Golden Minerals Company (TSX and NYSE American: AUMN) is a Colorado-based precious metals junior gold-silver producer with a pipeline of exploration projects that offers investors leverage to silver and gold prices.
We seek to establish Golden Minerals Company as a premier mid-tier precious metals mining company, with efforts focused on properties in Mexico, Argentina and Nevada (USA). We own or control a portfolio of precious metals projects -- including the Velardeña Properties and the Rodeo gold open pit mine in Durango State, Mexico; El Quevar, an advanced exploration silver project with district potential located in the Salta province of Argentina; the Yoquivo silver-gold district-scale project in Chihuahua, Mexico; the Sarita Este gold-copper prospect in Salta, Argentina; and additional projects located within the traditional silver-producing areas of Mexico.
In January 2021, we transitioned from exploration company to gold-silver producer with the commencement of production at our Rodeo mine in Durango State, Mexico. Through June 2023, Rodeo generated over $55M in revenue and $18M in net operating margin, with total capital costs of less than $2M. We concluded mining operations at Rodeo in June 2023 and are now processing its stockpiled material.
We are presently undertaking work in support of restarting production at the Velardeña Properties' underground silver-gold mines (Durango State, Mexico). Velardeña last operated in late 2015, at which point a combination of lower metals prices, metallurgical challenges and mining dilution led to unprofitable operations and Velardeña was put onto care and maintenance. Since that time, Velardeña's oxide processing mill was first leased to Hecla Mining for five years and subsequently used to process material from our Rodeo gold mine. As of August 2023, preparations to restart operations at Velardeña are progressing on schedule - including arrangements with union staff, contract miners, plant operators, and support personnel. Our ability to restart production is dependent on our ability to raise sufficient capital in the near-term.
We are led by a team of accomplished and driven management and directors whose decades of multi-faceted experience -- encompassing areas including mining exploration, development, operations and accounting -- combine to provide strong strategic direction for the company. Our team is united in working toward realizing Golden’s vision.
We seek to execute our vision through our plans for:
SAFETY – We value the safety of all our team members, and we provide them with training and support to mitigate risks that are inherent to the industry.
TRANSPARENCY – We seek to be open and accountable to all our stakeholders, and to provide clear communications about our operations, policies and programs.
INTEGRITY – We behave ethically and honestly, and we respect the laws and customs of the areas in which we operate.
ENVIRONMENTAL STEWARDSHIP – We develop strong and mutually beneficial relationships with the communities in which we conduct business, and we take steps to both minimize our impact on the environment and maximize restoration of local ecosystems.
INCLUSION – We foster an environment of inclusion where all are welcome and encouraged to collaborate in order to achieve company goals.