Golden Minerals Faces NYSE Delisting Over Low Stock Price

TL;DR

AUMN got a warning from NYSE about its stock price, might get delisted if they don't fix it.

AI Summary

Golden Minerals Company (AUMN) announced on July 2, 2024, that it received a notice from the New York Stock Exchange (NYSE) indicating non-compliance with listing standards due to its low stock price. The company has 45 days to submit a plan to regain compliance. Failure to do so could lead to the delisting of its common stock from the NYSE.

Why It Matters

This filing signals potential delisting from the NYSE, which could significantly impact the liquidity and trading of Golden Minerals' stock.

Risk Assessment

Risk Level: high — The company is at high risk of being delisted from the NYSE, which would severely impact its stock's marketability and investor confidence.

Key Numbers

• 45 days — Compliance Period (Timeframe for Golden Minerals to submit a plan to regain NYSE listing compliance.)

Key Players & Entities

• Golden Minerals Company (company) — Registrant
• NYSE (company) — Stock Exchange issuing notice
• July 2, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AUMN NYSE American Indi
• $2.0 million — ing standards: Stockholders' equity of $2.0 million or more if it has reported losses from
• $4.0 million — 1003(a)(i)); Stockholders' equity of $4.0 million or more if it has reported losses from
• $6.0 million — (a)(ii)); and Stockholders' equity of $6.0 million or more if it has reported losses from
• $621,000 — nce it reported stockholders' equity of $621,000 as of March 31, 2024, and losses from c

Filing Documents

• aumn-20240702x8k.htm (8-K) — 43KB
• aumn-20240702xex99d1.htm (EX-99.1) — 9KB
• aumn-20240702xex99d1002.jpg (GRAPHIC) — 10KB
• 0001558370-24-009720.txt ( ) — 220KB
• aumn-20240702.xsd (EX-101.SCH) — 4KB
• aumn-20240702_def.xml (EX-101.DEF) — 3KB
• aumn-20240702_lab.xml (EX-101.LAB) — 12KB
• aumn-20240702_pre.xml (EX-101.PRE) — 10KB
• aumn-20240702x8k_htm.xml (XML) — 5KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 2, 2024, 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)(i) and 1003(a)(ii) of the NYSE American Company Guide (the "Company Guide"). The Company is required to report the following under the NYSE American continued listing standards: Stockholders' equity of $2.0 million or more if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years (Section 1003(a)(i)); Stockholders' equity of $4.0 million or more if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years (Section 1003(a)(ii)); and Stockholders' equity of $6.0 million or more if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years (Section 1003(a)(iii)). As previously reported, on June 6, 2023, the Company received a written notification that it is not in compliance with Section 1003(a)(iii) the Company Guide. The Notice provides that the Company is now also below compliance with Sections 1003(a)(i) and 1003(a)(ii) the Company Guide since it reported stockholders' equity of $621,000 as of March 31, 2024, and losses from continuing operations and/or net losses in its five most recent fiscal years ended December 31, 2023. As a result, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide and must regain compliance with Sections 1003(a)(i)-(iii) of the Company Guide by December 6, 2024. The Company is already subject to an accepted plan of compliance in relation to its non-compliance of Section 1003(a)(iii) of the Company Guide, and will continue its efforts to regain compliance with all stockholders' equity standards accordingly.

01

Item 9.01 Financial Statement s and Exhibits. (d) Exhibits . Exhibit Number Description 99.1 Press release of Golden Minerals Company, dated July 9, 2024. 104 Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101). 2 SIGNATUR E Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 9, 2024 Golden Minerals Company By: /s/ Julie Z. Weedman Name: Julie Z. Weedman Title: Senior Vice President and Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR