Golden Minerals Cashes In on El Quevar Project Sale

Golden Minerals Co ( (AUMN) ) has provided an update.

Golden Minerals Company has struck a deal to sell its subsidiary, Silex Argentina S.A., to Butte Energy Inc. for a total of $3.5 million in cash. The subsidiary is behind the El Quevar Project in Argentina. Payments are staggered, with $1 million already paid and the remaining $2.5 million due at the transaction’s close, pending regulatory approvals. The agreement details will be included in an upcoming quarterly report, complementing an official press release about the sale.

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