- Golden Minerals (AUMN, Financial) reduces net loss to $7.6M from $9.2M year-over-year.
- Company maintains a cash balance of $3.2M as of December 31, 2024, with zero debt.
- Forecasts expenditures of $3.3M for 2025, risking cash depletion by Q1 2026 without new funding.
Golden Minerals Company (OTCQB: AUMN) has released its full-year 2024 financial results, highlighting a strategic repositioning with several key asset sales. The company successfully sold its Velardeña Properties for $5.5 million, the El Quevar project in Argentina for $3.5 million, and the Yoquivo project in Mexico for $0.57 million.
Financially, Golden Minerals reported a cash balance of $3.2 million as of December 31, 2024, down from $3.8 million in 2023, while maintaining a zero-debt position. The company achieved a reduction in net loss to $7.6 million ($0.52 per share) from $9.2 million ($1.08 per share) the previous year. Exploration and administrative expenses were also reduced to $0.6 million and $3.6 million, respectively.
The company’s 2024 liquidity discussion revealed total expenditures of $10.2 million, while cash inflows reached $9.6 million, mostly from asset sales. Looking ahead, Golden Minerals forecasts total expenditures of $3.3 million for 2025. This includes $1.0 million for exploration and $1.8 million for administrative expenses. Without further financing, the company warns that its resources may be exhausted by Q1 2026, potentially leading to operational cessation and liquidation.
