Golden Minerals Begins Producing Gold-Bearing Pyrite Concentrate at Velardeña
November 21 2023 - 6:45AM
Business Wire
Golden Minerals Company (“Golden Minerals,” “Golden” or the
“Company”) (NYSE-A: AUMN and TSX: AUMN) is pleased to announce it
has begun producing gold-bearing pyrite flotation concentrate from
its Velardeña Properties in Durango State, Mexico.
The Company is processing material that has been stockpiled at
Velardeña since the mines last operated in 2015. The material was
only partially processed during past operations and a gold and
silver bearing pyrite concentrate has not previously been separated
from the material. During periods of past operations, concentrate
sales terms were uneconomic for the gold-bearing pyrite concentrate
that comes from Velardeña. However, recent and notably more
favorable market terms offered for these concentrates mean
Velardeña’s gold pyrite/arsenopyrite concentrates are now economic
to process and sell (see the Company’s press release dated April 4,
2023: Golden Minerals Announces Improved Terms for Velardeña
Gold-Pyrite Concentrate).
The Company began processing last week and estimates its first
shipment of concentrates will take place this week. The Company
plans to continue processing this previously stockpiled material
until sufficient newly-mined material from Velardeña is available
for processing at full capacity, which is anticipated to occur
within the next several months. The Company plans to start mining
at Velardeña in December. The mining contractor is mobilizing now
and will be on site the first week of December.
About Golden Minerals
Golden Minerals is a gold and silver mining company based in
Golden, Colorado. The Company is primarily focused on resuming
production at its Velardeña Properties and advancing its Yoquivo
property in Mexico, and, through partner-funded exploration,
advancing its El Quevar silver property in Argentina. The Company
is also focused on acquiring and advancing selected mining
properties in Mexico, Nevada and Argentina.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and applicable Canadian securities legislation, such as
statements regarding the Velardeña Properties, including the timing
of the first shipment of gold and silver bearing pyrite
concentrates, plans to continue processing previously stockpiled
material, the timing in which sufficient newly-mined material for
processing at full capacity will be available and plans to start
mining at the properties in December. These statements are subject
to risks and uncertainties, including increases in costs and
declines in general economic conditions; changes in current payable
terms for gold and silver bearing pyrite concentrates; changes in
political conditions, in tax, royalty, environmental and other laws
in Mexico and other market conditions; unanticipated variations in
grade; challenges associated with our proposed mining plans,
including difficulties in controlling grade dilution and
interruptions in mining; and variations in the anticipated costs to
restart Velardeña, Golden Minerals assumes no obligation to update
this information. Additional risks relating to Golden Minerals may
be found in the periodic and current reports filed with the
Securities & Exchange Commission by Golden Minerals, including
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022.
Follow us at www.linkedin.com/company/golden-minerals-company/
and https://twitter.com/Golden_Minerals.
For additional information, please visit
http://www.goldenminerals.com/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231121290444/en/
Golden Minerals Company Karen Winkler, Director of Investor
Relations (303) 839-5060
Golden Minerals (AMEX:AUMN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Golden Minerals (AMEX:AUMN)
Historical Stock Chart
From Apr 2023 to Apr 2024