---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-023399"
form_type: "8-K"
ticker: "AUMN"
cik: "0001011509"
company_name: "Golden Minerals Co"
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T06:14:26.202536+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Golden Minerals cuts Rodeo margin guidance, Fabled misses payment; cash insufficient for 12 months

## Summary
- Net operating margin from Rodeo for 12 months ending Sep 2023 now $3.6-4.6M, down from $5.5-6.5M.
- Q4 2022 actual margin $0.4M, $0.7M below forecast due to lower gold/silver prices and grades.
- Fabled missed $250K installment; notice of default issued; remaining $1.75M from Santa Maria sale no longer expected.
- Cash balance $4.0M as of Dec 31, 2022; company says existing cash insufficient for 12 months ending Sep 2023.
- Plans to reduce spending, consider asset sales or equity raise to maintain liquidity.

## SEC filing metadata
- accession: 0001104659-23-023399
- form_type: 8-K
- ticker: AUMN
- cik: 0001011509
- company_name: Golden Minerals Co
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1011509/000110465923023399/0001104659-23-023399-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1011509/000110465923023399/tm237318d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-023399
- JSON: https://secwatch.observer/filing/0001104659-23-023399.json
- Plain text: https://secwatch.observer/filing/0001104659-23-023399.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.