Golden Minerals owns mine operations in Durango State, Mexico. The Velardeña Mining District, property the company acquired in September 2011, contains a significant high-grade silver and gold resource with associated base metals that remains open at depth. Velardeña achieved payable production of approximately 843,000 silver equivalent ounces during 2012 and 395,000 silver equivalent ounces in 2013 through the quarter ending June 30, 2013. (Production includes only silver and gold, with equivalents calculated using a 60:1 ratio for gold to silver.) On June 19, 2013, Velardeña’s production was suspended due to depressed precious metals prices. The property was put onto care and maintenance until such time as precious metals prices plus mining plans indicate a sustainable cash margin for operations.
Further production potential comes from the Evaluation stage El Quevar project in the Salta Province of Argentina, a 100%-controlled, 55,000-hectare silver project with District potential. In addition, Golden controls a portfolio of roughly 40 exploration properties located in or near historical mining areas in Mexico and South America.