GOLDEN, Colo., Nov. 16, 2015 /CNW/ — Golden Minerals Company (“Golden Minerals” or the “Company”) (NYSE MKT: AUMN) (TSX: AUM) today announced results for the third quarter ended September 30, 2015.
Third Quarter Summary
- Revenue of (US)$1.8 million in the third quarter 2015 compared to $2.0 million in the second quarter 2015 and no revenue in the third quarter 2014
- Net loss of $16.8 million in the third quarter 2015, of which $13.2 million reflects an impairment charge taken at the Velardena Properties relating to the November 2015 shutdown
- Generated approximately 128,000 and sold approximately 124,000 payable silver equivalent ounces (AgEq oz) in the third quarter 2015, compared to 125,000 and 133,000 AgEq oz in the second quarter 2015
- Leased currently-idled oxide plant to a third party, which is expected to provide between $4.0 and $5.0 million in net cash flow to the Company in 2016