Golden Minerals Company (AUMN) experienced a decline of 5.98% in the aftermarket. However, the last trading session concluded at $0.41 with an incline of 1.08%.
New Chief Financial Officer Revealed
On 23rd November 2021, AUMN announced that Julie Weedman is the new chief financial officer of the company. Ms. Weedman has more than 30 years of financial and accounting expertise to Golden Minerals, most recently working as Vice President Finance at Aerospace Contacts LLC. Lastly, she is a very good fit for the company.
Now what?
AUMN welcomes Julie to the team on behalf of Golden Minerals and its board of directors. Julie adds a plethora of mining industry, accounting, and finance expertise to the firm. The company is certain that her proven abilities will be critical as AUMN continues to develop in 2022 and beyond.
Drilling Program by AUMN – What’s new?
On 10th November 2021, AUMN announced the results of the drilling program. The company reported that it had finished the Rodeo gold-silver mine in Durango, Mexico recently. Rodeo’s drilling efforts in 2021 included 47 RC holes totaling 3,187m and 35 diamond holes totaling 2461m. The diamond drilling program concentrated on investigating various near-mine exploration prospects, whereas the RC drilling program focused on resource growth. The current publication, which includes findings from 21 RC and 6 diamond drill holes, is the third since the drill program began. Wide zones of high-grade gold mineralization have been intersected by drilling, which is surrounded by a vast zone of low-grade, scattered gold and silver mineralization.
So what?
The drill regimen has been really promising. AUMN uncovered a zone of scattered gold-silver mineralization surrounding the high-grade core. Not only this, but the company was able to extend the high-grade mineralization to the north and south of the open pit. Lastly, the company is now studying the data and will update the resource model and mine plan as needed once they know the scope of the probable mineralized material additions.
Third Quarter Results 2021 are out now!
AUMN released third-quarter 2021 results on 4th November 2021. Mining activities at the Company’s Rodeo gold-silver mine in Mexico generated revenue of $8.5 million and a net operating profit of $4.2 million in the third quarter of 2021. Moreover, the Company generated $2.1 million in revenue from the leasing of its oxide mill in the third quarter of 2020, with a net operating margin of $1.6 million. Lastly, AUMN made a $0.4 million profit, compared to a $1.3 million loss in the same period in 2020.
