Golden Minerals Company is a Colorado-based precious metals exploration and development company, focused primarily on projects in Mexico, Argentina and Nevada (USA), that offers investors leverage to silver and gold prices. We are revenue-generating through the lease of one of our mills to Hecla Mining Company.

Why Invest in Golden Minerals Company?


  • ~$4-5M operating margin from oxide mill lease in Mexico (2016-2019); approximately $3M expected in 2020


  • M&I resources:  82M oz AgEq1  
  • Inferred resources:  49M oz AgEq


  • Velardeña PEA $85.9M NPV (2020)1
  • El Quevar PEA $44.9M NPV (2018)2 
  • Rodeo PEA $22.5M NPV (2020) 1
  • Santa Maria PEA  $10.6M NPV (2018)3
  • Velardeña mine & 300 tpd sulfide plant on stand-by
  • $164M total PEA values vs. $65M market cap (Aug 4 2020) - with all PEAs assuming prices below current levels


$3.6M (as of 6/30/2020) ; +$7.9M (net) from July 2020 equity offering


Argentina:  El Quevar
Mexico:  Velardeña, Rodeo, Yoquivo, Santa Maria, Flechas
USA:  Sand Canyon (Nevada)


Experienced management and directors; strong technical staff

1   Silver equivalents calculated using Ag:Au ratios of 74:1 (Santa Maria), 80.6:1 (Velardeña) and 113:1 (Rodeo).

 Amec Foster Wheeler E&C Services Inc., 9/4/2018. NPV @5% discount rate and $16.66/oz Ag. Resources per 2/26/18 NI 43-101 Report.

Tetra Tech, 9/14/2018. NPV calculated using 5% discount rate.


Capital Structure

Capital Structure as of September 12, 2020

Shares Issued & Outstanding  149M
    Warrant Shares  26M
    Restricted Stock Units  4M
    KELTIP Units 1 4M
Fully Diluted Shares  182M
Cash and Short-Term Investments 2  $3.6M

1 Key Employee Long Term Incentive Plan
2 As of June 30, 2020. $7.9M (net) raised in July 2020 offering.

All figures rounded to the nearest million except cash.

Quick Links