HomeMarket NewsMiningGolden Minerals stops mining at Velardeña two months after restart

Golden Minerals stops mining at Velardeña two months after restart

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Golden Minerals Ceases Mining Operations at Velardeña

Disappointing Performance at Velardeña Mines

Emerging news from the Golden Minerals camp hasn’t exactly been gold-standard. Just when the Velardeña mines were gearing up for a triumphant return, fate had other plans. The resumption of operations at Velardeña marked a significant milestone, with the production of gold-rich pyrite flotation concentrates commencing a month prior. However, hopes of a bountiful financial harvest were dashed as mining activities hit a roadblock. A cocktail of low metal prices, mining dilution, and metallurgical hurdles forced a halt in operations.

Rethinking Strategies at Velardeña Properties

The tides have turned, and Golden Minerals now stands at a crossroads. Struggling to navigate the turbulent waters of Velardeña, the company is on the lookout for a viable game plan. Contemplating various alternatives, including a property sale or the winding up of operations in Mexico, Golden Minerals is making strategic maneuvers to avert further financial storms. With the Yoquivo property in Chihuahua state taking center stage, boasting an impressive inferred resource, the company is eyeing a potential turnaround.

Stock Market Turmoil and Market Capitalization Dip

Market shocks rippled across the Golden Minerals stock landscape following the unsettling announcement. A sharp decline of 37.5% saw the company’s stock plummet to C$0.45 by midday on Thursday, reaching a distressing 52-week low of C$0.37 earlier in the trading session. The market capitalization of Golden Minerals now stands at an estimated $4.4 million, reflecting the tumultuous terrain the company finds itself navigating.

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