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Stock Market & Financial Investment News

News Breaks
June 18, 2014
13:23 EDTAUMNGolden Minerals to restart Velardena mining in July
Earlier today, Golden Minerals Company announced plans for a July 2014 restart of mining at its Velardena Properties located in Durango state, Mexico. Once mining and processing are ramped up to approximately 285 tonnes per day of sulfide ore in mid-2015, the company expects output of approximately 1.0 to 1.2M silver equivalent ounces per annum , with cash costs between $12 and $15 per silver ounce net of by-product credits. Golden has completed a 9,000-meter drill program at Velardena in vein systems located largely outside the currently defined Canadian National Institute NI 43-101 compliant resource. That drill program represents the first known drilling of the Terneras vein system sulfides in the area below the historic mine workings. The company's drilling, mine planning and analysis indicate that positive net cash flow may be achieved at the Velardena Properties at current silver and gold prices. An independent engineering firm participated in the preparation of the mining plan. Chairman, President and CEO Jeffrey G. Clevenger noted, "Our team has worked diligently since the suspension of operations at Velardena to streamline the operation for a restart. A year ago we were looking at cash costs in excess of $30 per silver ounce and now we are excited to begin the ramp-up process to achieve costs and margins based on production at $12 to $15 per silver ounce. Once ramped up, our restart plans show incremental cash for the company of about $5 to $8M per year at today's prices as compared to holding the property for the future." Shares of Golden Minerals are higher by 22.4% in afternoon trading.
News For AUMN From The Last 14 Days
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July 17, 2015
10:05 EDTAUMNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
06:45 EDTAUMNGolden Minerals downgraded to Neutral from Buy at Roth Capital
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July 15, 2015
19:00 EDTAUMNGolden Minerals lowers FY15 output guidance to 400K payable Ag Ez Oz
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18:55 EDTAUMNGolden Minerals reports Q2 production of 125K payable Ag Eq Oz
Golden Minerals reported Q2 results of mining activities of approximately 125K ounces of payable silver equivalent, in line with Q1. Q2 mill throughput was negatively impacted by lower than planned amounts of material removed from the mine. The mill has processed up to 370 tpd and averaged 225 tpd during the quarter. The mill did not operate for 19 days during the quarter due to insufficient material delivered from the mine. The mill averaged 280 tpd on days that the mill operated during the quarter. Q2 cash costs per payable silver ounce, net of by-product credits, were approximately $26.00 and are expected to decline as the mine ramps up in Q3. Q2 average grades of material processed were 170 gpt silver and 2.78 gpt gold vs. 178 gpt silver and 2.66 gpt gold in Q1.
18:32 EDTAUMNGolden Minerals enters into lease agreement with Minera Hecla
Golden Minerals Company (AUMN) announced that its wholly-owned subsidiary, Minera William S.A. de C.V., owner of the Velardena Properties in Durango State, Mexico, has entered into a lease agreement with Minera Hecla, S.A. de C.V., a wholly-owned subsidiary of Hecla Mining (HL). Hecla has leased the currently idle Velardena oxide plant for an initial term of 18 months beginning July 1 with potentially two additional six-month extensions beyond the initial 18-month term. Hecla may extend the lease for six months at its option, and then for a subsequent six months unless William elects to use the plant to process material from its own sources. Hecla will make nominal monthly payments to William beginning July 1 until production begins, anticipated to be around January 1, 2016. Once Hecla reaches its intended capacity of approximately 400 tonnes per day, monthly payments to William will be approximately $400,000 per month or nearly $5M annually. Should required licenses and permits not be obtained by March 31, 2016, either party has the right to terminate the agreement. The lease contains typical covenants and termination rights. Hecla is responsible for all costs associated with the start up, operation and maintenance of Plant 2.

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