UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
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Item 8.01 | Other Events. |
On July 15, 2024, in connection with the previously disclosed asset purchase and sales agreements, dated April 29, 2024 (the “Sales Agreements”), between two of Golden Minerals Company’s (the “Company”) Mexico subsidiaries, Minera William S.A. de C.V. (“Minera William”) and Mineral Labri S.A. de C.V. (“Minera Labri”), and a privately held Mexican company (the “Buyer”), the Company announced that it has received payment in full of $2,500,000 cash, plus Value Added Tax (“VAT”), for the Velardeña Mine and associated facilities and title to such assets has been transferred to the Buyer. Further and in connection with the Sales Agreements, there has been a delay in the closing of the Mineral William agreement entered into to sell the oxide processing plant and the water wells, located in Durango State, Mexico. To date, the Company has received partial payments in the amount of $373,000 for these assets. The remaining $2,627,000 cash, plus VAT on the full sales price was due on July 1, 2024. The Company expects to negotiate an extension of the Buyer’s payment obligations under the Sales Agreements with the Buyer.
The foregoing description of the Sales Agreements does not purport to be complete and is qualified in its entirety by the full text of each of the Sales Agreements, copies of which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024.
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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 16, 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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