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AUMN closed public offering. . . .
GOLDEN, CO — Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") announced today it has closed its previously announced public offering of 4,663,250 shares of 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 public offering, the Company closed a private placement with its largest stockholder, The Sentient Group, of an additional 1,190,031 shares of common stock at the public offering price of US$18.50 per share. The private placement was conducted pursuant to Regulation S under the U.S. Securities Act of 1933.
Including the over-allotment shares purchased by the underwriters and the private placement shares purchased by The Sentient Group, an aggregate of 5,853,281 shares were issued under the public offering and private placement at a price of US$18.50 per share, resulting in net proceeds to the Company of approximately US$103.0 million after deducting underwriting discounts, placement agent fees and estimated offering expenses. The Company expects to use the net proceeds primarily to fund continued exploration and development of the El Quevar project, including exploration drilling, underground drifting, and related technical engineering and project assessment, in connection with the completion of a feasibility study.
Interview with AUMN CEO Jeffrey Clevenger..
(Click on link below go to 9/7 part 2, & kick back with your favorite barley pop and enjoy ;)
http://www.miningstocks.com/radio/jayradio.php
Post Soviet Lessons for a Post American Century 9/7
Part 2 Golden Minerals President and CEO Jeffrey Clevenger says the mining company is focused on exploration, development, providing mine services
AUMN Golden Minerals target lowered to $85.17 at Dahlman Rose (24.25 +4.95)
Dahlman Rose lowers their AUMN tgt to $85.17 from $104 after the co announced a $75 mln bought deal equity financing. Firm notes proceeds are to be used for development and exploration properties, working capital, and general corporate purposes. Firm notes based on the new fully diluted share count of 13.8 mln shares and the estimated net proceeds for the issuance (not including the execution of the over-allotment option), they have adjusted their valuation. Firm says the new financing should be sufficient to bring the Company's El Quevar asset to production.
AUMN will go to $100.00 even with the current dilution in my opinion. There are very few places left in the world with this much Gold and Silver (SFMI might be another). The only thing that would stop it is a buy out and I pray that doesn't happen. We do not want to be bought out, unless of course the offer was $100.00 per share.
It's a combination of many things, millions of ounces of gold, billions ounces of silver, 9 million shares outstanding, Gold and Silver going parabolic, and great management.
One of the best performing stocks in my portfolio and I am adding more shares at ever pull-back.
You are exactly right my friend. These prices are a gift to anyone wise enough to understand where this stock is going. $100.00 at todays prices? What will it be worth at $1650 Gold?
Golden Minerals Announces Terms of US$75 Million Equity Financing
GOLDEN, CO, Oct 07, 2010 (MARKETWIRE via COMTEX) -- Golden Minerals Company
(NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") is pleased to
announce that in connection with its overnight marketed public offering
previously announced on October 6, 2010 (the "Offering"), it has entered into an
underwriting agreement with a syndicate of underwriters led by Canaccord Genuity
Corp. and including Dundee Securities Corporation, Haywood Securities Inc.,
Rodman & Renshaw, LLC, Roth Capital Partners and Scarsdale Equities LLC (the
"Underwriters") to sell 4,055,000 shares of common stock of the Company at a
price of US$18.50 per share ("Common Shares") for gross proceeds of
US$75,017,500. In addition, the Company has granted the Underwriters an
over-allotment option to purchase up to that number of additional Common Shares
equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at
any time up to 5 days after the closing of the Offering.
In connection with the Offering, a preliminary short form prospectus has been
filed in Alberta, British Columbia and Ontario, and a preliminary prospectus
supplement has been filed with the United States Securities and Exchange
Commission (the "SEC").
The Company intends to use the net proceeds of the Offering for continued
exploration, underground drifting and project assessment at its El Quevar silver
project in northwestern Argentina, exploration of certain properties in Mexico,
Argentina and Peru and for working capital and other general corporate purposes.
The Offering is expected to close on or about October 21, 2010 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals including the approval of the NYSE Amex, the Toronto Stock Exchange
and other securities regulatory authorities.
i don't know, hoping its not something bad!
Why is it halted?
My best performing stock for the month of Sept. Have been adding to my position in after hours trading because for some reason it keeps going on sale. Has anyone else noticed this trend?
Golden Minerals Announces Equity Financing
2010-10-06 16:25 ET - News Release
GOLDEN, CO -- (MARKET WIRE) -- 10/06/10
Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") is pleased to announce that it has filed a preliminary short form prospectus in Alberta, British Columbia and Ontario, and a preliminary prospectus supplement with the United States Securities and Exchange Commission (the "SEC") in connection with an overnight marketed public offering (the "Offering") of the Company's common stock ("Common Shares"). The preliminary prospectus supplement filing in the United States was made pursuant to an effective U.S. shelf registration statement. The Offering will be conducted through a syndicate of underwriters led by Canaccord Genuity Corp. (the "Underwriters"). The Company will also grant the Underwriters an over-allotment option to purchase up to that number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 5 days after the closing of the Offering.
The Offering will be priced in the context of the market with final terms of the Offering to be determined at the time of pricing. The Company intends to use the net proceeds of the Offering for continued exploration, underground drifting and project assessment at its El Quevar silver project in northwestern Argentina, exploration of certain properties in Mexico, Argentina and Peru and for working capital and other general corporate purposes.
The Offering is expected to close on or about October 21, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the NYSE Amex and the Toronto Stock Exchange and other securities regulatory authorities.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
Any offer or sale will be made only by means of a short form prospectus in Canada or by means of a prospectus supplement in the United States. A preliminary short form prospectus containing important information relating to the Common Shares being distributed under the Offering has been filed with the securities regulatory authorities in the Provinces of British Columbia, Alberta and Ontario, and a preliminary prospectus supplement has been filed with the SEC . The preliminary short form prospectus is still subject to completion or amendment. A copy of the preliminary prospectus supplement and the accompanying base shelf prospectus relating to the Offering is available on EDGAR at www.sec.gov and a copy of the preliminary short form prospectus relating to the Offering is available on SEDAR at www.sedar.com. When available, copies of the preliminary prospectus supplement may be obtained in the United States by contacting Canaccord Genuity Inc. at 525 Madison Av., 2nd Floor, New York, NY, USA 10022, 1-212-849-3973 1-212-849-3973 , and, when available, copies of the preliminary short form prospectus may be obtained in Canada by contacting Canaccord Genuity Corp. at 161 Bay St., Suite 3000, Toronto ON, Canada M5J 2S1, 416-869-7368 416-869-7368 . There will not be any sale or any acceptance of an offer to buy the Common Shares being distributed under the Offering until a final prospectus supplement has been filed with the SEC and a receipt for the final short form prospectus has been issued in Canada.
Golden Minerals' management will be hosting an investor call today at 5:00pm EST to discuss this financing and answer investor questions. To access the call, the following numbers can be used: North America toll-free dial in number: 1-877-353-9586 1-877-353-9586 ; International dial in number: 403-532-8075 403-532-8075 - Participant Pass Code: 13978#. A replay of the call will be available for one week at: North America toll-free dial in number: 1-877-353-9587 1-877-353-9587 ; International dial in number: 403-699-1055 403-699-1055 - Participant Pass Code: 388559#.
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 approximately 30 exploration projects, including the El Quevar project in the Salta Province of northwestern Argentina and advanced stage drilling projects in Mexico and Peru.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws, including statements regarding the anticipated offering and sale of the Common Shares, the anticipated closing date of the Offering, the over-allotment option, the anticipated use of proceeds of the Offering, the approvals of the NYSE Amex, the Toronto Stock Exchange and other securities regulatory authorities, and other statements that express management's expectations or estimates of future developments, circumstances or results. These statements are subject to risks and uncertainties, including whether the proposed Offering is successful, whether required approvals are received, disruptions in the financial markets, changes in the use of proceeds due to lack of favourable exploration results or pursuit of other exploration or other opportunities, and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC and Canadian securities regulatory authorities by Golden Minerals, including the Company's Annual Report on Form 10-K for the year ended December 31, 2009.
For additional information contact:
Golden Minerals Company
Jerry W. Danni
(303) 839-5060 (303) 839-5060
Executive Vice President
A post that encouraged me to buy the other day...
cl001 Share Friday, October 01, 2010 11:11:39 AM
Re: KevinKT post# 21246 Post # of 21384
AUMN has a lot of properties, it took Adam Graf a long time to visit them one by one. A few months ago I heard a rumor that Adam believe it was a 50 dollar stock. This morning he gave the initial target of $104 in 12 months. That's little higher than I thought, but it was very delighted to know anyway.
AUMN with only 9 million shares outstanding and much less in float, should have a huge run for the rest of this year. I am not sure it can reach triple digits, but we could be close.
Very happy as a shareholder.
Me too..lol :)..eom
I think the quote box is all screwed up. It's not the right ticker.
Price target of $104 initiated by Dahlman Rose
http://www.scribd.com/doc/38536240/DRCO-AUMN-CoNote-2010-10-01
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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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