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+10.55%
IT'S PARTY TIME OVER HERE...
ARE YOU IN ?
$AUMN
+9.27%
Told you guys...
$AUMN is catching up hard...
By January $GPL 1$ / $AUMN 1$
$AUMN Is running hard.
0.64 +5.9603%
Please an update !
STRONG
0.64 +5.9603%
Great Panther Announces Updated Mineral Reserve and Mineral Resource Estimates and Provides Exploration Update at Tucano
https://finance.yahoo.com/news/great-panther-announces-updated-mineral-123000209.html
P1
$AUMN UPDATE ?
CAN YOU CHECK AGAIN ?
PRICE HAVE MOVE UP
Jim Simons 1,104,800 shares of $AUMN
https://www.gurufocus.com/stock/AUMN/ownership
https://en.wikipedia.org/wiki/Jim_Simons_(mathematician)
Mine life at 450 tpd is estimated to be approximately 2.5 years or 10 quarters
President and Chief Executive Officer of Golden Minerals, Warren Rehn, notes, "The receipt of the environmental permits for our Rodeo mine puts us on schedule to begin mining in January 2021. We expect to begin delivering gold-bearing material to our Velardeña mill early in January and begin processing immediately.”
Golden will form a new entity (“NewCo”) that will hold the El Quevar properties. Upon earn-in by Barrick, the NewCo will be 70% owned by Barrick and 30% owned by Golden. Funding of NewCo will be split in proportion to ownership of each shareholder, and industry standard dilution mechanisms will apply in the case of funding shortfalls by either shareholder.
Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American and TSX: AUMN) today announced that on November 1, 2019, NYSE Regulation accepted the Company’s plan to regain compliance with the NYSE American continued listing standards relating to stockholders’ equity. NYSE Regulation has granted a plan period through February 19, 2021.
The listing of the Company’s common stock will continue pursuant to an extension during the plan period, during which time the Company will be subject to periodic review to determine whether it is making progress consistent with the accepted plan. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by February 19, 2021 could result in the Company’s shares of common stock being delisted from the NYSE American
KEEP PUSHING BABY !
BE READY SATURDAY AT 10AM (East Time)
I will be LIVE with MARC FABER on this Youtube channel
Warren Rehn, President and Chief Executive Officer of Golden Minerals, noted, "Yoquivo represents one piece of our longer-term strategy; namely, increasing shareholder value through continued exploration success that will build long-term company profitability. Meanwhile, we remain focused on achieving profitable near-term gold and silver production at Rodeo and Velardeña, with Rodeo slated to begin production in early 2021. We have been waiting for the right time to complete a drill program at Yoquivo to test its potential to host high-grade silver and gold mineralization, and we look forward to announcing results from this program."
https://finance.yahoo.com/news/golden-minerals-completes-drill-program-115000310.html
Court Confirms Almaden’s Original Ixtaca Claim Block
https://finance.yahoo.com/news/court-confirms-almaden-original-ixtaca-213000848.html
Link ?
Huge Drop here....
Can't read this need to be member....
https://seekingalpha.com/article/4391957-new-gold-on-track-for-earnings-breakout-next-year
Very nice !
Do you have a link about this ?
I'm making tons of $ with $AUMN.
Was wondering If I sould jump in $GPL right now ?
Bob do you think $KL is the best gold stock right now ?
Can you tell me more about this Hedge next year ?
Any Link who explain it ?
Finally I'm on the right Horse....
AUMN Exploding with Silver going down....
GAME OVER !
Golden Minerals Receives Final Environmental Permits for Rodeo Gold Project; Company on Track for January 2021 Gold Production
https://finance.yahoo.com/news/golden-minerals-receives-final-environmental-115000304.html
Golden Minerals President and Chief Executive Officer, Warren Rehn, commented,
“We are on track to begin production at our Rodeo gold mine during the first quarter 2021. We have the first of our required environmental permits in hand and expect to have the second in the next few weeks. Our cash balance is stronger than it has been in five years and we are debt free. I am confident that Golden Minerals is well along the path to sustainable profitability and growth.”
GOLDEN, Colo., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American and TSX: AUMN) today announced financial results and a business summary for the quarter ending September 30, 2020.
Third Quarter Summary Financial Results
Revenue of $2.1 million and a net operating margin (oxide plant lease revenue less lease costs) of $1.6 million related to the lease of the Company’s oxide plant to Hecla Mining Co. in the third quarter 2020, compared to a $1.4 million net operating margin realized in the third quarter 2019 (all figures presented in approximate USD)
Cash and cash equivalents balance of $8.7 million as of September 30, 2020, compared to $4.6 million on hand at year-end 2019
Exploration expenses of $1.2 million in the third quarter 2020, compared to $0.9 million in the year ago period
Zero debt after repaying related party short term debt of $1.0 million (including interest)
Net loss of $1.3 million or $0.01 per share in the third quarter 2020, compared to a net loss of $1.8 million or $0.02 per share in the third quarter 2019
Third Quarter Business Summary
Completed infill/definition drilling at the Rodeo gold project (Durango State, Mexico) in preparation for projected production in the first quarter 2021, subject to the receipt of final environmental permits which are expected before the end of 2020
Began preparations for the installation of a new regrind mill circuit at Velardeña’s oxide mill to improve recoveries and throughput of the harder mined material projected to come from Rodeo in 2021
Neared completion on a contract mining agreement and began the process of hiring key mine and plant supervisory personnel for Rodeo
Golden Minerals President and Chief Executive Officer, Warren Rehn, commented, “We are on track to begin production at our Rodeo gold mine during the first quarter 2021. We have the first of our required environmental permits in hand and expect to have the second in the next few weeks. Our cash balance is stronger than it has been in five years and we are debt free. I am confident that Golden Minerals is well along the path to sustainable profitability and growth.”
Financial Results
The Company reported revenue of $2.1 million in the third quarter 2020 related to the oxide plant lease 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 $1.6 million. Revenue and margin were higher in 2020 due primarily to an increase in throughput during the period. Golden also received approximately $8.0 million in net proceeds related to a public offering of the Company’s common shares, without warrants, in the third quarter 2020.
Exploration expenses were $1.2 million in the third quarter 2020 and include expenses related to work at the Sand Canyon, Rodeo and other properties, as well as property holding costs and their allocated administrative expenses. Expenses were higher in the third quarter 2020 compared to the $0.9 million of exploration expense in the third quarter 2019 due primarily to increased exploration activities at the Rodeo project. Velardeña care and maintenance expenses were $0.2 million in the third quarter 2020 compared to $0.4 million in the year ago period. The lower costs are primarily the result of cost reduction initiatives and the allocation of a portion of Velardeña’s personnel costs in support of the Rodeo project. El Quevar project expense was $0.1 million in the third quarter compared to $0.6 million in the year ago period. El Quevar costs are lower than the year ago period due to the reimbursement of certain costs per the terms of an Earn-In agreement signed between the Company and Barrick, and a drilling program conducted at El Quevar during 2019. Administrative expenses totaled $0.9 million in the third quarter 2020 compared to $0.7 million in the third quarter 2019. These expenses, including costs associated with being a public company, are incurred primarily by the Company’s corporate activities in support of the Velardeña Properties, the Rodeo project, the El Quevar project and the Company’s exploration portfolio. Expenses were higher in 2020 due primarily to increased legal fees and information technology upgrades. Golden reported a net loss of $1.3 million or $0.01 per share in the third quarter 2020 compared to a net loss of $1.8 million or $0.02 per share in the year ago period.
Twelve Month Financial Outlook
The Company ended the third quarter 2020 with a cash balance of $8.7 million. In addition to the Company’s current cash balance, projected cash inflows are expected to exceed budgeted cash outflows over the 12-month period ending September 30, 2021. Projected cash inflows for the 12-month period ending September 30, 2021 total approximately $11.6 million as follows (all figures are approximate):
$9.5 million in net operating margin (defined as revenues less costs of sales) from the Rodeo property from production beginning in the first quarter 2021, assuming average metals prices of $1,887/oz Au and $23.73/oz Ag;
$0.8 million in net operating margin from the Hecla oxide plant lease prior to its termination on November 30, 2020;
$0.8 million received in October 2020 from the exercise of 2.5 million Series A warrants issued in the Company’s April 2020 offering of common stock; and
$0.5 million related to the sale of the Santa Maria project to Fabled Copper (for agreement details, refer to the Company’s Form 10-Q Quarterly Report for the period ended September 30, 2020).
The Company’s currently budgeted expenditures during the 12 months ending September 30, 2021 total $8.1 million as follows (all figures are approximate):
$0.9 million on pre-production activities, capital expenditures, working capital and other start-up related activities ahead of the projected receipt of revenues from the processing of mined material from the Rodeo property in the first quarter of 2021;
$2.5 million on evaluation activities, exploration and property holding costs related to our portfolio of exploration properties located in Mexico, Nevada and Argentina, including El Quevar, Yoquivo and other properties;
$0.8 million at the Velardeña Properties for care and maintenance;
$3.2 million on general and administrative costs; and
$0.7 million related to a net increase in working capital, primarily for inventories and receivables associated with the Rodeo property following the projected start-up of the processing of mined material in our oxide plant beginning in the first quarter of 2021.
These projections are current as of the date of this news release but could be negatively impacted if further interruptions related to COVID-19 occur in Mexico. Additionally, the actual amount of cash receipts and expenditures the Company records during the 12-month period ending September 30, 2021 may vary significantly from the amounts shown above and will depend on a number of factors. For a more complete discussion of risk factors and for additional information regarding third quarter 2020 financial results, refer to the Form 10-Q Quarterly Report for the period ended September 30, 2020 which is available on the Company’s website at www.goldenminerals.com.
14M IN VOLUME ? CRAZY !