GOLDEN, Colo. / Nov 21, 2023 / Enterprise Wire / Golden Minerals Firm (“Golden Minerals,” “Golden” or the “Firm”) (NYSE-A: AUMN and TSX: AUMN) is happy to announce it has begun producing gold-bearing pyrite flotation focus from its Velardeña Properties in Durango State, Mexico.
The Firm is processing materials that has been stockpiled at Velardeña because the mines final operated in 2015. The fabric was solely partially processed throughout previous operations and a gold and silver bearing pyrite focus has not beforehand been separated from the fabric. In periods of previous operations, focus gross sales phrases have been uneconomic for the gold-bearing pyrite focus that comes from Velardeña. Nonetheless, current and notably extra favorable market phrases supplied for these concentrates imply Velardeña’s gold pyrite/arsenopyrite concentrates at the moment are financial to course of and promote (see the Firm’s press launch dated April 4, 2023: Golden Minerals Proclaims Improved Phrases for Velardeña Gold-Pyrite Focus).
The Firm started processing final week and estimates its first cargo of concentrates will happen this week. The Firm plans to proceed processing this beforehand stockpiled materials till enough newly-mined materials from Velardeña is obtainable for processing at full capability, which is anticipated to happen inside the subsequent a number of months. The Firm plans to begin mining at Velardeña in December. The mining contractor is mobilizing now and might be on website the primary week of December.
About Golden Minerals
Golden Minerals is a gold and silver mining firm based mostly in Golden, Colorado. The Firm is primarily targeted on resuming manufacturing at its Velardeña Properties and advancing its Yoquivo property in Mexico, and, by partner-funded exploration, advancing its El Quevar silver property in Argentina. The Firm can also be targeted on buying and advancing chosen mining properties in Mexico, Nevada and Argentina.
Ahead-Trying Statements
This press launch comprises forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, and relevant Canadian securities laws, equivalent to statements concerning the Velardeña Properties, together with the timing of the primary cargo of gold and silver bearing pyrite concentrates, plans to proceed processing beforehand stockpiled materials, the timing through which enough newly-mined materials for processing at full capability might be obtainable and plans to begin mining on the properties in December. These statements are topic to dangers and uncertainties, together with will increase in prices and declines generally financial situations; adjustments in present payable phrases for gold and silver bearing pyrite concentrates; adjustments in political situations, in tax, royalty, environmental and different legal guidelines in Mexico and different market situations; unanticipated variations in grade; challenges related to our proposed mining plans, together with difficulties in controlling grade dilution and interruptions in mining; and variations within the anticipated prices to restart Velardeña, Golden Minerals assumes no obligation to replace this data. Extra dangers regarding Golden Minerals could also be discovered within the periodic and present stories filed with the Securities & Alternate Fee by Golden Minerals, together with the Firm’s Annual Report on Kind 10-Ok for the yr ended December 31, 2022.
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