Golden Minerals Co (AUMN): M&A transaction — Golden Minerals sells Santa Maria property for $1.5M cash plus 1.5% NSR royalty

Golden Minerals Co

Received $1.5M cash and $0.24M VAT for 100% interest in Santa Maria gold-silver property in Mexico.
Granted 1.5% net smelter return royalty on the concession, capped at $1.0M.
TSM may purchase the royalty right for $0.5M before commercial production begins.
Sale completed December 1, 2023; press release issued December 5, 2023.

item 1.01 item 2.0 item 7.01 item 9.01 item 2.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Golden Minerals Co completed a disposition involving Transformaciones y Servicios Metalurgicos S.A. DE C.V. for $1.5 million in cash and $0.24 million in Value-Added Tax (closed 2023-12-01).

Action: disposition
Counterparty: Transformaciones y Servicios Metalurgicos S.A. DE C.V.
Consideration: $1.5 million in cash and $0.24 million in Value-Added Tax
Closing: 2023-12-01

Exact text from the filing

On December 1, 2023, Golden Minerals Company (the “Company”) completed the previously announced sale (the “Sale”) of the Company’s 100% interest in the Santa Maria mining claims located in Chihuahua State, Mexico to Transformaciones y Servicios Metalurgicos S.A. DE C.V. (“TSM”) pursuant to the Contract of Assignment of Mining Rights, dated as of December 1, 2023 (the “Agreement”). In connection with the Sale, the Company received $1.5 million in cash and $0.24 million in Value-Added Tax (“VAT”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Golden Minerals Co entered into Contract of Assignment of Mining Rights with Transformaciones y Servicios Metalurgicos S.A. DE C.V. valued at $1.5 million in cash and $0.24 million in Value-Added Tax (effective 2023-12-01).

Action: entry
Agreement: asset purchase
Counterparty: Transformaciones y Servicios Metalurgicos S.A. DE C.V.
Value: $1.5 million in cash and $0.24 million in Value-Added Tax
Effective: 2023-12-01

Exact text from the filing

On December 1, 2023, Golden Minerals Company (the “Company”) completed the previously announced sale (the “Sale”) of the Company’s 100% interest in the Santa Maria mining claims located in Chihuahua State, Mexico to Transformaciones y Servicios Metalurgicos S.A. DE C.V. (“TSM”) pursuant to the Contract of Assignment of Mining Rights, dated as of December 1, 2023 (the “Agreement”).

View on SEC.gov

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Golden Minerals Co filing history →

Source: SEC EDGAR

accession 0001104659-23-124288

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