Golden Minerals

[griff100]

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.