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Golden Minerals Company
350 Indiana Street
Suite 800
Golden, CO 80401
United States
303-839-5060
WEB ADRESS
Golden Minerals (AUMN)
A Gold Producer or an Organic Jigsaw Puzzle ?
VIDEO HERE ----->
INTERVIEW
After 10 years on the sideline I'm back on this AUMN.
Slowely accumulating.
Expecting +1$ before 2021.
thanks for posting this exlains why it won't drop delow .40 in recent days.I was thinkg it waould pull back and fill the gap at .39. I havae a little dry powder so will use part of it to add. My big funds don't arrive until the end of July. Hope all is well with you. We wear a mask in some places other no. A few of our resturants are open for in house dinning. Wed is what has been date day we do shopping a movie andd dinner in a up-scale locally owned resturant. Seldom do a chain unless traveling and can't find one.
37 min Interview withe CEO Waren Rehn from today:
Thank I'm going to look up Millrock Resources, Silver Mines Ltd. and Northern Star Resources.
I am not the high risk taker I was 60 years. I actually stil have teh firrst gold stock I bought in 1964 At the time it was Madsen Red Lake Gold now it is McChip Resources and they are in oil. That crashed with the oil. I have always held it aand it paid a div. I like dividends. Thats why I hold mta, cmcl or and auy.
I picked up cmcl when it was .10 now $16-$17.
back in the late 50's early 60's I bid on federal and state oil leases in Wyoming picked up a few.
Last Oct. a group made me an offer on one with 1 priducing well which I had not been to fond of as it often had to be reworked. So I sold it. In January I was negotiating a lease on another properaty I hold in fee title on only mineral rights. not a fed or sstate lease . The oil price colapsed and that deal fell apart.
i was in real estate most of my adult life. Did some exchanges. IIn one took commission in partneship on a permanently pattened silver mine in Colorado. I have 40% one has 40% another 20%. For years its been doing a great job of holding the rest of the world together.
So I have had a fair share of experience in nataural resources My main income now is social security
and farm rents. Every few years do a timber sale. Plant trees almost every year. GGraand kids enjoy that for a little while then its time to hike or take rides in the woods and go into the river that crosses one of the farms.
Probable telling more than I should and more than you care to know.
One last item. I think the government is pushing for electric vehicals. USPO is to update new delivery trucks to electric. They say must be built in USA and may give contracts to 4 companies. I took a small possition in wkhs which is also developing delivery drones. Year ago I leaned not to over do it in these types. The army was looking for protection vehicals. There was a company Force Protection which had a few and theirs where showing to be better than those of Oskos. SO I went in big. Turns out the generals all had money in Oskosh which got the entire contract. I was even in on margin. Learned never do margin again.
SVL.ASX is Australian based Silver Mines Limited and MRO.TSX.V is Canadian based (Venture Exchange) Millrock Resources.
But I would strongly advise to research them properly and not just jump into them, because I recommended them.
See, I have been investing for over 20 years in mining stocks and lost a lot of money especially in the early years. Since then I learned a lot (the hard way) and now have a portfolio strategy in play, which I think is far superior to only investing in high risk/possibly high reward stocks.
A precious metals portfolio should IMO consist of:
1.the physical metals themselves (gold and silver)
2.Some big producers with low production cost
3.Some smaller junior producers and only then and only a small percentage of the overall portfolio in
4.Some highly speculative stocks
Going all into some small explorers is a very risky strategy and has a high probability of loosing money.
I know its tempting, because we may very well be at the beginning stages of a major bull market, with all the money printing and debt explosion going, but nevertheless, one never knows what the future will bring.
I do think that Golden Minerals is a good bet (near term producer, no debt, several project with very low Capex, even now some small cashflow)
Silver Mines Ltd has a proven resource, but of course this company is highly dependent on the price of silver.
Millrock is an explorer and while I think one of the better ones out there, because I am a longterm Northern Star Resources (ASX:NST) investor, so I do know about the Pogo property and I think success over there for Millrock has a nice risk/reward ratio, but failure is still a possibility.
So only invest money you are prepared to loose, believe me I lost plenty in my career as a mining investor and most of the money I made were only these last years, when I had gained a lot experience over time.
I am from Germany, since I just registered with ADVFN yesterday I think I can only post 3 times a day, so this will probably be my last post for today.
yes I have Canadians with US exchanges. I use to have some Assuies too.
What are the names of these companies. The one in Alsaka should have a US or canadian exchange
Looks like AUMN is correcting as are the metals. I thik oil is about to drop too.
I have cousins in Ireland and Denmark where abouts in Europe are you. I am in Iowa 25 miles from the Mississippi river.
I don't know, I am European based and have an account with Interactive Brokers. There its no problem to trade ASX,TSX or NYSE. But anyway even if any of these companies do have a dual stock listing, I would strongly recommend not to trade them on a stock exchange which is very illiquid. I guess all these junior mining companies are only really traceable on their home exchanges.
Many of the juniors do have a dual listing in Germany, but I would never consider buying them there, much better to trade them at the home exchanges.
But I am sure as an American you should be able to trade Canadian (TSX and TSX.V) stocks with YOUR ACCOUNT ?
do any of those trade on a US stock exchange My Schwab account can't find them?
I have SVL.ASX which is one of very few silver plays on the ASX. They are sitting on one of the largest silver resources in the Asian Pacific region. Not really viable at current prices, but if silver continues to go up they have an already proven resource with an economic study finished. IMO a likely takeover candidate by one of the major silver miners.
Another interesting story is an exploration story developing in Alaska, which you can participate in via ASX old TSX.
Northern Star, 11 biggest goldmine in the world bought the Pogo mine 2-3 years ago and had some really good exploration drilling with good grades.
Now the NST tenements are completely surrounded by TSX.MROs claim. MRO outsourced the drilling in 20 Mio. deal to ASX.RML.
First round is to drill 6 holes, first found some gold, but very low grade so not exactly a hit, due to the Corona shutdown they stopped, but just 2 days ago drilling continued. This is a story to watch over the coming weeks and months IMO.
yes, are in Austrila?
which ausy PM do you follow?
many years ago I was in Asuy oil Santos was a hge winner
IMO with all the central banks printing like there is no tomorrow, PM mining stocks and especially silver miners are probably the high flyers in the coming months years. Most of my other investments are in Australia, which have also seen some handsome gains recently, but I think we are just at the beginning.
I think we will see a new ATH in gold soon and silver will follow. Miners are the place to be.
several years ago before PM's crashed this was a $28 stock. They weathered the drop by leasing out a smelter or other equipment. Recently sold a property and using fundds to start back up these mones.
My goal was to get 50,00 shares but doesn't look very likely now. I am wating for some property to clsoe
which will yeild funds for pm's. In time when gold gets near 3,000 and silver 65-70 this stock could be
near 100 jmo I do have good ##'s in cmcl and mta which pay nice divs.
Very happy too, I just invested about 10 days ago because I wanted an undervalued silver play, didn't expect this one to surge higher so quickly
last week there was news on the Mexican open pit a sedar reprt, caused a little activity but this is unreal.
Glad I grabbed some more share at .33 and .34.
I have no idea, maybe drilling results on their US-property are in ??? Cant find any official news. But since most other silver stocks are just trading sideways some positive news is probably published shortly...
what is happening we gapped and vol has exploded over 1 million in 15 min.aavg is only 957,000 per day
I agree. the 1st leg up of this new PM bull will be the 1900's then a pull back to begin the 2nd leg up over 2500 eventually it can be 3000 or maybe even 5,000 gold 125-175 silver jmo. I'm looking 5 yrs out. But a war could chnage everyting. Oil's recent move could be fortelling a war. China or Iran? Maybe not an allout shooting war but a trade war.
The price of silver is very relevant. Let's say Gold goes to 1900$ (+) and Silver to 50$ - we can reach old highs, as with inflation, the old highs would make new highs of about 30$, but with some dilution we had in the meantime, we might make 25$ or so per share. But: Who says that Gold stops at 1900? Silver at 50? I guess there is so much more room!
nov. 29, 2010 it was 28.90
what is you guess as to asp if gold hits 1900 tia
0.32 per-market. Not bad. If silver continues to push, we might finally break the 18.50-barrier in silver, this might bring AUMN once and for all to take the 0.4 hurdle we have been scratching on for several months now. I guess this year could be stellar for silver and gold, so AUMN in multi-dollarland might soon be the new normal.
This might be the time AUMN finally gets over the 0.3 to 0.4 range, as I strongly believe silver will break out this time thanks to the massive money printing going on. Once that level is taken, I see a fast explosion towards 1.2$.
Rock on
Only my personal opinion and always DYODD.
Good insider buying, good funding for the Rodeo property, this one itself is enough to finance the VelardeNa operation. Let's assume gold and silver do well within the next months. I see AUMN as a very easy buy here.
Yes, looking good here. Insider buys from CEO & CFO this last week as well as positive results from their gold and silver mining project in Mexico.
$$AUMN$$
Yep Came up on my Scanner Monday
Big board has this mix up with another stock!
something must be up besides the price of gold. We have aa gap at .29 which should fill and would be a great buy. jmo
News: $AUMN Golden Minerals Sells Two Mexican Properties to Industrias Peñoles
GOLDEN, Colo., Dec. 20, 2019 (GLOBE NEWSWIRE) -- Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) announced today that it has received $3.0M for the sale of two non-strategic Mexican exploration pr...
Got this from AUMN - Golden Minerals Sells Two Mexican Properties to Industrias Peñoles
Golden Minerals Reports Third Quarter 2019 Results
Source: GlobeNewswire Inc.
Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American and TSX: AUMN) has released financial results for the quarter ending September 30, 2019.
Third Quarter Summary Financial Results
Revenue of (US) $1.9 million and a net operating margin of $1.3 million related to the lease of the Company’s oxide plant in Mexico to Hecla Mining Co.
Cash and cash equivalents balance of $2.9 million as of September 30, 2019 compared to $3.3 million at year-end 2018.
Exploration expenses of $0.9 million in the third quarter 2019 compared to $1.1 million in the year ago period.
El Quevar project expenses of $0.6 million in the current quarter compared to $0.4 million in the year ago period.
Net loss of $1.8 million or $0.02 per share in the third quarter 2019, compared to net income of $1.6 million or $0.02 per share in the third quarter 2018.
Financial Results
In the third quarter 2019, Golden Minerals reported (all figures approximate) revenue of $1.9 million related to its lease of Velardeña’s oxide mill and costs of approximately $0.6 million related to the services Golden provides under the terms of the lease, for a net operating margin of $1.3 million. Exploration expenses were $0.9 million in the third quarter, reflecting work at Sand Canyon (Nevada), Yoquivo, Santa Maria and other properties primarily in Mexico, as well as property holding costs and allocated administrative expenses. El Quevar project expenses were $0.6 million in the third quarter and include costs associated with the 2019 drilling program as well as project evaluation and property holding costs. Velardeña care and maintenance costs were $0.4 million during the third quarter. Administrative expenses were $0.7 million in the third quarter 2019 and include costs associated with being a public company and are incurred primarily by the Company’s corporate activities in support of the Company’s portfolio of properties. Golden reported a net loss of $1.8 million or $0.02 per share in the third quarter 2019 compared to net income of $1.6 million or $0.02 per share in the year ago period.
On June 26, 2019, the Company announced its intent to sell certain Mexican assets to Compañía Minera Autlán S.A.B. de C.V (“Autlan”). In connection with the intended transaction, Golden reported the operational results of Velardeña and related subsidiaries in its second quarter 2019 financial statements as discontinued operations and assets held for sale. Due to the ultimate termination of the agreement in September, the Company is no longer reporting the Velardeña Properties and related subsidiaries as discontinued operations and assets held for sale.
Subsequent Event
On October 16, 2019, the Company entered into an agreement to sell the Company’s option to earn a 100% interest in the Santa Maria and Las Marias exploration properties to Magellan Gold Corporation. The agreement provides for a period of up to 150 days for Magellan to complete due diligence and secure financing for the project. If Magellan exercises its option, it will make a cash payment of $1.0 million to Golden Minerals upon closing. Golden Minerals will retain a 6.5% NSR royalty from all production at Santa Maria until a total of $3.0 million has been paid to the Company. Thereafter, Golden will retain a 3.0% NSR royalty for the balance of the mine’s life. The Company had previously expensed all costs associated with the two properties and will record income from the agreement as cash is received.
Twelve Month Financial Outlook
Golden Minerals ended the third quarter 2019 with a cash balance of $2.9 million. In October 2019, the Company entered into an option to purchase agreement for the sale of its interest in the Santa Maria property and expects to receive an initial cash payment from Magellan of $1.0 million by the end of the first quarter 2020. In addition, the Company expects to receive approximately $4.8 million in net operating margin from the lease of its oxide plant through the end of the third quarter 2020. The Company’s currently budgeted expenditures for the 12-month period ending September 30, 2020 are as follows:
Approximately $2.5 million on exploration activities and property holding costs related to the Company’s portfolio of exploration properties located in Mexico, Nevada and Argentina, including project assessment and evaluation costs relating to Yoquivo, Sand Canyon and other properties;
Approximately $1.6 million at the Velardeña properties for care and maintenance;
Approximately $1.5 million for repayment of the deposit associated with the Autlán transaction;
Approximately $0.8 million at the El Quevar project to fund ongoing exploration and evaluation activities, care and maintenance and property holding costs;
Approximately $3.1 million on general and administrative costs; and
Approximately $0.3 million for income tax payments due in Canada.
The Company’s currently budgeted expenditures are slightly greater than its resources noted above. Therefore, during the next 12 months ending September 30, 2020, the Company will take appropriate actions which may include sales of certain of the Company’s exploration assets, reductions to the Company’s currently budgeted level of spending, and/or raising additional equity capital through sales under the company’s ATM Program, the LPC Program or otherwise.
Additional information regarding third quarter 2019 financial results may 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 Delaware corporation based in Golden, Colorado. The Company is primarily focused on advancing its Velardeña Properties in Mexico and its El Quevar silver property in Argentina, as well as acquiring and advancing mining properties in Mexico and Nevada.
Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
(US Dollars, unaudited)
September 30, December 31,
2019 2018
(in thousands, except share data)
Assets
Current assets
Cash and cash equivalents $ 2,892 $ 3,293
Short-term investments — 330
Lease receivables 460 481
Inventories, net 227 229
Value added tax receivable, net 11 14
Prepaid expenses and other assets 374 619
Total current assets 3,964 4,966
Property, plant and equipment, net 6,304 7,109
Other long term assets 965 569
Total assets $ 11,233 $ 12,644
Liabilities and Equity
Current liabilities
Accounts payable and other accrued liabilities $ 1,665 $ 1,969
Deferred revenue, current 293 293
Other current liabilities 1,649 12
Total current liabilities 3,607 2,274
Asset retirement and reclamation liabilities 2,782 2,683
Deferred revenue, non-current 88 307
Other long term liabilities 384 10
Total liabilities 6,861 5,274
Commitments and contingencies
Equity
Common stock, $.01 par value, 200,000,000 shares authorized; 106,734,279 and 95,620,796 shares issued and outstanding respectively 1,067 955
Additional paid in capital 521,268 517,806
Accumulated deficit (517,963 ) (511,391 )
Shareholders' equity 4,372 7,370
Total liabilities and equity $ 11,233 $ 12,644
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars, unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2019 2018 2019 2018
(in thousands except per share data) (in thousands, except per share data)
Revenue:
Oxide plant lease $ 1,944 $ 1,900 $ 5,852 $ 5,267
Total revenue 1,944 1,900 5,852 5,267
Costs and expenses:
Oxide plant lease costs (594 ) (657 ) (1,804 ) (1,685 )
Exploration expense (935 ) (1,077 ) (3,119 ) (3,017 )
El Quevar project expense (582 ) (364 ) (1,584 ) (917 )
Velardeña shutdown and care and maintenance costs (422 ) (428 ) (1,391 ) (1,409 )
Administrative expense (742 ) (673 ) (2,784 ) (2,556 )
Stock based compensation (72 ) 139 (725 ) (111 )
Reclamation expense (57 ) (53 ) (171 ) (156 )
Other operating income, net 45 3,188 225 4,638
Depreciation and amortization (270 ) (337 ) (814 ) (897 )
Total costs and expenses (3,629 ) (262 ) (12,167 ) (6,110 )
Income (loss) from operations (1,685 ) 1,638 (6,315 ) (843 )
Other income and (expense):
Interest and other income (expense), net (42 ) (59 ) (182 ) 54
Gain (loss) on foreign currency (24 ) 7 (63 ) (46 )
Total other income (loss) (66 ) (52 ) (245 ) 8
Income (loss) from operations before income taxes (1,751 ) 1,586 (6,560 ) (835 )
Income taxes (9 ) (1 ) (9 ) (4 )
Net income (loss) $ (1,760 ) $ 1,585 $ (6,569 ) $ (839 )
Net income (loss) per common share — basic
Income (loss) $ (0.02 ) $ 0.02 $ (0.07 ) $ (0.01 )
Net income (loss) per common share — diluted
Income (loss) (0.02 ) 0.02 (0.07 ) (0.01 )
Weighted average Common Stock outstanding - basic 104,764,260 95,271,194 99,263,135 93,572,608
Weighted average Common Stock outstanding - diluted (1) 104,764,260 99,461,233 99,263,135 93,572,608
(1) Potentially dilutive shares have not been included because to do so would be anti-dilutive.
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 relating to future drilling programs at El Quevar and productivity projections from the El Quevar project; future drilling plans and exploration activities at Sand Canyon, Yoquivo and other properties; financial projections, including budgeted expenditures and the anticipated net operating margin from the Velardeña oxide plant lease; the election of Magellan to terminate the Santa Maria agreement without payment of the initial cash payment of $1.0 million; potential sales of certain of the Company’s exploration assets; projected cash balances and anticipated spending during the 12 months ended September 30, 2020; and assumptions regarding raising additional equity capital through sales under the Company’s ATM or LPC programs or otherwise. These statements are subject to risks and uncertainties, including changes in interpretations of geological, geostatistical, metallurgical, mining or processing information and interpretations of the information resulting from future exploration, analysis or mining and processing experience, new information from exploration or analysis; unexpected variations in mineral grades, types and metallurgy, fluctuations in silver and gold metal prices; failure of mined material or veins mined to meet expectations; lower than anticipated revenue from the oxide plant lease as a result of delays or problems at the third party’s mine or the oxide plant or earlier than expected termination of the oxide plant lease; increases in costs and declines in general economic conditions; and changes in political conditions, in tax, royalty, environmental and other laws in Mexico and Argentina, and financial market conditions. 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 Securities and Exchange Commission by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019 and September 30, 2019.
For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
Investor.relations@goldenminerals.com
SOURCE: Golden Minerals Company
Primary Logo
AUMN $$$$$$
back to .30 Isn't that the number where they sold shares to get capital to open?
They must be getting ready for production. Remember years ago this was I thnk $14
I bought a bounch in the low .20's
Me too
GLTU ! GLTA !
AUMN $$$$$$
New position @ the open.
2700 shares @.21
**GREAT DRILL RESULTS** -> The already resource rich El Quevar zone has just seen an upgrade: A new silver zone has been discovered. BIG!
http://www.globenewswire.com/news-release/2019/09/12/1914623/0/en/Golden-Minerals-Finds-New-Silver-Zone-and-Reports-Drill-Results-From-El-Quevar-2019-Drill-Campaign.html
I now expect the gap to close and get a lot over 30 cents today. If the ECB meeting is favorable, I expect Silver to get to 20$ very soon - Fed meeting next week - lower rates - higher metals... AUMN might be well over 1-2$ this year.
if I am remembering they are i the process of selling a property to get $$'s to open a mine in 2020, They also did a private palcement taht is why the gap down in the .30 range. Looks range bound between .23 and .25 Would need a lot of shares to do the scalp IMO
News: $AUMN Captivating Stock- Golden Minerals Company (NYSE:AUMN)
Golden Minerals Company (NYSE:AUMN) reached at $0.23 price level during last trade its distance from 20 days simple moving average was -4.78%, and ...
Read the whole news Captivating Stock- Golden Minerals Company (NYSE:AUMN)
I owned this years ago on a run to $20. About 6 months ago bought some back in anticipation of a metals bull starting. Did not do much DD but seems they have not made much progress over the years. Anyone want to give me brief synopses of the catalysts going forward?
let them short for now. It gives us better buying ops. They will also force the price up as they scramble to rebuy when the mine opens. That can send this baby way up. Shorts are betting on another sale to raise working capital, but we have all we need, plus there is a sale of the properety.
Short volume yesterday was 62% of the total volume. Price keeps being suppressed by the shorts. http://shortvolumes.com/?t=AUMN If the metals continue with their uptrend, we will finally break free.
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