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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) has announced Julie Weedman as the incoming Chief Financial Officer, succeeding Robert Vogels, who is retiring. Weedman will start as Vice President of Finance on January 16, 2022, and transition to CFO after Vogels' retirement in late February 2022. With over 30 years of financial and accounting experience, Weedman previously served at Aerospace Contacts LLC and held various roles in finance within the mining sector. The company focuses on gold and silver production from its Rodeo Mine and advancing its properties in Mexico and Argentina.
Golden Minerals Company (AUMN) has announced promising results from its drilling programs at the Rodeo gold-silver mine in Durango, Mexico. The final assay results indicate significant high-grade mineralization, with notable intervals such as 28m at 2.0 g/t Au and 18 g/t Ag and 20m at 8.2 g/t Au and 23 g/t Ag. A total of 47 RC and 35 diamond drill holes were completed, focusing on resource expansion and near-mine exploration targets. CEO Warren Rehn expressed optimism about extending high-grade mineralization and updating resource models accordingly.
Golden Minerals Company (AUMN) reported its financial results for Q3 2021, revealing revenue of $8.5 million and a net operating margin of $4.2 million from its Rodeo gold-silver mine in Mexico. This marks a significant increase from $2.1 million revenue and $1.6 million margin in Q3 2020. The company produced 4,777 gold ounces and 12,196 silver ounces, with cash costs per gold ounce at $865.1. Golden anticipates a net operating margin of $11.0 to $12.0 million over the next 12 months and is actively exploring resource expansion opportunities.
Golden Minerals has announced positive assay results from 25 reverse circulation drill holes at its Rodeo gold-silver mine in Durango State, Mexico. The company drilled 47 holes totaling 3,187m, enhancing resource expansion and exploration. Noteworthy results include RRC_021_018 with 18m grading 2.3 g/t Au and 5 g/t Ag. Results indicate the potential for additional profitable tonnage near the current pit. CEO Warren Rehn highlighted the strong prospects for expanding known gold zones, suggesting promising future operations and enhanced profitability at current gold prices.
Golden Minerals Company reported production of 4,942 gold equivalent ounces in Q3 2021, a 38% increase from Q2 2021. This includes 4,777 gold ounces and 12,196 silver ounces from the Rodeo gold-silver mine in Mexico. The average gold grade improved to 4.0 g/t, while mill throughput rose to 532 tpd. The company confirmed its annual production guidance of 12,000-14,000 oz of gold and 25,000-30,000 oz of silver for 2021. CEO Warren Rehn expressed optimism about the mine's performance exceeding expectations.
Golden Minerals Company (AUMN) announced the completion of 20 diamond drill holes and the initiation of a reverse circulation drill program at its Rodeo gold-silver mine in Mexico. The program, conducted by Major Drilling, will involve 35 holes over 2,500 meters, aiming to expand the high-grade resource being mined. Recent assay results showed several significant gold-silver intersections, including 78.7m grading 1.06 g/t Au. CEO Warren Rehn expects to complete drilling by September and incorporate potential increases in mineral inventory into the mine plan later this year.
Golden Minerals Company (NYSE American: AUMN) announced the upcoming retirement of CFO Robert Vogels, effective late 2021. The company is currently searching for his successor. CEO Warren Rehn expressed gratitude for Vogels' nearly 40-year career in the mining industry, including 12 years with Golden Minerals. The company is focused on gold and silver production at its Rodeo Mine and advancing projects in Mexico, Argentina, and Nevada. Future leadership will aim to sustain financial operations during ongoing project developments.
Golden Minerals Company (NYSE American: AUMN) reported strong financial results for Q2 2021, achieving a net operating margin of $2.5 million on revenue of $5.9 million. Compared to Q2 2020, revenue increased from $1.2 million while net loss reduced to $0.8 million from $2.3 million. Production yielded 3,634 payable gold equivalent ounces at a cash cost of $915.1 per ounce. The company anticipates a net margin between $11.0 to $13.0 million from Rodeo operations over the next year, while maintaining a cash balance of $6.9 million.
Golden Minerals Company (AUMN) reported a strong performance for Q2 2021, achieving payable production of 3,634 gold equivalent ounces, which includes 3,452 gold ounces and 12,323 silver ounces from its Rodeo mine in Mexico. This marks a substantial 133% increase in production compared to Q1 2021. The average gold grade processed rose to 3.6 g/t Au. The company is on track to meet its production guidance of 12,000-14,000 oz gold and 25,000-30,000 oz silver for the full year.
Golden Minerals Company (AUMN) announced promising initial results from its expansion drill program at the Rodeo open pit gold mine in Mexico. The exploration program, commenced in March 2021, aims to extend the mine's life beyond the estimated 2.5 years. Early results from 606 meters of drilling include notable gold and silver grades, with hole RDO_021_009 reporting 14.65m at 3.94 g/t Au and RDO_021_003 showing 13.75m at 2.64 g/t Au. CEO Warren Rehn expressed optimism about expanding the high-grade zone, which may contribute to a longer mine lifespan.