Golden Minerals Company filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits
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Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On July 2, 2024, Golden Minerals Company (the “Company”) received written notification (the “Notice”) from the NYSE American LLC (the “NYSE American”) that the Company is not in compliance with Section 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide (the “Company Guide”). The Company is required to report the following under the NYSE American continued listing standards:
| ● | Stockholders’ equity of $2.0 million or more if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years (Section 1003(a)(i)); |
| ● | Stockholders’ equity of $4.0 million or more if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years (Section 1003(a)(ii)); and |
| ● | Stockholders’ equity of $6.0 million or more if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years (Section 1003(a)(iii)). |
As previously reported, on June 6, 2023, the Company received a written notification that it is not in compliance with Section 1003(a)(iii) the Company Guide. The Notice provides that the Company is now also below compliance with Sections 1003(a)(i) and 1003(a)(ii) the Company Guide since it reported stockholders’ equity of $621,000 as of March 31, 2024, and losses from continuing operations and/or net losses in its five most recent fiscal years ended December 31, 2023. As a result, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide and must regain compliance with Sections 1003(a)(i)-(iii) of the Company Guide by December 6, 2024.
The Company is already subject to an accepted plan of compliance in relation to its non-compliance of Section 1003(a)(iii) of the Company Guide, and will continue its efforts to regain compliance with all stockholders’ equity standards accordingly. The Company’s progress toward regaining compliance is subject to periodic review by the NYSE American, including quarterly monitoring for compliance with the initiatives outlined in the plan of compliance.
The Notice has no immediate effect on the Company’s common stock or its business operations. The Company’s common stock will continue to be listed on the NYSE American under the symbol “AUMN” while it regains compliance with Sections 1003(a)(i)-(iii) of the Company Guide, subject to the Company’s compliance with other continued listing requirements.
Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits.
Exhibit Number | Description |
99.1 | Press release of Golden Minerals Company, dated July 9, 2024. |
104 | Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101). |
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SIGNATURE
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: July 9, 2024
Golden Minerals Company | |||||
By: | /s/ Julie Z. Weedman | ||||
Name: Julie Z. Weedman | |||||
Title: Senior Vice President and Chief Financial Officer | |||||
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