Minerals owns huge properties throughout South America and Latin America, including Mexico. It's a spinoff from Apex Silver, which went into bankruptcy, and all the exploration properties came to Golden Minerals. Apex put in its claim very early, and they own a lot of very good and important properties throughout South America.
I'll second that! em
Just not coming together fast enough for the momo crowd would be my guess...
That is a monster deposit they are sitting on, something like 400 mill oz eq of silver I think...
One day it will rise again if Silver can stabilize...
GWMGF is the next monster imo...
I was in for a while...been watching it...I really didn't want ti "invest" in that, but made a nice trade.
WTH is wrong with AUMN?
Fortunately I got out above 26, played it real quick a couple times on the way down...currently not in.
The Gold Report Interview with Alka Singh (12/20/10)Alka Singh: My favorite silver companies [include] Golden Minerals Company. Golden Minerals is the one I just visited in Argentina, and I think that their El Quevar project is very interesting and has a lot of potential upside. The company's market cap is still under $400 million, and I think it has a long way to go. It is still drilling right now, and all the labs around the world are backlogged. It's already drilled 10 holes on the Carmen prospect and has been waiting for assays for roughly two weeks now. So, the investment thesis on Golden Minerals is this: The Yaxtché zone contains 100% of the company's resources, which is roughly 60.5 Moz. silver. Now based on recent drilling, the geologists on site believe they have two other sub-parallel zones to Yaxtché. One is the Carmen target and the other is Mani (500 m south of Yaxtché). They are parallel to Yaxtché, and if the geologists can prove they are sub-parallel veins to Yaxtché, the resource estimate could even triple. Right now, the company is completing a feasibility study on El Quevar. Once that's reported, we can model the mine very easily. We can build a financial model of the mine that will make us even more confident in the number of ounces, as well as the production and cost numbers. I see the market cap easily doubling once that happens.
TGR: How large can this Yaxtché deposit be?
AS: If the sub-parallel zones are as big as the Yaxtché, about 180 Mozs. of silver. Even if the zones turn out to be smaller, sub-parallel zones, I think Golden Minerals' El Quevar can easily come up with more than 100 Moz of silver.
View Entire Article: Alka Singh: Gold Equities' Upside Greater than Gold
I've never understood why this stock always gets hammered on the days when Silver is up big. It's been like that the past 2 or 3 months. It always seems to catch up eventually, but it's never any fun to see it lag the other silver stocks on those days.
GOLDEN MINERALS COMPANY
AUM : TSX : C$28.76 | C$435.00M
Speculative Buy, C$36.00
Say Yaxtche! Building a high-grade silver producer in a flash; initiating coverage with a SPECULATIVE BUY rating and a C$36.00 target (full report)
Eric Zaunscherb, 1.604.699.0829
Initiating coverage with a C$36.00 target price and SPECULATIVE BUY rating
Our target price implies a 25% 12-month projected return. The rapid development of the Yaxtche -- El Quevar project could allow investors to capture relative value appreciation through P/NAV multiple expansion.
Extensive silver and gold project growth pipeline, near-term catalysts
Results from exploration on the west of the Yaxtche deposit could extend silver mineralization as much as 65% along strike, while drilling at the Zacatecas project in Mexico is intensifying. Positive silver-gold values could also create meaningful shareholder value in the short term.
Highly experienced management team with operating and financial acumen
Management are highly experienced mine builders and operators. The company has no debt and over US$120 million in cash to fund a significant portion of the El Quevar project's development. This provides an excellent way to gain exposure and leverage to buoyant precious metal markets.
Valuation
We value Golden Minerals' shares using our peak US$30.00/oz silver price forecast, which generates a C$45.10 corporate NAV per adjusted fully diluted share. We apply a 0.8x target P/NAV multiple to obtain our 12-month target price of C$36.00 per share. Golden Minerals currently trades at 0.6x our NAV estimate. Our valuation is based on a conceptual mine plan at El Quevar with conservative cost estimates; an H1/11 feasibility study could outline greater production rates and lower costs, leading to potentially higher valuations
The single most salient paragraph:
RELATIVE VALUATION
On a P/NAV basis, using a 5% discount rate and spot US$26.71/oz silver as reference points, Golden Minerals appears largely undervalued relative to the silver producers and
developers in our coverage universe (Figure 13). Golden Minerals trades at only 0.57x P/NAV (5%, US$27.15), which is in line with Bear Creek Minerals (BCM : TSX-V : C$9.24| SPECULATIVE BUY) but substantially below Alexco Resource Corp. (AXR : TSX : C$7.59
| SPECULATIVE BUY) The discount relative to Alexco is expected given Alexco’s incipient production in the Keno Hill silver district in Yukon; the market pays higher multiples for
producing assets than for developers. With this in mind, the convergence of Golden Mineral’s P/NAV to the average of junior silver producers (note Fortuna Silver) should be
commensurate with the potentially rapid pace at which Golden Minerals is developing its El Quevar project. Thus, investors may be able to quickly capture an expected increase in relative value through multiple expansion.
Looks like an MM sneaked in an almost 300K share trade at the close yesterday. Either one of the big boys was unloading (which means a big seller is now out of the way) or another institution just jumped on the train. It's a positive either way.
Wouldn't be surprised. AUMN was very strong today amid miner weakness everywhere else.
AUM) GOLDEN MINERALS Target $100 (current SP ~$27)
Market Call Tonight : November 22, 2010 : Part Seven [11-22-10 7:45 PM
BNN speaks to Michael Smedley, Chief Portfolio Manager, Morgan Meighen & Associates. FOCUS: Canadian equities
02:05 minute mark http://watch.bnn.ca/#clip378999
Rotf........!!!
I'm not you, I always kiss Ico's ass and give DC a reach around...
Now that Bale guy however can kiss my Grits!
just tell him to kiss it!
Just noticed this was the AUMN board, we should be talking about this over on the Apogee board, the mod here is a real ahole, I'll probably get another nasty pm now...
AGEEF getting volume this afternoon..
Are you up in Canada? maybe u can call them...
This is the best piece of PR that I have found. They have an option to own 100% of the mine from AUMN but i don't have an idea of a production timeline, sounds like they might be a ways off but the property has been mined before, later on in this PR it outlines about a $60 million start up cost, and they just raised about $30 million with warrants at .25...
The Pulacayo-Paca property is located in southwest Bolivia, approximately 20 kilometres east of the town of Uyuni in the Department of Potosi. (Figure 1) .The property includes the past producing Pulacayo Mine which was the second largest silver mine in Bolivia’s history with past production exceeding of 600 million ounces of silver [NTD: source?]. Apogee has been exploring the property since September, 2005 when it entered into a joint venture agreement with Golden Minerals Ltd. (formerly Apex Silver Mines) to earn a 60% interest in the property. In January 2010, Apogee and Golden Minerals reached an agreement whereby Apogee can acquire 100% of the property. (See Press Release dated January 26, 2010). The property hosts two epithermal silver-lead-zinc deposits with National Instrument 43-101 mineral resources, the Paca and Pulacayo Deposits. (See Press Releases dated February 19, 2007 and October 28, 2008, and the NI 43-101 technical reports dated March 2007 and December 2008 filed under the SEDAR profile of the Company at www.sedar.com.). The Pulacayo Deposit contains a higher grade zone that can be accessed from the historical underground mine workings and that is the focus of the current preliminary economic analysis.
http://www.apogeeminerals.com/docs/news/jun24_2010.php
I'm wondering if the 2011 part is the reason it pulled back hard today after a real strong start?
looks like the Yaxtche is part of their Argentina claim...
These guys sure do know what they are doing...
http://www.goldenminerals.com/elquevar.php
hmmm I wonder if those are Apogee's silver claims too, interesting!
Rodman & Renshaw initiates AUMN with a Mkt Outperform and price target of $50 saying the scale and scope of the El Quevar Project has significantly increased over the last few months. Due to the significant increase in the overall scope of the project, Golden Minerals has delayed the feasibility study which now might be completed for a 1,600 tpd plant compared to the earlier contemplated 800 tpd mill. They expect the feasibility study to now be completed in 2011. Firm also says Yaxtche deposit resources continue to grow; the silver resources have grown from 14.4 Moz in August 2009 to 60.5 Moz in August 2010 - a 320% increase.
That was a nice $2.00 drop and I Doubled down.
Yes Apogee is a great buy at .20. I have been telling people about this stock since .05. I am very happy with my gains but am looking forward to an announcement on building the mine and going into production.
China Mineral Holdings, who also owns controlling rights to hawthorne Gold, owns a big chunk of Apogee also. They will put both of these companies into production soon. Hawthorne is a steal at current prices.
This APE.V/AGEEF has AUMN's silver properties, on Apogee's website their last presentation says they have 80 million oz's of silver...
I think this one could be huge imo, AUMN has gone apeshit lately, if word starts spreading, Apogee could easily be over $1...
http://www.apogeeminerals.com/apog/wp-content/uploads/apogee/APEFactSheet.pdf
This is right on AUMN's website!
http://www.goldenminerals.com/royal_bolivia.php
Dahlman Rose & Co. To Host 1st Annual Global Metals, Mining & Materials Conference
•Press Release Source: Dahlman Rose & Co. On Thursday November 4, 2010, 9:00 am EDT
NEW YORK, Nov. 4, 2010 /PRNewswire/ -- Dahlman Rose & Co., a leading investment bank specializing in the global natural resources supply chain, will host its 1st Annual Global Metals, Mining & Materials Conference on November 17-18, 2010, at the Plaza Hotel in New York City. The two-day conference will feature approximately 50 executives from top-tier metals & mining, precious metals, emerging miners, coal mining and agricultural chemical companies.
"Our inaugural Global Metals, Mining & Materials Conference provides institutional investors with direct access to executive management of global commodities companies," said Simon Rose, Chief Executive Officer of Dahlman Rose & Co. "The two-day event will serve as a who's who among industry leaders. We are proud to sponsor a forum that offers investors valuable insight into the factors affecting the price of key commodities, as well as future industry trends in the metals, mining and materials markets."
The format of the conference will consist of presentations on two tracks by attending companies, one-on-one meetings and panel discussions. Companies scheduled to present include:
Agrium Inc. (NYSE:AGU - News), AK Steel Holding (NYSE:AKS - News), Alcoa (NYSE:AA - News), Allegheny Technologies (NYSE:ATI - News), Alpha Natural Resources (NYSE:ANR - News), Agnico-Eagle Mines (NYSE:AEM - News), ArcelorMittal (NYSE:MT - News), Brush Engineered Materials (NYSE:BW - News), Carpenter Technology (NYSE:CRS - News), Celanese Corporation (NYSE:CE - News), Century Aluminum (Nasdaq:CENX - News), CF Industries (NYSE:CF - News), Cliffs Natural Resources (NYSE:CLF - News), Coeur d'Alene Mines (NYSE:CDE - News), CONSOL Energy (NYSE:CNX - News), Extorre Gold Mines (TSX:XG.to - News), Freeport-McMoRan Copper and Gold (NYSE:FCX - News), General Moly (AMEX:GMO - News), Georgia Gulf Corporation (NYSE:GGC - News), Golden Minerals (AMEX:AUMN - News), Hecla Mining (NYSE:HL - News), Ivanhoe Mines (NYSE:IVN - News), James River Coal Company (Nasdaq:JRCC - News), Kaiser Aluminum (Nasdaq:KALU - News), Kinross Gold (NYSE:KGC - News), Massey Energy (NYSE:MEE - News), Metals USA Holdings (NYSE:MUSA - News), Molycorp (NYSE:MCP - News), The Mosaic Company (NYSE:MOS - News), Newmont Mining (NYSE:NEM - News), Norsk Hydro (OSL:NHY.ol - News), Novagold Resources (AMEX:NG - News), Novelis, Pan American Silver (Nasdaq:PAAS - News), Peabody Energy (NYSE:BTU - News), Rio Tinto (NYSE:RIO - News), Seabridge Gold (AMEX:SA - News), Silver Standard Resources (Nasdaq:SSRI - News), Silver Wheaton (NYSE:SLW - News), Stonegate Agricom (TSX:ST.to - News), Taseko Mines (AMEX:TGB - News), Thompson Creek Metals (NYSE:TC - News), Universal Stainless (Nasdaq:USAP - News), U.S. Gold (AMEX:UXG - News), U.S. Steel (NYSE:X - News), Vale (NYSE:VALE - News), Walter Energy (NYSE:WLT - News), Yamana Gold (NYSE:AUY - News) and Yara International (OSL:YAR.ol - News).
Anthony B. Rizzuto, Jr., Managing Director of Equity Research for Metals & Mining said, "We are pleased to host some of the leading management teams throughout the metals, mining and materials sector. This forum will enable Dahlman Rose's clients a unique opportunity to network with company management and industry contacts in formal meetings and panel discussions."
For further details regarding Dahlman Rose & Co.'s 1st Annual Global Metals, Mining & Materials Conference, please contact events@dahlmanrose.com.
About Dahlman Rose & Co., LLC
Dahlman Rose & Co., LLC (MEMBER: FINRA/SIPC) is a research-driven investment bank focused on transportation, infrastructure, and industries that compose the global supply chain. The firm's industry-leading analysts, bankers, and traders offer unique insight into the companies and markets that provide the building blocks of the global economy. Dahlman Rose's sector specialties include marine shipping, surface freight transportation, air transportation, petroleum exploration and production, and related offshore and oilfield services, metals and mining, coal mining, agriculture and chemicals, and independent power producers. Dahlman Rose is headquartered in New York and has offices in Boston, Houston, and San Francisco. Dahlman Rose provides institutional sales and trading, equity and fixed income research, mergers and acquisitions advisory, and underwriting services. For more information regarding Dahlman Rose, please visit
give me a link please
My list is huge...
I own SMG.V/SGMNF, a canadian with 600K oz's of gold in California at .20
this MMT.V/MAUXF, nigerian oiler looks very interesting...
TAOIF might be the mother load!
watch my little miner board and oil and gas board, serious money to be made in the micro caps...
maybe...but I hate pennies, lol. Which ones are you looking at?
So many cheap mineral plays and oil and gasers too, that is where the big money is going to be made, in the pennies...
MWM, what do you think of the earnings report last night and how do you see the stock reacting to it?
This is interesting, AUMN is JV'd with APE.V...
http://www.goldenminerals.com/royal_bolivia.php
SOURCE: Golden Minerals Company
Nov 03, 2010 18:04 ET
Golden Minerals Reports Third Quarter 2010
GOLDEN, CO--(Marketwire - November 3, 2010) - Golden Minerals Company ("Golden Minerals" or the "Company") (NYSE Amex: AUMN) (TSX: AUM) announces results for the third quarter 2010.
Third Quarter 2010 Financial Results
For the third quarter 2010, Golden Minerals recorded a net loss of $10.3 million, which included $4.0 million of expense related to the El Quevar project, $3.8 million of exploration expense and $1.9 million of administrative expense.
At September 30, 2010, Golden Minerals' aggregate cash and short-term investments totaled $30.6 million, which included $30.3 million of cash and cash equivalents and
.3 million in short term investments. Giving effect to the net proceeds of the Company's public offering and private placement which closed on October 22, 2010, the Company's cash and short-term investments included an additional $103.0 million, for a total of $133.6 million of cash and cash equivalents on a pro forma basis at September 30, 2010.
Golden Minerals closed a public offering of 4,663,250 shares of the Company's common stock, including 608,250 shares issued upon full exercise of the underwriters' over-allotment option, at a public offering price of US$18.50 per share. Concurrent with the closing of the public offering, Golden Minerals closed a private placement with the Company's largest stockholder, The Sentient Group, of an additional 1,190,031 shares of the Company's common stock at the public offering price of US$18.50 per share. The public offering and private placement totaled 5,853,281 shares at a price of US$18.50 per share, resulting in estimated net proceeds to the Company of approximately $103.0 million after deducting underwriting discounts, placement agent fees and estimated offering expenses.
For the remainder of 2010 and through the end of 2011, pursuant to the Company's long term business strategy, Golden Minerals expects to spend up to approximately $16.5 million to fund the completion of the initial feasibility work at the El Quevar project. The Company expects to spend approximately an additional $54 million beginning in 2011 to fund the continuation of exploration drilling, underground drifting, metallurgical studies and related technical, engineering and project assessments to further define the resource. The Company expects to spend approximately $12.5 million to fund exploration on its portfolio of exploration properties through the end of 2011. Depending on the success of the targeted exploration program and generative exploration activities, the Company could spend additional amounts for early and advanced stage drilling programs on its current or new properties. An estimated $9.0 million will be spent through the end of 2011 on general and administrative costs, working capital and other corporate purposes. {should have ~$40 million in the kitty for 2012 (my edit)}
Exploration Update
During the quarter and first nine months of 2010 Golden Minerals continued to focus on defining the extent of the Yaxtché deposit and conducting feasibility work at the Company's 100% controlled El Quevar silver project, located in the Salta province of Argentina. The Yaxtché deposit is one of 11 targets currently identified at the El Quevar project. As of mid October 2010, the Company has completed approximately 52,500 meters of diamond drilling in 254 drill holes. Of these holes, 189 were drilled to test the main Yaxtché deposit for potential mineralization. In addition, as of mid October construction of the underground decline at the Yaxtché deposit has advanced approximately 175 meters of the 225 meters expected to be required to access the zone of mineralization. The Company plans to use the production-sized decline to confirm the resource model and mining methods, and take bulk samples for additional metallurgical testing. Other ongoing work includes metallurgical testing and process design.
During the third quarter 2010 the Company determined that additional drilling is warranted at the El Quevar project to further define the extent of the resource and therefore decided to delay completion of the feasibility study originally scheduled to be completed in the fourth quarter of 2010. A larger resource base may support a higher production rate than initially contemplated. Drilling will focus on extending the Yaxtché deposit both east and west along strike, along with infill drilling. Drilling is also underway or being planned for additional targets outside of the Yaxtché deposit, including Carmen (300 meters north of Yaxtché), Mani (500 meters south of Yaxtché) and Sharon (3 kilometers north of Yaxtché). There are currently three drills operating at the El Quevar project with a fourth drill expected to be on site in the fourth quarter.
During the quarter the Company initiated drilling on the Matehaupil (Rabioso target) and La Pinta projects in northern Zacatecas state in Mexico. Sample results received from the first seven core holes out of a ten hole initial drill program at the Matehaupil project include narrow gold intercepts in three holes. RAB-10-03 intercepted 2.2 meters averaging 2.3 grams per tonne and 3.7 meters averaging 1.4 grams per tonne. RAB-10-06 intercepted 1.3 meters averaging 2.0 grams per tonne and 1.7 meters averaging 4.2 grams per tonne. RAB-10-07 intercepted 1.7 meters averaging 3.0 grams per tonne. The remaining assayed intervals were consistently of low values in gold and other metals. Assay results from additional holes at the Rabioso target are pending. Assay results have been received from the first seven holes out of a planned ten hole rotary drill program at the La Pinta project, directly south of Goldcorp's Peñasquito land position. At La Pinta the Company is selectively drilling rotary holes in an effort to identify the source of intrusive float found at the surface with anomalous base and precious metal values. Results from the first seven holes were uniformly low in gold and base metal values, and the source of the intrusive float has yet to be determined.
All drill assays and intercepts for the holes at the El Quevar project and the Matehaupil project, for which the Company has received and verified results, will be available at http://www.goldenminerals.com/.
Review by Qualified Person, Quality Control and Reports
Results of the Company's drilling program have been reviewed, verified, and compiled under the direction of the Company's Senior Vice President of Exploration, Robert Blakestad, M.Sc., P.Geo, L.P.G., a Qualified Person for the purpose of NI 43-101. Mr. Blakestad has over 35 years of mineral exploration experience, is a Professional Geoscientist registered in Nova Scotia and a Licensed Professional Geologist in the state of Washington.
Drill intercept lengths are down-hole lengths reflecting apparent with true widths ranging from 80% to 95% of the reported down-hole lengths widths of mineralization.
To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and sawn in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory. Prepared samples are direct-shipped to ISO 9001:2001 certified laboratories. Pulp splits of mineralized intervals are re-assayed at certified independent referee laboratories.
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado, primarily engaged in the advancement of its pipeline of exploration projects in Mexico and South America. The Company has a portfolio of 30 exploration projects, including the feasibility stage El Quevar project in the Salta Province of northwestern Argentina, and advanced stage drilling projects in Mexico and Peru. The Company's experienced management team has proven in-house ability to explore, develop and operate mining projects.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and applicable Canadian securities laws, including statements regarding the anticipated expenditures during the remainder of 2010 and 2011 on the El Quevar project and feasibility study, targeted and generative exploration, property holding costs, and general and administrative costs. These statements are subject to risks and uncertainties, including results of exploration including exploration on additional targets at El Quevar; whether continued exploration results will support engineering and other feasibility work on El Quevar or a larger resource at El Quevar; changes in geological interpretations, including the interpretations regarding the westward extension, continuity and strike length of the Yaxtché deposit, including changes resulting from additional drilling, exploration or feasibility work; whether exploration results will be indicative of future exploration results; delays in construction of the drift at El Quevar, results of El Quevar feasibility study work, exploration at targeted projects and generative exploration, uncertainties regarding whether the results of additional exploration at the Company's projects or feasibility work at El Quevar will be positive; unexpected increases in costs of materials and supplies used in exploration activities; fluctuations in silver and other metal prices; technical and permitting issues; title problems; and the ability and success of the Company to continue raising adequate capital and implementing its plans. Golden Minerals Company assumes no obligation to update this information. Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Securities Exchange Commission by Golden Minerals Company, including the Annual Report on Form 10-K for the year ended December 31, 2009.
GOLDEN MINERALS COMPANY CONSOLIDATED BALANCE SHEETS (Expressed in United States dollars) (Unaudited) Pro-Forma September 30, September 30, December 31, 2010 (1) 2010 2009 ------------- ------------- ------------ (in thousands, except share data)AssetsCurrent assets Cash and cash equivalents $ 133,270 $ 30,268 $ 8,570 Investments 335 335 444 Trade receivables - - 1,460 Prepaid expenses and other assets 1,518 1,568 2,087 ------------- ------------- ------------ Total current assets 135,123 32,171 12,561Property, plant and equipment, net 9,084 9,084 7,774Assets held for sale 1,316 1,316 813Prepaid expenses and other assets 447 447 552 ------------- ------------- ------------ Total assets $ 145,970 $ 43,018 $ 21,700 ============= ============= ============Liabilities and EquityCurrent liabilities Accounts payable and other accrued liabilities $ 2,624 $ 2,674 $ 2,428 Other current liabilities 67 67 63 ------------- ------------- ------------ Total current liabilities 2,691 2,741 2,491Other long term liabilities 584 584 651 ------------- ------------- ------------ Total liabilities 3,275 3,325 3,142 ------------- ------------- ------------Commitments and contingenciesEquity Common stock, $.01 par value, 50,000,000 shares authorized; (15,124,567 pro-forma), 9,271,286 and 3,238,615 shares issued and outstanding 151 93 32 Additional paid in capital 183,728 80,784 37,854 Accumulated deficit (41,197) (41,197) (20,276) Accumulated other comprehensive income (loss) 13 13 154 ------------- ------------- ------------ Parent company's Shareholders' equity 142,695 39,693 17,764 Noncontrolling interest in subsidiaries - - 794 ------------- ------------- ------------ Total equity 142,695 39,693 18,558 ------------- ------------- ------------ Total liabilities and equity $ 145,970 $ 43,018 $ 21,700 ============= ============= ============(1) The pro-forma presentation reflects the results of a public offering and private placement of common stock which the Company closed on October 22, 2010. GOLDEN MINERALS COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Expressed in United States dollars) (Unaudited) For The For The Period Period Nine March 25, January 1, Three Months Ended Months 2009 2009 September 30, Ended Through Through -------------------- September September March 24, 2010 2009 30, 2010 30, 2009 2009 --------- --------- --------- --------- ----------- (Successor) (Predecessor) (in thousands, except share data)Revenue: Management service fees $ 98 $ 2,652 $ 11,216 $ 6,010 $ 1,350Costs and expenses: Costs of services (31) (1,179) (2,566) (2,263) - Exploration expense (3,755) (3,598) (9,893) (7,067) (3,482) El Quevar feasibility (4,031) - (10,004) - - Administrative expense (1,868) (2,521) (6,295) (5,857) (4,779) Stock based compensation (559) (609) (1,859) (1,218) (2,717) Other operating income & (expenses), net 76 293 186 305 - Depreciation, depletion and amortization (307) (232) (751) (384) (102) --------- --------- --------- --------- ----------- Total costs and expenses (10,475) (7,846) (31,182) (16,484) (11,080) --------- --------- --------- --------- ----------- Loss from operations (10,377) (5,194) (19,966) (10,474) (9,730)Other income and expenses: Interest and other income 90 106 376 204 1,010 Royalty income 80 272 239 399 88 Interest and other expense - - - - (345) Gain (loss) on foreign currency (65) 76 (53) 170 (13) Gain on extingushment of debt - - - - 248,165 Loss on auction rate securities - (867) - (2,199) (828) Reorganization costs, net - (249) - (917) (3,683) Fresh start accounting adjustments - - - - 9,122 --------- --------- --------- --------- ----------- Total other income and expenses 105 (662) 562 (2,343) 253,516 --------- --------- --------- --------- ----------- Income (loss) from continuing operations before income (taxes) benefit (10,272) (5,856) (19,404) (12,817) 243,786 Income taxes 20 (284) (1,517) (497) (165) --------- --------- --------- --------- ----------- Net income (loss) from continuing operations (10,252) (6,140) (20,921) (13,314) 243,621Income (loss) from discontinued operations - - - - (4,153) --------- --------- --------- --------- ----------- Net income (loss) $ (10,252) $ (6,140) $ (20,921) $ (13,314) $ 239,468 Net (income) loss attributable to noncontrolling interest $ - $ - $ - $ - $ (7,869) --------- --------- --------- --------- ----------- Net income (loss) attributable to the Successor/ Predecessor shareholders $ (10,252) $ (6,140) $ (20,921) $ (13,314) $ 231,599 --------- --------- --------- --------- -----------Other comprehensive loss: Unrealized gain (loss) on securities $ (74) $ (666) $ (141) $ 160 $ 940 --------- --------- --------- --------- ----------- Comprehensive income (loss) attributable to Successor/ Predecessor shareholders $ (10,326) $ (6,806) $ (21,062) $ (13,154) $ 232,539 ========= ========= ========= ========= ===========Net income (loss) per Common/ Ordinary Share - basic Income (loss) from continuing operations attributable to the Successor/ Predecessor shareholders $ (1.15) $ (2.06) $ (2.81) $ (4.46) $ 4.13 Discontinued operations attributable to the Successor/ Predecessor shareholders - - - - (0.20) --------- --------- --------- --------- ----------- Income (loss) attributable to the Successor/ Predecessor shareholders $ (1.15) $ (2.06) $ (2.81) $ (4.46) $ 3.93 ========= ========= ========= ========= ===========Net income (loss) per Common/ Ordinary Share - diluted Income (loss) from continuing operations attributable to the Successor/ Predecessor shareholders $ (1.15) $ (2.06) $ (2.81) $ (4.46) $ (0.06) Discontinued operations attributable to the Successor/ Predecessor shareholders - - - - (0.17) --------- --------- --------- --------- ----------- Income (loss) attributable to the Successor/ Predecessor shareholders $ (1.15) $ (2.06) $ (2.81) $ (4.46) $ (0.23) ========= ========= ========= ========= ===========Weighted average Common Stock/ Ordinary Shares outstanding - basic 8,919,536 2,987,735 7,455,303 2,987,735 59,000,832 ========= ========= ========= ========= ===========Weighted average Common Stock/ Ordinary Shares outstanding - diluted 8,919,536 2,987,735 7,455,303 2,987,735 69,171,400 ========= ========= ========= ========= ===========For additional information please visit http://www.goldenminerals.com/ or
contact:
Golden Minerals Company
Jerry W. Danni
(303) 764-9160
Executive Vice President
Click here to see all recent news from this company
$27.84.... Nice Close... A lot of Buys going in above the ASK in the last minute of trading....
Looks like another good day.
Been on this one for a little while now... Would not be surprised if we saw a push up to $30 this week...
AUMN is a freight train picking up speed.
AUM: World-Class Projects and Still Cheap
J.Taylor's Gold, Energy & Tech Stocks (10/22/2010)
"When our focus is on junior exploration stocks, we. . .tend to think anything over a few dollars is expensive. But 'expensive' is certainly a relative term. The better measure is a company's market cap (price x number of shares outstanding). In the case of Golden Minerals with its close this week at $24.45, it has a market cap of $356M. Is that too high? Well, 'high' is also a relative term. In the case of Golden Minerals, with a very, very strong management team, one of the highest-grade silver mining projects in the world now being developed (the El Quevar in Argentina), several more potentially world-class, advanced-stage projects and some of the most promising grassroots properties in the world scattered in Mexico, Peru and Argentina, my thinking is that this stock is still, even at $24.45, very inexpensive. One analyst recently put a $105 target on Golden Minerals. And Chen Lin has been calling it one of his top two or three picks, as well.
The 51.5 Moz. silver may seem small, relative to the resources of many other companies we cover. But keep in mind that most of those resources come only from the Yaxtche Zone and that this is just one of 12 other zones identified on the El Quevar Property, which management considers a district-sized play. I spoke with Chen Lin last week after he visited with the management in New York, and I must say, Chen was so excited about this company he was having trouble containing himself."
It didn't amount to much and the price went back up shortly thereafter. AH prices usually aren't indicative of the next day open unless the trades are accompanied by heavy volume.
somebody dumped after hours bringing price down to $25.00? HMMMM. . . . .
Here's a nice article on AUMN. Gold and Silver are up big this morning. Today should be another good day.
http://theperfectstock.blogspot.com/2010/10/10-22-10-low-float-undervalued-silver.html
Can you buy put options from this stock?
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GOLDEN MINERALS (AUMN)
Golden Minerals is a unique mining company with a focus on exploration, development and growth through strategic business transactions. The company has a broad portfolio of mineral exploration projects, a strong balance sheet, revenues from royalties, and an experienced management team with global experience.
Golden Minerals' exploration business strategy is to enhance shareholder value through advancing projects from discovery through development into profitable operating mines. The company owns and controls a large number of exploration properties located primarily in the high potential mining districts in Latin America, including the feasibility stage El Quevar Project in northern Argentina.
Golden Minerals owns and controls a diversified portfolio of exploration projects with potential district scale properties in Latin America. Our exploration projects are one of the key components of our business strategy. We maintain three primary exploration offices in Argentina, Mexico and Peru.
To decide whether an exploration project warrants future advancement, Golden Minerals has established minimum requirements that the property must meet. These include minimum requirements for reserves, annual saleable metal production rates, estimated mine development capital and operating costs. Overall, we strive to acquire and advance properties that bring synergy to our existing assets and growth opportunities for the company.
Creates a new leading junior silver mining company with a strong growth profile - Expansion and ramp-up of existing production at Velardeña - Portfolio of exploration assets in the Americas - Increased leverage to silver with gold as well as significant base metals byproduct credits Creates a combined company with greater scale, financial strength and enhanced capital markets profile - Merger provides significant managerial and operational synergies - Strong balance sheet to advance expansion plans at Velardeña and further development of El Quevar - Improves access to capital markets for future growth Unites complementary management teams with proven track records - Golden Minerals' world-class mine building and operating team - ECU's strong technical and exploration expertise Merger supported by Golden Minerals' major shareholder, The Sentient Group, and the board of directors of both Golden Minerals and ECU - Sentient Group (holder of ~19% of Golden Minerals) has expressed an interest in increasing its investment in order to retain its proportionate ownership stake in the combined company, although no agreement has been reached
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