Golden Minerals says resources not sufficient to meet cash needs for 12 months

The company said, “The Company does not currently have sufficient resources to meet its expected cash needs for a period of twelve months beyond the filing date of the 2025 Quarterly Report on Form 10-Q that accompanies this press release. At June 30, 2025, Golden Minerals (AUMN) had current assets of approximately $2.7M, including cash and cash equivalents of approximately $2.5M. On the same date, it had accounts payable and other current liabilities of approximately $4.3M, which includes $2.97M in deferred revenue for the sale of the Velardena oxide plant and water wells recorded within Current liabilities held for sale on the interim Condensed Consolidated Balance Sheets. As previously disclosed, the Company ceased mining at the Velardena mines in Mexico as of June 30, 2024 and subsequently sold the mines and certain related assets. As of June 30, 2025, the Company was owed $32,000 plus $5,000 value-added tax of the $3M purchase price for the Velardena oxide plant and water wells and other minor remaining Velardena assets. The Company’s only near-term opportunity to generate cash flow to meet its expected cash requirements is from the sale of assets, equity or other external financing. The Company is evaluating and pursuing alternatives, including the potential sale of the Company, finalizing the sale of its assets at the Velardena Properties, seeking buyers or partners for the Company’s other assets or obtaining equity or other external financing. In the absence of additional cash inflows, the Company anticipates that its cash resources will be exhausted in approximately the first quarter of 2026. If Golden Minerals is unable to obtain additional cash resources or sell the Company, it will be forced to cease operations and liquidate.”