GOLDEN MINERALS REPORTS SECOND QUARTER 2017 RESULTS

http://www.goldenminerals.com/pdfs/GLDN_InvestorKit/Press-Release-Aug-8-2017-Golden%20Minerals%20Q217%20Results.pdf

GOLDEN, CO, August 8, 2017 (GLOBE NEWSWIRE)  ‐‐  Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American and TSX: AUMN) today announced financial results for the second quarter ended June 30, 2017 and provided a 12‐month financial outlook.
Highlights
 Cash and cash equivalents balance of (US) $2.7 million as of June 30, 2017, compared to $2.1 million as of March 31, 2017 and $2.6 million as of December 31, 2016
 Additional $2.0 million cash to be received in August 2017 from Hecla Mining Company (“Hecla”) as consideration for granting Hecla a lease extension option, including $1.0 million already received for granting the option and an additional $1.0 million to be received before the end of August in exchange for the issuance of approximately 1.8 million shares of Company common stock
 Cash balance forecasts of approximately $4.0 million at December 31, 2017 and $3.0 million at June 30, 2018
 $0.2 million in net proceeds received during the second quarter 2017 from the issuance of common stock under the Company’s At the Market (“ATM”) program
 Revenue of $1.7 million and net operating margin (oxide plant lease revenue less lease costs) of $1.1 million related to the lease of the Company’s oxide plant in the second quarter 2017, compared to revenue of $1.6 million and net operating margin of $1.1 million related to the oxide plant lease in the second quarter 2016
 Loss from operations of $0.5 million in the second quarter 2017 compared to a loss from operations of $2.6 million in the second quarter 2016
 Insignificant net loss of $0.04 million in the second quarter 2017, including a non‐cash derivative gain of $0.4 million related to the Company’s warrants, compared to a net loss of $3.9 million in the second quarter 2016 that included non‐cash derivative losses of $1.2 million related to the Company’s warrants and convertible note
 Zero debt

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