Category: Investor’s Corner

Golden Minerals Company has today announced financial results and a business summary for the full fiscal year ending December 31, 2020.

“We saw modest disruptions in Quebec and Mexico; however, these did not materially impact our business. During the year we refinanced our long-term debt now due in 2028, and through solid free cash flow generation, added cash to the balance sheet, reduced our net debt, and increased dividends.”

“Pan American delivered strong financial performance in 2020, generating a record $462.3 million in operating cash flow, which enabled us to fully repay all bank debt, double our quarterly dividend to shareholders, and grow our cash balance at year end,” said Michael Steinmann, President and Chief Executive Officer

The Company intends to use the net proceeds from the offering for general corporate purposes and working capital, including to improve infrastructure at its Mexico and Montana antimony installations, to improve infrastructure at its Idaho zeolite operation, to fund a geochemical, geological and geophysical program at its Los Juarez property, to fund corporate governance expenses, and to retire certain indebtedness.

The proceeds from the sale of the CDE Flow-Through Shares will be used on development expenses on the Magino project as permitted under the Tax Act to qualify as CDE.

Rod Antal, President and CEO said, “We exited 2020 with strong operational and financial momentum across all four of our operating assets…”

“We are pleased to continue delivering industry-leading returns through the highest dividend in the gold sector at an annualized payout of $2.20 per share and a dividend yield of over 3.5%,” said Tom Palmer, President and Chief Executive Officer.

“Graduating to the OTCQX highlights the recent growth at Heliostar as we progress our high-grade gold projects in Alaska and Mexico.”

Subject to acceptance of the TSX Venture Exchange, the Private Placement is expected to close immediately prior to or concurrent with the Company’s acquisition of the El Cubo mine and mill complex.