Golden Minerals: Q1 Earnings Snapshot
May 6, 2021
FacebookTwitterEmail
GOLDEN, Colo. (AP) Golden Minerals Co. (AUMN) on Thursday reported a loss of $3.2 million in its first quarter.
The Golden, Colorado-based company said it had a loss of 2 cents per share.
The precious metals mining company posted revenue of $1.8 million in the period.
The company s shares closed at 79 cents. A year ago, they were trading at 22 cents.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUMN at https://www.zacks.com/ap/AUMN Top Picks In Shopping
Article content
GOLDEN, Colo., May 06, 2021 (GLOBE NEWSWIRE) Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American and TSX: AUMN) today provided financial results and a business summary for the quarter ending March 31, 2021.
First Quarter Summary Financial Results
(All currency expressed in approximate USD)
Revenue $1.8 million, cost of metals sold $1.5 million and net operating margin $0.2 million in the first quarter 2021, all related to mining at the Company’s Rodeo gold-silver operations (the “Rodeo Property”). In the first quarter 2020, the Company recorded revenue of $1.2 million and a net operating margin of $0.6 million related to a lease of the Company’s oxide mill to Hecla Mining. That lease concluded on November 30, 2020.
The company said it expects to report a profit during the second quarter of this year Golden Minerals ended the quarter with cash and equivalents of US$8 million as of March 31
Golden Minerals Company (NYSEAMERICAN:AUMN) (TSE:AUMN) (FRA:7GB) reported a 25% year-over-year increase in its first-quarter 2021 revenue to US$1.8 million, as gold and silver mining operations began at its Rodeo property in Mexico in January.
The company ended the quarter with cash and equivalents of US$8 million as of March 31.
“The first quarter of 2021 has been transformational for Golden Minerals, as we report results as a gold-silver producer for the first time since 2015. At the end of April, we surpassed our daily throughput goal at our oxide plant of 450 tpd with the successful commissioning of the second ball mill installed at the plant,” Golden Minerals CEO Warren Rehn said in a statement.
NA Proactive news snapshot: One World Lithium, Recruiter.com Group, Aion Therapeutic, Nextleaf Solutions, Phyto Extractions UPDATE …
A glance at some of the day s highlights from the Proactive Investors US and Canada newswires Your daily round-up from the world of Proactive
One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) announced it had started drilling the third hole of a four-hole drill program as part of its Phase Three program at the Salar del Diablo lithium brine property in Mexico. Drilling at DDH-3 (diamond drill hole) will occur 24 hours a day, the company said in a release. DDH-3 is 50 kilometres south of DDH-2. Depending upon the results, OWL said it may sink more diamond drill holes in the “immediate” area.