Golden Minerals Announces Second Quarter 2014 Results
The Company reported a net loss of $5.0 million in the second quarter 2014 compared to a net loss of $217.8 million in the second quarter 2013, with the difference attributable primarily to a $238.0 million impairment charge recorded in the second quarter 2013. The Company reported zero gross margin in the current quarter as compared to a negative gross margin of $3.6 million in second quarter 2013, due to a suspension of mining activity at the Velardena Properties between mid-June 2013 and June 30, 2014. Velardena care and maintenance costs were $1.2 million in the current quarter compared to $2.3 million in the second quarter 2013, with the difference due to the inclusion of shut down expenses in the 2013 figure. Exploration expenses were $1.7 million in the second quarter 2014 compared to $1.2 million in the year ago period, with the difference attributable primarily to 2014 drilling at the Company’s Los Azules property in Mexico. Administrative expenses were $1.1 million in the current quarter compared to $1.6 million in the second quarter 2013.









