Golden Minerals Company Begins Gold Production
GOLDEN, Colo., Jan. 13, 2021 (WORLD NEWSWIRE) — Golden Minerals Business (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) is delighted to reveal it has actually started gold production at its Rodeo gold task found in Durango State, Mexico, approximately 2 weeks ahead of schedule and on spending plan.
The Business transferred the very first loads of Rodeo’s gold-containing product by roadway to its close-by Velardeña oxide mill for processing recently. The mill has actually started processing the product and prepares for a very first put of gold-silver doré bars within 2 weeks.
At first, Rodeo product will be processed at a rate of about 200 tonnes each day (“tpd”), going through the presently functional 10.5’ by 13’ ball mill. Golden remains in the procedure of setting up an extra 8’ by 22’ ball mill at Velardeña, as formerly interacted, which is created to increase processing throughput by increasing grinding capability for the silicified product from Rodeo. This 2nd ball mill will run in series after the main ball mill. The Business approximates the regrind mill will be total and all set to run near completion of the very first quarter 2021, at which point day-to-day mill throughput is anticipated to increase to about 450 tpd.
Golden Minerals President and President, Warren Rehn, commented today, “I’m very pleased to announce that Golden Minerals has officially transitioned to gold-silver producer from exploration company. Despite the Covid-19-related uncertainties of the past year, we’ve been able to develop this project and put it into production ahead of schedule and on budget. Rodeo is expected to generate significant free cash flow for us that will be used, in part, to further work at our larger, silver-gold Velardeña Properties. Rodeo’s production is the first step toward the Company achieving sustainable, long-term profitability.”
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado. The Business is mainly concentrated on advancing its Rodeo and Velardeña properties in Mexico and, through partner-funded expedition, its El Quevar silver residential or commercial property in Argentina, in addition to getting and advancing mining homes in Mexico, Argentina, and Nevada.
This news release consists of positive declarations within the significance of Area 27A of the Securities Act of 1933, as modified and Area 21E of the Securities Exchange Act of 1934, as modified, and appropriate Canadian securities legislation, consisting of declarations concerning expectations surrounding the timing of gold-silver doré production at the Velardeña oxide mill; rates of processing of Rodeo product at the Velardeña oxide mill; and the expected timing of setup and operation of the brand-new regrind ball mill at the Velardeña oxide mill and its anticipated enhancement of healings and throughput of Rodeo product. These declarations go through dangers and unpredictabilities, consisting of the reasonability of the financial presumptions at the basis of the Rodeo Initial Economic Evaluation and technical report and the other financial forecasts of the Rodeo mine; modifications in analyses of geological, geostatistical, metallurgical, mining or processing info; analyses of the info arising from expedition, analysis or mining and processing experience; changes in currency exchange rate and modifications in political conditions, tax, royalty, ecological or other laws in Mexico; changes in silver or gold costs; and the timing period and general effect of the COVID-19 pandemic, consisting of the possible future re-suspension of non-essential activities in Mexico, consisting of mining. Golden Minerals presumes no responsibility to upgrade this info. Extra dangers associating with Golden Minerals might be discovered in the regular and present reports submitted with the SEC by Golden Minerals, consisting of the Business’s Yearly Report on Type 10-K for the year ended December 31, 2019.
For extra info please check out http://www.goldenminerals.com/ or contact:
Golden Minerals Business
Karen Winkler, Director of Financier Relations
SOURCE: Golden Minerals Business
Jobber Wiki author Frank Long contributed to this report.