Golden Minerals Reports Year-End 2017 Results

Golden Minerals Reports Year-End 2017 Results

GOLDEN, Colo., March 01, 2018 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American:AUMN) (TSX:AUMN) has today announced financial results for the full year ending December 31, 2017.

2017 Financial Highlights

  • Cash and equivalents $3.3 million as of December 31, 2017, $0.7 million higher than the $2.6 million on hand as of December 31, 2016
  • Received $1.0M in February 2018 for an amendment of the Celaya farm-out agreement
  • Zero debt, unchanged from year end 2016
  • Loss from operations narrowed by 39 percent to $3.9 million in 2017 from $6.3 million in 2016
  • Net loss narrowed by 63 percent to $3.9 million in 2017 from $10.7 million in 2016
  • Revenue of $6.7 million and operating margin of $4.5 million from the lease of Velardeña’s oxide plant to Hecla Mining Company (“Hecla”), compared to $6.4 million and $4.4 million, respectively, in 2016
  • Received $1.9 million net cash from Hecla in exchange for granting an option to extend the lease of our oxide plant through 2020
  • Generated an additional $2.6 million cash from the sale and farm-out of non-strategic properties and equipment and from Argentina tax refunds, and raised an additional $0.7 million from the issuance of common stock through the Company’s ATM program

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