Golden Minerals Company, through its
precious metals mining properties in Mexico and Argentina, holds an estimated
59.3 million silver equivalent ounces in the Measured and Indicated category,
which is the most accurate category of economic mineral estimation.
The company’s primary project, the
Velardeña properties, consists of two mines and processing facilities located
in the state of Durango, Mexico. Following the acquisition of the properties in
September 2011, Golden reached payable production of approximately 843,000
silver equivalent ounces throughout 2012, with approximately 457,000 ounces of
silver and 6,450 ounces of gold. As gold and silver prices began to slump in the
first half of 2013, the company halted production at the Velardeña properties
in order to best conserve the asset until a sustainable cash margin could be
achieved.
With the downtime, the company was
able to develop a new mining plan that is expected to net a positive cash flow
in the coming months. The company will continue to ramp up production at the
Velardeña properties through the second quarter of this year, executing its new
mining plan in order to sustain maximum returns for shareholders.
In addition to the Velardeña
properties, Golden also retains 100 percent control over the El Quevar project
located in northwest Argentina. According to a 2012 NI 43-101 compliant
technical report, the 55,000-hectare property shows a silver resource of 32.0
million ounces Indicated, as well as just short of an additional 100 percent
Inferred. The company has noted the property’s characteristics as those of an
emerging silver district, and it is currently seeking a partner with whom to
conduct further analysis and advancement.
The future looks bright for Golden.
As development continues on its two properties, expect mineral prices to play a
major role in the overall growth potential of the company. With both gold and
silver prices on the upswing following an increase in demand, it appears to be
a great opportunity for Golden to increase its foothold in the global market.
Golden has predicted positive gross
margins for the Velardeña properties in the coming year following the
completion of significant exploration processes during 2014. As the company
continues to search for a partner to move forward with the El Quevar project,
shareholders should expect significant growth opportunities in the years to
come.
For more information, visit
www.goldenminerals.com
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