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 holds a 100% interest in the Rodeo property in Durango State, Mexico (the Rodeo Property), a 100% interest in the Velardena oxide processing plant and related water wells in the state of Durango, Mexico (the Velardena Properties) which are subject to a purchase agreement with a private Mexican entity, and a diversified portfolio of precious metals and other mineral exploration properties located primarily in or near historical precious metals producing regions of Mexico, Argentina and Nevada. The Velardena Properties, and the Yoquivo exploration property in Mexico, are the Company’s only material properties. 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).

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Golden Minerals Ord Shs

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Post by RoyalBlueon Aug 06, 2010 9:08pm

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Post# 17329871

San Cristobal agreement finished

As many who follow this company now know, AUM will no longer have its revenue from San Cristobal mine. Read this from its updated prospectus.

Following the termination of our agreement to manage the San Cristóbal mine, we have no revenues and we will require external financing to continue the advancement of El Quevar following completion of the feasibility study and to continue our other activities.

This signifies one of two things:

1. Management is incredibly short-sighted by prematurely cutting of this revenue stream.
2. Or, management is gaining confidence in El Quevar and believe its merits will speak for itself when it comes to financing and want to focus all there efforts therein.

Thoughts anyone?