Golden Minerals Co (AUMN): M&A transaction — Golden Minerals closes El Quevar sale for $3.5M; warns of possible liquidation if no new capital

Golden Minerals Co

Completed sale of Silex Argentina (El Quevar Project) to Butte Energy for US$3.5M total; $2.5M received Oct 24, 2024.
Post-sale cash and equivalents ~$3.6M; accounts payable ~$1.6M; still owed $1.8M plus VAT from Velardeña asset sale.
Only near-term cash flow source is from asset sales, equity, or external financing; no operational cash inflows.
Evaluating sale of company, other assets, or financing; may cease operations and liquidate if unable to obtain resources.

item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.98

Golden Minerals Co completed a disposition involving Butte Energy Inc. for $3.5 million (closed 2024-10-24).

Action: disposition
Counterparty: Butte Energy Inc.
Consideration: $3.5 million
Closing: 2024-10-24

Exact text from the filing

Company’s wholly owned subsidiary that holds the El Quevar Project located in Salta Province, Argentina, to Butte Energy Inc. In connection with the sale, the Company received $3.5 million in cash. --- EX-99.1 (EX-99.1) --- Golden Minerals Announces Completion of Sale of its El Quevar Silver Project and Provides Corporate Update GOLDEN, CO - /BUSINESS WIRE/

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Source: SEC EDGAR

accession 0001558370-24-013874

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