Golden Minerals Co. Files 8-K: Material Agreement & Financials

TL;DR

AUMN filed an 8-K on Aug 30 for a material agreement and financials. Looks like they're moving forward.

AI Summary

Golden Minerals Company (AUMN) entered into a Material Definitive Agreement on August 30, 2024, related to its financial statements and exhibits. The company, formerly known as Apex Silver Mines Ltd, is incorporated in Delaware and is involved in gold and silver ores.

Why It Matters

This filing indicates a significant contractual development for Golden Minerals, potentially impacting its financial reporting and operational status.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the filing of financial statements is a standard but important disclosure for investors.

Key Numbers

• 1-13627 — SEC File Number (Identifier for Golden Minerals Co.)
• 26-4413382 — IRS Employer Identification Number (Tax identification for the company.)

Key Players & Entities

• Golden Minerals Company (company) — Registrant
• August 30, 2024 (date) — Date of earliest event reported
• Apex Silver Mines Ltd (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• 350 Indiana Street, Suite 650 (address) — Principal executive offices
• Golden, Colorado 80401 (address) — Principal executive offices location

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AUMN NYSE American Indi
• $3.5 m — purchase price of the Silex Shares is US$3.5 million, paid or payable in cash, as foll
• $500,000 — d or payable in cash, as follows: (1) US$500,000, as a non-refundable deposit, paid to t
• $2.5 million — of the Acquisition Agreement; and (3) US$2.5 million payable to the Company upon closing of

Filing Documents

• aumn-20240830x8k.htm (8-K) — 42KB
• aumn-20240830xex99d1.htm (EX-99.1) — 23KB
• aumn-20240830xex99d1001.jpg (GRAPHIC) — 10KB
• 0001558370-24-012642.txt ( ) — 236KB
• aumn-20240830.xsd (EX-101.SCH) — 4KB
• aumn-20240830_def.xml (EX-101.DEF) — 3KB
• aumn-20240830_lab.xml (EX-101.LAB) — 12KB
• aumn-20240830_pre.xml (EX-101.PRE) — 10KB
• aumn-20240830x8k_htm.xml (XML) — 5KB

01

Item 1.01 Entry into a Material Definitive Agreement. On August 30, 2024, Golden Minerals Company (the "Company") entered into a letter agreement (the "Letter Agreement") with Butte Energy Inc. ("Butte") for a potential transaction pursuant to which Butte would acquire 100% of the issued and outstanding shares of Silex Argentina S.A. (the "Silex Shares"), the Company's wholly-owned subsidiary that owns the El Quevar Project, located in Salta Province, Argentina ("El Quevar"). The Letter Agreement is intended to be binding on the Company and Butte, pending (i) negotiation of a definitive Acquisition Agreement (the "Acquisition Agreement") on or prior to September 30, 2024, and (ii) closing of the sales transaction for the Silex Shares (the "Transaction") on or prior to October 31, 2024. The purchase price of the Silex Shares is US$3.5 million, paid or payable in cash, as follows: (1) US$500,000, as a non-refundable deposit, paid to the Company on September 3, 2024; (2) US$500,000 payable to the Company upon execution of the Acquisition Agreement; and (3) US$2.5 million payable to the Company upon closing of the Transaction. The foregoing description of the Letter Agreement does not purport to be complete and is qualified in its entirety by the full text of the Letter Agreement, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. Closing of the Transaction will be subject to additional conditions, including receipt of regulatory approvals, completion of due diligence review by Butte, and approvals from the board of directors of each of Butte and Golden.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On September 3, 2024, the Company issued a press release announcing that the Company entered into the Letter Agreement with Butte. A copy of the press release is attached hereto as Exhibit 99.1 . The information in Item 7.01 of this Current Report on Form 8-K, including the information set forth in Exhibit 99.1 , is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 99.1 Press Release of Golden Minerals Company, dated September 3, 2024, announcing that the Company entered into the Letter Agreement with Butte. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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: September 6, 2024 Golden Minerals Company By: /s/ Joseph G. Dwyer Name: Joseph G. Dwyer Title: Senior Vice President and Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR