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Golden Minerals Company reports company developments tied to its repositioning as a mineral exploration issuer. Recent news centers on completed divestitures of Velardeña assets and Mexican subsidiaries, discontinued operations tied to former Mexico properties, and the reduction of liabilities and overhead after exiting those operations.
Golden Minerals also reports financial results, liquidity and cost-structure updates, annual meeting voting outcomes, and executive finance leadership changes. Its stated exploration priorities are the Sarita Este/Desierto project in Argentina and the Sand Canyon project in Nevada.
Golden Minerals Company (AUMN) reported a net loss of $3.3 million or $0.03 per share for Q1 2020, compared to a loss of $2.4 million in Q1 2019. Revenue from oxide plant lease was $1.2 million, down from $1.9 million a year prior, with a net operating margin of $0.6 million. Cash reserves dropped to $2.2 million from $4.6 million at the end of 2019. Positive developments include a successful Preliminary Economic Assessment for the Rodeo gold project, with an NPV of $24.4 million, and significant funding of $3.7 million post-Q1. However, exploration expenses rose to $1.6 million, reflecting increased activity.