Golden Minerals to stop mining operations at Velardeña, shares down

Golden Minerals

29/02/2024 16:47

(Updates)
    ** Shares of gold and silver miner Golden Minerals  AUMN.A 
fall ~42% to an all-time low of 31 cents
    ** Company says it will stop mining operations at Velardeña
in Durango state, Mexico
    ** Initial performance of the mine and processing plant
during course of initial several months of production has not
achieved results projected by company, Golden Minerals says
    ** Company plans to evaluate potential alternatives for
Velardeña properties, which may include sale or winding up of
certain of Golden Minerals' Mexico operations
    ** Including session's losses, AUMN down ~40% YTD

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))