This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Golden Minerals Reports Production Increases Of 28% For Silver And 27% For Gold

GOLDEN, Colo., Oct. 11, 2012 /PRNewswire/ -- Golden Minerals Company (NYSE MKT: AUMN); (TSX: AUM) ("Golden Minerals" or "the Company") today provided production results from the Velardena Operations for the quarter ending September 30, 2012.

(Logo:  http://photos.prnewswire.com/prnh/20120803/LA52082LOGO)

Payable production for the third quarter was approximately 120,000 ounces of silver and 1,900 ounces of gold, 28% higher for silver and 27% for gold, as compared to the second quarter, and 18% and 19% higher for silver and gold, respectively, as compared to the average quarterly payable production for the first half of 2012. For the first three quarters payable production was approximately 325,000 ounces of silver and 5,100 ounces of gold.  Additionally, Velardena produced approximately 290,000 pounds of payable lead and 320,000 pounds of payable zinc in the third quarter and 700,000 pounds of lead and 930,000 pounds of zinc for the the first three quarters of 2012.

Jeffrey Clevenger, President and Chief Executive Officer, commented, "Our target for operationally positive cash flow beginning next year is on track with all of the equipment on site to achieve our mining ramp-up goals.  Third quarter production is indicative of the progress being made by the team at Velardena."

Mine development and ramp-up to the 850 tonne per day combined oxide and sulfide plant throughput is proceeding as planned, with a steady state run-rate of 850 tonnes per day anticipated in the third quarter of 2013. Engineering studies are also underway for the phased expansion to 1,150 ore tonnes per day.



About Golden Minerals

Golden Minerals Company is a Delaware corporation based in Golden, Colorado, primarily engaged in silver and gold mining at its Velardena Operations in Mexico and advancement of the evaluation stage El Quevar project in Argentina.



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs