Subscribe Now - Click Here:       1 Year for only $149   or   3 months for $99

Category: Junior: Late Stage Developer
Rating: 3.00   (Potential 5 Bagger as of 05/09/2017)
Risk: High
Golden Minerals Co
www: www.goldenminerals.com     email: investor.relations@goldenminerals.com

Profile
Notes
Forum
Your Data

Price Data

Symbol Date Price Change 52 Wk Range Volume
NYSEMKT:AUMN 10/20/2017 USD 0.430 -0.001 0.848 - 0.430 83,790
TSE:AUMN 10/19/2017 CAD 0.5500 0.0000 1.1000 - 0.5500 240
Alert me when stock is updated

Don's Summary (from last analysis - 05/09/2017)

Golden Minerals was one of my favorite stocks in 2011. They had 50 properties on 800,000 acres, including two flagship projects: Velardena in Mexico and El Quevar in Argentina. Velardena was in production with plans to ramp up to 4 million oz of silver production. Then the gold price correction began in 2011 and they fell apart. In June 2013, they stopped production at Velardena because of high cash costs. They went into crisis mode and sold all of their Peru properties at fire-sale prices. The stock has crashed 99% from $28 to 25 cents. What a mess.

The good news is they are positioned to rebound once silver prices rise. They have $3 million in cash and no debt, plus $4 million in expected annual income in 2017 and 2018 for leasing the Valardena mill. My expectation is they should be back in production in 2018.

They have the potential to get Velardena ramped up to 4 million oz of production, with 80,000 oz of gold offsets. Plus, they have two other projects (Rodeo and Santa Maria) in Mexico for future growth. And they want to find a JV partner for El Quevar (60 million oz). My guess is they will option or sell El Quevar and focus on Mexico.

When they merged with ECU Silver in 2011, I thought they would have about 300 million oz of silver resources. In fact, even their 2012 Annual Report claimed 340 million oz of inferred silver equivalent. However, they hired a company in 2012 to redo the Valardena 43-101 resource estimate. The outcome was a much more conservative result. Now they claim to have only 70 million oz of silver resources and 600,000 oz of gold (although they list the “high” estimate at Velardena as 187 million oz of silver and 3 million oz of gold). I think their resources will end up being much higher at Velardena.

General Details

Financial 05/09/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $53.41M $46.88M 05/09/2017 $-6.53M
Total Assets: $14.01M $13.26M 06/30/2017 $-0.75M
Total Liabilities: $5.65M $5.42M 06/30/2017 $-0.23M
Current Assets: $4.77M $4.55M 06/30/2017 $-0.22M
Current Liabilities: $1.25M $1.43M 06/30/2017 $0.18M
Total Debt: $0.00M $0.00M 06/30/2017 $0.00M
Cash: $2.92M $2.96M 06/30/2017 $0.04M
Enterprise Value: $50.49M $43.92M 05/24/1971 $-6.57M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 05/09/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 05/09/2017 0.00%
Misc 05/09/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $0.490 $0.430 13:10 on 10/20/2017 $-0.06
Shares Outstanding: 89,020,000 90,030,000 06/30/2017 1,010,000
Shares Fully Diluted: 109,000,000 109,000,000 05/09/2017 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a 01/01/2018 05/09/2017 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
05/09/2017 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
05/09/2017 0
Initial CapEx (Outstanding): n/a n/a 05/09/2017 n/a
Funding Option: n/a n/a 05/09/2017 n/a
Documentation: none FS 05/09/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 05/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 05/09/2017 0.00M
Measured & Indicated: n/a n/a 05/09/2017 0.00M
Inferred: n/a n/a 05/09/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 05/09/2017 0.00M
Measured & Indicated: n/a n/a 05/09/2017 0.00M
Inferred: n/a n/a 05/09/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/09/2017 $0.00
Extra Operating Cost: n/a n/a 05/09/2017 $0.00
Average Grade: n/a n/a 05/09/2017 n/a
Recovery Rate: n/a n/a 05/09/2017 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 05/09/2017 0.00M
Annual Production: n/a n/a 05/09/2017 n/a
Cash Cost: n/a n/a 05/09/2017 n/a
Extra Operating Cost: n/a n/a 05/09/2017 n/a
SILVER 05/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 05/09/2017 0.00M
Measured & Indicated: 65.00M 65.00M 05/09/2017 0.00M
Inferred: 65.00M 65.00M 05/09/2017 0.00M
Reserves & Resources: 130.00M 130.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 05/09/2017 0.00M
Measured & Indicated: 46.80M 46.80M 05/09/2017 0.00M
Inferred: 29.25M 29.25M 05/09/2017 0.00M
Reserves & Resources: 76.05M 76.05M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/09/2017 $0.00
Extra Operating Cost: n/a n/a 05/09/2017 $0.00
Average Grade: 150.00 g/t 150.00 g/t 05/09/2017 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 05/09/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 80.00M 80.00M 05/09/2017 0.00M
Annual Production: 4,000,000oz. 4,000,000oz. 05/09/2017 0oz.
Cash Cost: $16 $16 05/09/2017 $0
Extra Operating Cost: $6 $6 05/09/2017 $0

Property

Last Analysis Data  (05/09/2017)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Durango, Mexico Velardena district 100% 550 n/a show
Mine is on care and maintenance until 2018 or 2019.
Development Mexico, Mexico Santa Maria 100% (guess) n/a Underground show
3.3 million oz resource at 330 got.

PEA completed.

$1 million capex.

3 year mine life.
Exploration Pocitos, Argentina El Quevar 100% 55,000 n/a show
Second project. Very high grade. No timeline yet for production.
Exploration Mexico, Mexico Rodeo 100% 1,900 Open Pit show
150,000 deposit.

.6 got
Exploration Zacatecas, Mexico Zacatecas 100% n/a n/a n/a
Total Land Package Size (ha): 57,450  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Durango, Mexico Velardena district 100% 550 n/a show
Mine is on care and maintenance until 2018 or 2019.
Development Mexico, Mexico Santa Maria 100% (guess) n/a Underground show
3.3 million oz resource at 330 got.

PEA completed.

$1 million capex.

3 year mine life.
Exploration Pocitos, Argentina El Quevar 100% 55,000 n/a show
Second project. Very high grade. No timeline yet for production.
Exploration Mexico, Mexico Rodeo 100% 1,900 Open Pit show
150,000 deposit.

.6 got
Exploration Zacatecas, Mexico Zacatecas 100% n/a n/a n/a
Total Land Package Size (ha): 57,450  

Profitability (by resource)

Proven &
Probable
05/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
n/a n/a n/a 0.00%
Measured &
Indicated
05/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): 65.00M 65.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: 46.80M 46.80M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $-191.65M $-163.47M n/a $28.17M
Total Maximum Profit: $-191.65M $-163.47M n/a $28.17M
Max Profit / Current MCap: n/a n/a n/a 0.101
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $-1.76 $-1.50 n/a $0.26
Total Max Profit Per Share: $-1.76 $-1.50 n/a $0.26
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $86.30 $75.33 n/a $-10.97
FD Mkt. Cap / Silver Eq.: $1.14 $1.00 n/a $-0.14
FD Mkt. Cap / Per Metal
as % Spot Price:
7.07% 5.89% n/a -1.18%

Reserves &
Resources
05/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.01M
Total (Silver Eq. Oz.): 130.00M 130.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.01M
Silver Eq. Oz.: 76.05M 76.05M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $-311.42M $-265.64M n/a $45.78M
Total Maximum Profit: $-311.42M $-265.64M n/a $45.78M
Max Profit / Current MCap: n/a n/a n/a 0.165
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $-2.86 $-2.44 n/a $0.42
Total Max Profit Per Share: $-2.86 $-2.44 n/a $0.42
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $53.11 $46.36 n/a $-6.75
FD Mkt. Cap / Silver Eq.: $0.70 $0.62 n/a $-0.09
FD Mkt. Cap / Per Metal
as % Spot Price:
4.35% 3.62% n/a -0.72%

Future Valuation (Cash Flow & Totals)

Totals 05/09/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
C
U
R
R
E
N
T
R & R Valuation: $184.23M $194.04M n/a $9.81M
Mkt. Cap: $53.41M $46.88M n/a $-6.53M
Annual Gold Production: n/a n/a 0oz.
Annual Silver Production: n/a n/a 0oz.
F

U

T

U

R

E
FD Mkt. Cap: $1,200.00M $1,200M n/a $0M
FD Mkt. Cap Growth: 2,147% 2,460% n/a 313%
Annual
Production
Gold: n/a n/a n/a n/a
Silver: 4,000,000 oz. 4,000,000 oz. n/a 0 oz.
Current FD
Mkt. Cap /
Gold Eq. Reserves: 16.69 14.65 n/a -2.04
Silver Eq. Reserves: 0.67 0.59 n/a -0.08
Gold Eq. Production: 333.81 293.01 n/a -40.81
Silver Eq. Production: 13.35 11.72 n/a -1.63
P&P
Reserves
(oz.)
Gold: n/a n/a 05/09/2017 n/a
Silver: 80.00M 80.00M 05/09/2017 n/a
Gold Eq.: 3.20M 3.20M 05/09/2017 n/a
Silver Eq.: 80.00M 80.00M 05/09/2017 n/a
P&P Reserves
per FD
Share (oz.)
Gold: n/a n/a n/a n/a
Silver: 0.734 0.734 n/a n/a
Gold Eq.: 0.029 0.029 n/a n/a
Silver Eq.: 0.734 0.734 n/a n/a
Cash Flow 05/09/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Current: $0.00M $0.00M n/a $0.00M
Current Multiple: 0.00 0.00 n/a 0.00
F
U
T
U
R
E
@ current prices: $-14.04M $-11.98M n/a $2.06M
Multiple @ current prices: 0.00 0.00 n/a 0.00
Growth @ current prices: 0.00% 0.00% n/a 0.00
@ future prices: $187.20M $187.20M n/a $0.00M
Multiple @ future prices: 0.29 0.25 n/a -0.03
Growth @ future prices: 0.00% 0.00% n/a 0.00

Defaults

We use cookies on this website. By using this site, you agree that we may store and access cookies on your device. Find out more here.     ×