Golden Minerals Co (AUMN): Nasdaq/NYSE listing notice — Golden Minerals receives delisting notice, plans mine restart with insufficient cash

Golden Minerals Co

NYSE American notice: stockholders' equity $4.1M below $6M minimum; compliance plan due July 6, 2023.
Board approved restart of Velardeña silver-gold mine, needing $0.5M initial capital; cash at May 31 was $2.4M.
Cash expected to deplete early Q3 2023 without asset sales or financing; warns of possible liquidation.
Unifin lawsuit claims up to $12.5M; trial set for June 30, 2023, could jeopardize Velardeña restart.
Velardeña restart projected to produce 0.4M silver equivalent oz in 2023; net operating margin $1.7-2.0M by May 2024.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Golden Minerals Co received a nyse_american deficiency notice notice regarding stockholders equity (rules 1003(a)(iii)).

Exchange: nyse american
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 1003(a)(iii)

Exact text from the filing

June 6, 2023, Golden Minerals Company (the “Company”) received written notification (the “Notice”) from the NYSE American LLC (the “NYSE American”) that the Company is not in compliance with Section 1003(a)(iii) of the NYSE American Company Guide (the “Company Guide”). The Company is required to report a stockholders’ equity of $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. The Notice noted that the Company reported a stockholders’ equity of $4.1 million as of March 31, 2023, and losses from continuing

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Golden Minerals Co filing history →

Source: SEC EDGAR

accession 0001104659-23-069921

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