Golden Minerals Co. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Golden Minerals Co. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Golden Minerals Co (AUMN) filed a Annual Report (10-K) with the SEC on March 19, 2024. Golden Minerals Co. filed its 2023 Form 10-K on March 19, 2024. The company's fiscal year ends on December 31, 2023. The filing covers the period ending December 31, 2023. The company is incorporated in Delaware (DE). The SIC code for Golden Minerals Co. is 1040 (GOLD & SILVER ORES).

Why It Matters

For investors and stakeholders tracking Golden Minerals Co, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Golden Minerals Co.'s financial health, operational activities, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future prospects. The detailed financial statements and risk factors within the report are essential for understanding the company's current financial position, potential challenges, and the regulatory environment it operates within.

Risk Assessment

Risk Level: medium — Golden Minerals Co shows moderate risk based on this filing. The company operates in the gold and silver mining industry, which is subject to significant price volatility, regulatory changes, and operational risks, as detailed in the filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Golden Minerals Co.'s financial position and operational challenges.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240319 — Filing Date (As of date)
• 1040 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Golden Minerals Co. (company) — Filer name
• DE (company) — State of incorporation
• GOLD & SILVER ORES (company) — Standard Industrial Classification
• APEX SILVER MINES LTD (company) — Former company name

FAQ

Risk Factors

• Commodity Price Volatility [high — market]: The market prices of gold and silver are subject to significant fluctuations, which can materially affect the company's financial results.
• Environmental and Mining Regulations [medium — regulatory]: The company's operations are subject to extensive environmental and mining regulations, which can lead to increased costs and operational delays.
• Operational Risks [medium — operational]: Mining operations are inherently risky and can be affected by geological challenges, equipment failures, and labor issues.

Industry Context

Golden Minerals Co. operates in the precious metals mining sector, focusing on gold and silver exploration and production.

Regulatory Implications

The company is subject to various U.S. and international regulations governing mining, environmental protection, and financial reporting.

What Investors Should Do

1. Analyze the company's financial statements for revenue, net income, and cash flow.
2. Review the risk factors section for specific operational and market challenges.
3. Examine any disclosures regarding exploration activities and project development.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-19: 10-K Filing Date — Date the annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value AUMN NYSE American Secu
• $1.62 — ice of the registrant's common stock of $1.62 per share on the NYSE American on June

Filing Documents

• aumn-20231231x10k.htm (10-K) — 2622KB
• aumn-20231231xex10d11.htm (EX-10.11) — 173KB
• aumn-20231231xex21d1.htm (EX-21.1) — 12KB
• aumn-20231231xex23d1.htm (EX-23.1) — 7KB
• aumn-20231231xex23d2.htm (EX-23.2) — 7KB
• aumn-20231231xex23d3.htm (EX-23.3) — 11KB
• aumn-20231231xex23d4.htm (EX-23.4) — 10KB
• aumn-20231231xex23d5.htm (EX-23.5) — 10KB
• aumn-20231231xex31d1.htm (EX-31.1) — 11KB
• aumn-20231231xex31d2.htm (EX-31.2) — 11KB
• aumn-20231231xex32d1.htm (EX-32.1) — 8KB
• aumn-20231231xex97d1.htm (EX-97.1) — 23KB
• aumn-20231231x10k001.jpg (GRAPHIC) — 52KB
• aumn-20231231x10k002.jpg (GRAPHIC) — 132KB
• aumn-20231231x10k003.jpg (GRAPHIC) — 123KB
• aumn-20231231x10k004.jpg (GRAPHIC) — 104KB
• aumn-20231231x10k005.jpg (GRAPHIC) — 220KB
• aumn-20231231x10k006.jpg (GRAPHIC) — 78KB
• aumn-20231231x10k007.jpg (GRAPHIC) — 195KB
• aumn-20231231x10k008.jpg (GRAPHIC) — 181KB
• aumn-20231231x10k012.jpg (GRAPHIC) — 5KB
• 0001558370-24-003526.txt (&nbsp;) — 14574KB
• aumn-20231231.xsd (EX-101.SCH) — 77KB
• aumn-20231231_cal.xml (EX-101.CAL) — 68KB
• aumn-20231231_def.xml (EX-101.DEF) — 302KB
• aumn-20231231_lab.xml (EX-101.LAB) — 617KB
• aumn-20231231_pre.xml (EX-101.PRE) — 500KB
• aumn-20231231x10k_htm.xml (XML) — 2122KB

AND ITEM 2

ITEM 1 AND ITEM 2 BUSINESS AND PROPERTIES 8 ITEM 1A

RISK FACTORS

RISK FACTORS 42 ITEM 1B UNRESOLVED STAFF COMMENTS 55 ITEM 1C CYBERSECURITY 55 ITEM 3

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 56 ITEM 4 MINE SAFETY DISCLOSURES 56 PART II ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 56 ITEM 6 RESERVED 57 ITEM 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 57 ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 67 ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 67 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 67 ITEM 9B OTHER INFORMATION 68 ITEM 9C DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 68 PART III ITEM 10 DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 69 ITEM 11

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 69 ITEM 12

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 69 ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 69 ITEM 14 PRINCIPAL ACCOUNTING FEES AND SERVICES 69 PART IV ITEM 15 EXHIBIT AND FINANCIAL STATEMENT SCHEDULES 70 ITEM 16 FORM 10-K SUMMARY 70 EXHIBITS 71

SIGNATURES

SIGNATURES 74 Unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "dollars" or "$" are to United States dollars. References herein to the "Company," "we," "us" or "Golden Minerals" refer to Golden Minerals Company and, unless context requires otherwise, its subsidiaries. 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Some information contained in or incorporated by reference into this Annual Report on Form 10-K (this "Form 10-K") may contain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. We use the words "anticipate," "continue," "likely," "estimate," "expect," "may," "could," "will," "project," "should," "believe" and similar expressions (including negative and grammatical variations) to identify forward- looking statements. These statements include comments relating to (i) our anticipated near-term capital needs and potential sources of capital; (ii) our plans regarding further advancement of the El Quevar project and reimbursements paid by Barrick under the Earn-in Agreement, to fund the El Quevar project; (iii) information regarding the Yoquivo property, including the estimates included in our initial mineral resource study, our future evaluation and drilling plans, information gained from drilling activities, and exploration activities; (iv) expectations pertaining to the recovery of VAT refunds from the Mexican government; (v) projected revenue and spending for the twelve months ending December 31, 2024; and (vi) statements concerning our financial condition, business strategies, business and legal risks, and our financial outlook for 2024, including anticipated expenditures and cash inflows during the year. Although we believe the expectations and assumptions reflected in those forward-looking statements are reasonable, we cannot assure you that these expectations and assumptions will prove to be correct Our actual results could differ materially from those expressed or implied in these forward-looking statements as a result of various factors described in this Form 10-K, including: The Company's expected near-term cash needs, including the need to raise additio

View Full Filing

View this 10-K filing on SEC EDGAR