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
- 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
- Golden Minerals Announces Return of El Quevar Silver Project • Business Wire • 03/27/2024 10:45:00 AM
- Golden Minerals Reports Full Year 2023 Results • Business Wire • 03/19/2024 10:45:00 AM
- Golden Minerals Announces Passing of Director W. Durand Eppler • Business Wire • 03/05/2024 11:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 10:18:30 PM
- Golden Minerals Stops Mining Operations at its Velardeña Properties • Business Wire • 02/29/2024 11:45:00 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 01:03:10 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 07:53:16 PM
- Golden Minerals Begins Mining Operations at Velardeña Silver-Gold Properties • Business Wire • 01/23/2024 11:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/12/2023 02:26:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/07/2023 09:02:21 PM
- Golden Minerals Completes Sale of Santa Maria Gold-Silver Property • Business Wire • 12/05/2023 11:45:00 AM
- Golden Minerals Begins Producing Gold-Bearing Pyrite Concentrate at Velardeña • Business Wire • 11/21/2023 11:45:00 AM
- Golden Minerals Reports Third Quarter 2023 Financial Results • Business Wire • 11/10/2023 11:45:00 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 11/09/2023 09:32:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/09/2023 02:12:21 PM
- Golden Minerals Announces Closing of US$4.2 Million Public Offering • Business Wire • 11/08/2023 08:14:00 PM
- Form 424B4 - Prospectus [Rule 424(b)(4)] • Edgar (US Regulatory) • 11/08/2023 11:03:01 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 11/07/2023 05:15:26 AM
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