Golden Minerals Company (TSX and NYSE American: AUMN) is a Colorado-based precious metals exploration and development company 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 Rodeo gold project in Durango State, Mexico; El Quevar, an advanced exploration silver project with district potential located in the Salta province of Argentina; the Sand Canyon gold-silver project in northwestern Nevada; and around a dozen additional projects located within the traditional silver-producing areas of Mexico.
We are transitioning from exploration company to gold producer and intend to begin producing gold at our Rodeo project in Durango State, Mexico in early 2021 (subject to timely receipt of permits). Rodeo is a highly profitable open pit project that is expected to generate (according to its April 1, 2020 Preliminary Economic Assessment) $25+ million in free cash flow that can be used in part to self-finance a startup of production at the larger silver/gold Velardeña Properties (also in Durango State, Mexico). We have leased one of our two Mexican processing mills to Hecla Mining Company since mid-2015, and this arrangement has provided cash flow that has supported our exploration activities. This oxide mill will revert back to us in November 2020 upon conclusion of the lease. We intend to use the mill to process Rodeo material beginning in early 2021, the precise timing of which is dependent upon when final permits are received. We are also accelerating work at our Velardeña Properties, where we intend to begin production in 2021-22 at first based on sales of silver-lead and zinc concentrates and once a new circuit has been constructed, using bio-oxidation technology for the processing of pyrite concentrates for gold recovery. This technology is expected to provide superior gold recovery rates that will in turn result in operations with enhanced profitability.
We are led by a team of accomplished and driven management and directors whose decades of multi-faceted experience 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 by:
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.