Golden Minerals’ President and Chief Executive Officer, Warren Rehn, notes, “We feel this is a very positive transaction for Golden Minerals. It will let us monetize Santa Maria’s value while keeping our risk to a minimum. The ongoing cash stream that this transaction presents will be used to further some of Golden’s other exploration projects.”
Rob McEwen, Chairman and Chief Owner commented: “Exploration continued to shine this quarter with Stock and Grey Fox drill results returning multi-ounce gold intersections at relatively shallow depths. In Nevada, our Gold Bar Mine produced almost 5,000 ounces of gold in September. Drilling at Gold Bar South returned several new drill holes showing broad intervals of grades better than twice that of the current resource, which should enhance the project’s economics. Our focus is on exploration to grow our production and extend the life of our mines.”
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