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Golden Minerals Ord Shs T.AUMN

Alternate Symbol(s):  AUMN

Metals & Mining Industrial Metals & Minerals
Golden Minerals Company is a precious metals mining exploration company. The Company is primarily focused on advancing its Yoquivo property in Mexico and, through partner-funded exploration, advancing its El Quevar silver property in Argentina. It is also focused on acquiring and advancing selected mining properties in Mexico, Nevada and Argentina. The Yoquivo Project is located 210 km west-southwest of the city of Chihuahua, in Ocampo Municipality, Chihuahua State. The Yoquivo Project consists of approximately seven mining concessions with an area totaling about 1,975 hectares (Ha). The El Quevar silver exploration project is located in the San Antonio de los Cobres municipality, Salta Province, in the altiplano region of northwestern Argentina. The El Quevar project is comprised of approximately 31 mining concessions that it holds directly or indirectly through its wholly owned subsidiaries. In total, the El Quevar project encompasses approximately 57,000 Ha.


TSX:AUMN - Post by User

Golden Minerals Ord Shs
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Post by chalkmarkson Apr 27, 2011 3:53pm
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Post# 18496546

Ex #33 Silver Report

Ex #33 Silver Report

From Cannacord's Silver Juniors Report:

"We note that Golden Minerals is trading at a 0.44x P/NAV (7.5%, spot) and 3.7x 2013E

CFPS vs. the junior precious metal producer average of 0.85x P/NAV and 10.2x 2013E

CFPS. As Golden Minerals demonstrates the silver production potential and exploration

upside of the El Quevar project, we expect the company to benefit from a re-valuation in

the market in line with the junior producer average.

We value Golden Minerals Company based on a 0.75x multiple to our 7.5%-disounted peak

silver NAVPS (US$47.50/oz) estimate, which gives us a target price of C$38.75per share

(rounded). We initiate coverage on Golden Minerals Company with a SPECULATIVE BUY

recommendation."

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