Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I will buy in here soon !
AUMN $$$$
Golden Minerals Reports First Quarter 2022 Results
Source: Business Wire
Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) today provided financial results and a business summary for the quarter ending March 31, 2022.
First Quarter Financial Results – Highlights
(All currency expressed in approximate USD)
Revenue of $7.5 million yielding a net operating margin of $3.2 million in the first quarter 2022, vs. $1.8 million revenue and a net operating margin of $0.2 million in the first quarter 2021, both from mining operations at the Company’s Rodeo gold-silver mine in Mexico.
$11.7 million cash and cash equivalents balance as of March 31, 2022, compared to $12.2 million as of December 31, 2021.
Net loss of $0.00 per share or $0.3 million in the first quarter 2022, compared to a net loss of $0.02 per share or $3.2 million in the first quarter 2021.
First Quarter Business Summary
Produced 3,608 payable gold ounces and 13,944 payable silver ounces (3,787 gold equivalent (“AuEq”) ounces) with total cash costs, net of silver by-product credits, per payable ounce of gold of $1,164.1
Sold 4,040 AuEq oz. in doré, at average prices (before selling and refining costs) of $1,888/oz Au and $24.24/oz Ag. Doré inventory at March 31, 2022 consists of 375 payable oz. Au and 1,379 payable oz. Ag.
Reported grades processed of 3.1 grams per tonne (“g/t”) gold and 11.6 g/t silver during the quarter.
Processed at an average rate of 527 tonnes per day (“tpd”) during the quarter.
Continued limited scale test mining activities at Velardeña for use in final optimization of a bio-oxidation plant design and for use in additional flotation separation studies; also testing mining methods to determine whether the Company is able to control mining dilution. Results are expected in the next few months, after which time the Company anticipates making a decision on constructing the BIOX plant and restarting the operation.
1 Gold equivalents are based on actual gold and silver prices realized during the first quarter 2022: $1,888/oz Au and $24.24/oz Ag.
Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “Rodeo continues to operate according to plan providing cash flow for our exploration and development projects at Yoquivo, Sarita Este, and of course, Velardeña. We are on track to recommend a start-up plan for Velardeña within the next few months. I am very pleased with our progress establishing Golden Minerals as a sustainable gold and silver producer.”
Quarterly Conference Call and Webcast
Management will be hosting a conference call and webcast on Wednesday, May 11, 2022 at 11:00 a.m. Eastern Daylight Time (“EDT”) to discuss first quarter 2022 financial results and recent project updates. You are invited to join the webcast at Golden Minerals Q1 2022 Earnings Call. Please plan to join 10 minutes prior to the start time.
The webcast will also be available for replay on the Golden Minerals website at http://www.goldenminerals.com after May 11, 2022.
First Quarter 2022 Financial Results
The Company reported revenue of $7.5 million from doré sales, $4.3 million costs of metals sold and $3.2 million in net operating margin in the first quarter 2022, all related to gold-silver production at the Rodeo mine. Exploration expenditures were $1.7 million during the quarter and included a 2,500-meter RC drill program at Rodeo that finished delineating the mineralized area on the south side of the current pit, as well as other general exploration and holding costs related to the Company’s portfolio of exploration projects. Velardeña care and maintenance expenses were $0.5 million in the quarter and include costs related to test mining in advance of a production decision. El Quevar project expense was $0.1 million and includes costs of exploration and evaluation activities, care and maintenance, and property holding costs, net of reimbursements from Barrick Gold under the terms of an Earn-In Agreement. Administrative expenses totaled $1.3 million and include costs associated with being a public company that are incurred primarily by the Company’s corporate activities in support of the Rodeo Property, the Velardeña Properties, the Yoquivo project and the balance of the Company’s exploration portfolio. The Company recorded a net loss of $0.3 million or $0.00 per share.
Twelve Month Financial Outlook
The Company ended the first quarter 2022 with a cash balance of $11.7 million and anticipates receiving approximately $7.0 to $9.0 million in net operating margin (defined as revenue from the sale of metals less costs of metals sold) from the Rodeo operation during the 12 months ending March 31, 2023, assuming average gold and silver prices during that period of $1,800 and $25.00 oz, respectively. The Company is also scheduled to receive the final installment of $2.0 million due from Fabled Silver Gold Corp. in December 2022 under the terms of an agreement for the sale of the Company’s Santa Maria project.
The Company’s currently forecasted expenditures during the 12 months ending March 31, 2023, apart from Rodeo costs of metals sold which are included in the net operating margin forecast, total approximately $10.0 million as follows:
$4.3 million on exploration activities and property holding costs associated with the Company’s portfolio of exploration properties located in Mexico, Argentina and Nevada, including project assessment and evaluation costs relating to additional exploration at Rodeo, Yoquivo and other properties;
$1.1 million at the Velardeña Properties for care and maintenance;
$0.4 million at the El Quevar project to fund care and maintenance and property holding costs, net of reimbursement from Barrick;
$3.7 million in general and administrative costs; and
$0.5 million due to an increase in working capital.
Additional information regarding first quarter 2022 financial results can be found in the Company’s 10-Q Quarterly Report which is available on the Golden Minerals website at www.goldenminerals.com.
About Golden Minerals
Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardeña Properties in Mexico and, through partner funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.
Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
(US Dollars, unaudited)
December 31,
March 31,
2021
2022
(Restated)
(in thousands, except share data)
Assets
Current assets
Cash and cash equivalents $
11,730
$
12,229
Short-term investments
91
67
Inventories, net
1,963
1,608
Value added tax receivable, net
1,475
1,290
Prepaid expenses and other assets
1,122
1,145
Total current assets
16,381
16,339
Property, plant and equipment, net
6,563
6,627
Other long-term assets
693
747
Total assets $
23,637
$
23,713
Liabilities and Equity
Current liabilities
Accounts payable and other accrued liabilities $
4,337
$
3,509
Deferred revenue
1,094
1,469
Other current liabilities
625
721
Total current liabilities
6,056
5,699
Asset retirement and reclamation liabilities
3,639
3,569
Other long-term liabilities
246
353
Total liabilities
9,941
9,621
Commitments and contingencies
Equity
Common stock, $.01 par value, 350,000,000 shares authorized; 163,927,992 and 162,804,612 shares issued and outstanding respectively
1,639
1,628
Additional paid in capital
540,427
540,518
Accumulated deficit
(528,370
)
(528,054
)
Shareholders' equity
13,696
14,092
Total liabilities and equity $
23,637
$
23,713
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars, unaudited)
Quarter Ended March 31,
2022
2021
(in thousands, except per share data)
Revenue:
Sale of metals $
7,506
$
1,778
Total revenue
7,506
1,778
Costs and expenses:
Cost of metals sold (exclusive of depreciation shown below)
(4,322
)
(1,536
)
Exploration expense
(1,666
)
(781
)
El Quevar project expense
(117
)
(106
)
Velardeña care and maintenance costs
(536
)
(199
)
Administrative expense
(1,272
)
(1,548
)
Stock based compensation
(150
)
(429
)
Reclamation expense
(69
)
(66
)
Other operating income (expense), net
388
199
Depreciation and amortization
(65
)
(155
)
Total costs and expenses
(7,809
)
(4,621
)
Loss from operations
(303
)
(2,843
)
Other income (expense):
Interest and other expense, net
(3
)
(360
)
Other income
25
52
Gain (loss) on foreign currency transactions
50
(79
)
Total other income (loss)
72
(387
)
Loss from operations before income taxes
(231
)
(3,230
)
Income taxes
(85
)
52
Net Loss $
(316
)
$
(3,178
)
Net income (loss) per common share — basic
Loss $
(0.00
)
$
(0.02
)
Weighted average Common Stock outstanding — basic (1)
162,511,278
160,442,137
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding the results of limited scale test mining activities at Velardeña; the decision to construct the BIOX plant and restart the Velardeña operation; anticipated net operating margin from the Rodeo operation during the 12 months ending March 31, 2023; the receipt of expected final installment due to Golden Minerals from Fabled Silver Gold Corp.; and forecasted expenditures during the 12 months ending March 31, 2023. These statements are subject to risks and uncertainties, including the overall impact of the COVID-19 pandemic, including the potential future re-suspension of non-essential activities in Mexico, including mining; lower than anticipated revenue or higher than anticipated costs at the Rodeo mine, and mine testing activities at Velardeña; declines in general economic conditions; changes in political conditions, in tax, royalty, environmental and other laws in the United States, Mexico or Argentina and other market conditions; and fluctuations in silver and gold prices. 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 by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
For additional information please visit http://www.goldenminerals.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220510005543/en/
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
H.C. Wainwright Thinks Golden Minerals Co’s Stock is Going to Recover
Source: TipRanks
H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Golden Minerals Co (AUMN – Research Report) today and set a price target of $1.00. The company's shares closed last Wednesday at $0.37, close to its 52-week low of $0.31. According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -9.1% and a 27.7% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and Americas Gold and Silver. Currently, the analyst consensus on Golden Minerals Co is a Moderate Buy with an average price target of $1.00.
https://www.tipranks.com/news/blurbs/h-c-wainwright-thinks-golden-minerals-cos-stock-is-going-to-recover?utm_source=advfn.com&utm_medium=referral
Yes 5 $ would be nice also
AUMN $$$$
DId you see the earnings they posted IMO by 4th 1/4 this will have positive earning and that .99 expected sp by year end will get blown away.
IMO by the end of 2024 if gold is anywhere near $3,000 this could be $20
its running now gllad I got what I did Have cash on the way seems to take 6-7 days to get to Schwab USPO is very slow. 3 weeks ago I sent an over night exprss letter to Philly form here in IA wwithe a return receipt request form Still haven't received the rececipt form.
We had a nice run but there was a gap at .45 which has filed. I have begun adding again at .45 & .455.
this will break .50 when gold gets back over yeasterdays high.
Looks like Gold/silver are about to break out of the handle. jmo
all most all my PM's down today so its a buy day
I got all my under the market orders filled.
I am loading for the future glad to get this into Roths.
When they get the second mine opened this will fly.
Disappointingstock price actions here. Drops on gold futures but didn't rally on recovery. Typical Amex dynamics here. Ugh..
picked up a few more shares and have several under the market open order gtc.
Gold up over 20 plus dollars from the sell off. Forward guidance up. Going up soon here IMO..
I use Schwab but use Yahoo to check on stocks and their history etc. Yahoo jas them as both nyse and otc, but if I trade a otc stock on Schwab I pay 6.95 others are free and they don't charge for AUMN
I have stock charts .com for looking up charts and use an 8/21 and 50 200. the 8-21 gives a faster turn notice.
TD Ameritrade has it as Amex. You might be right but that's what they designate it at.
I think it is trading on the NYSE also if not Schwab would be charging me commision and they aren't
yet Insee quotes in digits I didn't thik NYSE did that.
Ran out of free posts yesterday. Not that I'm aware of. Just don't like Amex market dynamics based on my experience with the market.
IS the NYSE forcing them to move?
Yeah ran trend lines and looking at possibly 36s. Either way they've pre announced increasedearnings and forward guidance. The biggest issues are being listed on Amex. Crap market IMO.
I'm now watching for it to drop under .37 for my next buy
Hear ya. Holding and adding.
gold is not reacating to inflation just yet. The chart shows it should go lower.
I have an open order in for auy as it has a gap at 4.01 which should fill.
I Don't expect gold to make a big move until latter this year needs to clear 19250 jmo
Surprised gold is down given inflation and geo political. Orders in below cost average here.
added some more this AM
Yes added and have additional standing orders if she continues to dip.
did you cautch this buying op? I jumped in with what little dry power I had my funds I sent to Schwab B4 MLK day still aren't there. What is nice this trade on an exchaneg which I don't get charged a commision. Can't remember if it still nyse or Amx
I'v been in a long time have some way down at ,23 but some much higher my average now is .57 but I am over 100,000 shares and looking to add much more. By the end of the year they could go profitable, but if they open a new mine that will raaise cost so won't see immediate profits. Over hte next few years it will be very profitable. Lots of mutal funds own it. 33% held by institution 44 of them yet only .91% are held by insiders. I suspect we will see that rise.
Pulled up the extended yearly chart. Yes over 20 big bones. For whatever reason I also didn't get or see their press release on the 19th. Looking very bullish here for a long sustained rise. Glad I'm in at 37s.
Now we're talking. Plan on adding gap downs and dips at support. Long term play for me.
when gold goes over $3000 and if these guys get the other mine opend it will be aover $10.
If I remeber back in the 90's it was over $20
I'll add if we dip there. Gold 5 year monthly indicates a very strong upside break out coming. We got a good miner play here. It'll take out it's yearly high.
yes they look good but will they be enough to get tis to posst a positive earnings vs a loss. They are still in the beginning stage with the mine. They need to get a few good 1/4's
Mean whld that big run up should see a pull back for a great buying op. maybe to .37 As price of gold/silver retreat back down again. Good trading time.
$$$AUMN$$$ Moving higher, BUY, BUY, BUY!!!
Stellar earnings report. Got a monster miner here.
Note: If you spend all the money you make and then some, you may be a Democrat!
Current Management have just been Blacklisted due to their poor choices!
https://www.otcmarkets.com/filing/conv_pdf?id=15326432&guid=iOIwkqJkJZZ1dth
Let me know when they are BK.
What is up with this ticker? Is that for real?
$ AUMN. Has no volume now so the PP's are down also. It always takes Volume to move the PP's up so it would be a good time for some really good news to move on North IMO. GO > $ AUMN
$ AUMN. I think everything will be just fine and don't look for any changes to speak of except moving toward the $1.00 IMO. My Naptime you guys have a good weekend. GO > $ AUMN
thxs Jerry thats How I look at it
and its just starting what do you think about Barrack getting
involved with them??
GO AUMN$$
$ AUMN. I have been in it and not going anywhere it's holding good and that is what I look for myself. GO > $ AUMN
only first quarter after production for earnings wait until
the second
AUMN$$
$ AUMN. The quarterly earnings are out and AUMN keeps moving North and looking good IMO. GO > $ AUMN
https://www.otcmarkets.com/filing/html?id=14930265&guid=K2JnUF7exZBATth
yes saw that on target if as gold heads north so will this!!!
aumn$$
good report out this AM
Good way to play the precious metals market
AUMN$
$ AUMN. Gold and Silver are both up today and that is probably why AUMN is getting a spike up. Here it shows it on Market Watch. GO > $ AUMN
https://www.marketwatch.com/
thanks lots of smaall orders do you know what thise terms basket idx and burst bassket mean.
Where did you get that report
I can't find any news anyplace I look which is yahoo and chat rooms
Looking at all my PM's they are all p a couple even more % than this. Must be evryone is expecting the drop in metals to have ended.
Followers
|
71
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
1374
|
Created
|
05/18/06
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |