At 3.5M Ag-eq oz next year and a $20 margin on silver (assuming silver stays landlocked at $30 that should be about $70M cash flow, or $2 per share. Then we can talk about going to 2000 tpd. And drill off another 30M ozs at El Quevar and keep grooming it.
I think at some point in the next year, AUMN is valued like a producer and not an explorer. Their 200+M ozs should be valued at $3-7 like all silver producers. That's giving no credit to the 2M oz gold or all the lead and zinc. Implying $600M to $1.4B market capitalization to be in-line with peers. Or $18-40 share price.
I wouldn't look past PAAS making another move. They have been very quiet there for several years besides the Minefinders deal. AUMN would be an ideal bolt on aquisition they could fund entirely with cash. They walked away from Orko's La Preciosa and Navidad is a long long way away from production. Velardena would be another Mexican jewel to go along with its problematic Peru mines. And increase their presence in Argentina at the same time.
I am ultrabullish AUMN in the longer term, but even a more agnostic could see this is a good $5-6 to $10-11 range trade opening up imo. Silver wants to be $40-50. $20 silver means all the available bullion will get sucked up like a vacuum cleaner and major shortages and industrial user panic so no need to harbor delusions about low gold or silver prices in the medium to long term.
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Recent AUMN News
- Form 8-K - Current report • Edgar (US Regulatory) • 10/01/2024 09:28:04 PM
- Golden Minerals Signs Definitive Agreement to Sell Its El Quevar Silver Project • Business Wire • 09/27/2024 07:02:00 PM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 09/16/2024 08:00:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/16/2024 07:36:47 PM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 09/09/2024 09:23:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 07:51:50 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/06/2024 02:56:07 PM
- Golden Minerals Announces Intent to Sell El Quevar Silver Project and Provides Corporate Update • Business Wire • 09/03/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/16/2024 09:04:46 PM
- Golden Minerals Reports Second Quarter 2024 Financial Results • Business Wire • 08/14/2024 10:45:00 AM
- Golden Minerals Announces Chief Financial Officer Retirement and Appoints New Chief Financial Officer • Business Wire • 08/05/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/02/2024 08:36:53 PM
- Golden Minerals Provides Corporate Update • Business Wire • 08/01/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/16/2024 05:01:04 PM
- Golden Minerals Announces Closing of Sale of Velardeña Mine and Associated Facilities and Delay of Closing in Sale of Velardeña Oxide Plant and Water Wells • Business Wire • 07/15/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/09/2024 08:21:21 PM
- Golden Minerals Receives Continued Listing Standard Notice From NYSE American • Business Wire • 07/09/2024 10:45:00 AM
- Golden Minerals Announces CEO Retirement and Replacement and Board Changes • Business Wire • 06/18/2024 10:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:05:50 PM
- CORRECTING and REPLACING Golden Minerals Reports First Quarter 2024 Financial Results • Business Wire • 05/14/2024 01:56:00 PM
- Golden Minerals Reports First Quarter 2024 Financial Results • Business Wire • 05/14/2024 10:45:00 AM
- Golden Minerals Announces Sale of Velardeña Assets and Unifin Settlement • Business Wire • 05/10/2024 10:45:00 AM
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