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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

Current Report

 

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 11, 2023

 

GOLDEN MINERALS COMPANY

(Exact name of registrant as specified in its charter)

 

delaware   1-13627   26-4413382
(State or other jurisdiction of
incorporation or organization)		   (Commission
File Number)		   (I.R.S. Employer
Identification Number)

 

350 Indiana Street, Suite 650

Golden, Colorado 80401

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (303) 839-5060

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.01 par value   AUMN   NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

 

 

 

 

 

 

TABLE OF CONTENTS

 

Item 2.02   Results of Operations and Financial Condition.
     
Item 9.01   Financial Statements and Exhibits.
     
Signature    

 

2

 

 

Item 2.02Results of Operations and Financial Condition.

 

On January 11, 2023, Golden Minerals Company issued a press release reporting production results for the fourth quarter of 2022 and the year ending December 31, 2022. A copy of the press release is attached to this report as Exhibit 99.1.

 

The information in this Current Report on Form 8-K, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibits.

 

Exhibit
No.		   Description
99.1   Press release of Golden Minerals Company, dated January 11, 2023, reporting fourth quarter and 2022 year-end production results.
     
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

3

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: January 11, 2023

 

  Golden Minerals Company
   
  By: /s/ Julie Z. Weedman
    Name: Julie Z. Weedman
    Title:   Senior Vice President and Chief Financial Officer

 

4

 

Exhibit 99.1

 

 

 

Golden Minerals Company Reports Q4 and FY 2022 Gold Production

 

GOLDEN, CO - /BUSINESS WIRE/ - January 11, 2023 – Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) has reported production data from its Rodeo gold-silver mine (Durango State, Mexico) for the fourth quarter ending December 31, 2022 and full year 2022. Summary highlights include the following:

 

·Payable gold production: 2,398 oz Au in Q4 and 11,982 oz Au in FY 2022

·Payable silver production: 13,560 oz Ag in Q4 and 52,179 oz in FY 2022

·Payable gold equivalent production: 2,568 AuEq oz in Q4 and 12,616 AuEq oz in FY 2022

·Average gold grade: 2.0 g/t Au in Q4 and 2.6 g/t in FY 2022

·Throughput (tonnes per day processed): 573 tpd in Q4 and 536 g/t in FY 2022

·Gold recovery: 73.3% in Q4 and 74.7% in FY 2022

·Silver recovery: 82.0% in Q4 and 81.2% in FY 2022

·Realized gold/silver prices (before selling and refining costs): $1,729/oz Au and $21.69/oz Ag in Q4; $1,805/oz Au and $21.93/oz Ag in FY 2022

 

Rodeo Operations Statistics

 

   Q1 2022   Q2 2022   Q3 2022   Q4 2022   FY 2022 
Tonnes mined (1)   203,591    213,925    192,545    161,424    771,485 
Tonnes in stockpiles awaiting processing (2)   10,898    21,713    23,618    31,381    31,381 
Tonnes in low grade stockpiles (3)   88,559    95,932    121,202    193,479    193,479 
Tonnes processed   47,437    47,479    47,947    52,736    195,599 
Average tonnes per day processed   527    522    521    573    536 
                          
Average gold grade processed (grams per tonne)   3.1    2.6    2.6    2.0    2.6 
Average silver grade processed (grams per tonne)   11.6    10.4    10.4    10.2    10.6 
                          
Plant recovery - gold (%)   75.4    75.1    74.6    73.3    74.7 
Plant recovery - silver (%)   82.8    82.3    77.6    82.0    81.2 
                          
Payable gold produced in dore (ounces)   3,608    3,004    2,972    2,398    11,982 
Payable silver produced in dore (ounces)   13,944    12,768    11,907    13,560    52,179 
Payable gold equivalent produced in dore (ounces) (4)   3,787    3,158    3,103    2,568    12,616 
                          
Gold sold in dore (ounces)   3,855    3,060    3,018    2,518    12,451 
Silver sold in dore (ounces)   14,481    13,180    11,609    14,217    53,486 
Gold equivalent sold in dore (ounces) (4)   4,040    3,219    3,145    2,696    13,101 
                          
Average realized price, before refining and selling costs                         
Gold (dollar per ounce)  $1,887.65   $1,864.99   $1,703.10   $1,729.40   $1,805.34 
Silver (dollar per ounce)  $24.24   $22.49   $18.72   $21.69   $21.93 

 

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GOLDEN MINERALS COMPANY

350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060

 

 

 

 

Notes:

(1) Includes all mined material transported to the plant, stockpiled or designated as waste

(2) Includes mined material stockpiled at the mine or transported to the plant awaiting processing in the plant

(3) Material grading between 1.6 g/t (current cutoff grade) and 1 g/t Au held for possible future processing

(4) Gold equivalents based on realized $ Au and $ Ag price

 

About Golden Minerals

 

Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardeña Properties in Mexico and, through partner funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.

 

Follow us at www.linkedin.com/company/golden-minerals-company/ and https://twitter.com/Golden_Minerals

 

For additional information please visit http://www.goldenminerals.com/ or contact:

 

Golden Minerals Company

Karen Winkler, Director of Investor Relations

(303) 839-5060

SOURCE: Golden Minerals Company

 

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GOLDEN MINERALS COMPANY

350 Indiana Street – Suite 650 – Golden, Colorado 80401 – Telephone (303) 839-5060