Golden Minerals Gets Positive Numbers for 3Q21

Golden Minerals published a report showing positive numbers for 3Q21, including a 38 percent increase in gold production.

The Colorado-based company announced through a press release that their payable production during 3Q21 went from 3,452 ounces of gold equivalent in 2Q21 to 4,952 ounces of gold.  Considering the total amount of ounces produced in the latest quarter, 4,777 ounces were gold and 12,196 ounces were silver. This production report took place in the Rodeo property, a gold-silver open pit mine located in the northern state of Durango.

Notable figures found in the report include an increase in average processed gold grade to 4.0 grams per ton, from 3.6 grams in 2Q21; as well as an average mill throughput of 532 tons per day, compared to 2Q21’s 427 tons per day. Plant recovery, on the other hand, was down to 76.5 percent, compared to 80 percent in 2Q21. On the later issue, the company revealed that they were already working in optimizing the mill circuit for “increased recovery, with a focus on a finer grind and additional aeration in the leach tank train.”

Moreover, the company reaffirmed its 2021 annual production forecast of 12,000 to 14,000 gold ounces and 25,000 to 30,000 ounces of silver output. “3Q21 was the first quarter of full production for Rodeo and the mine has exceeded expectations in terms of gold ounces produced. Our operations team has demonstrated exceptional ability to execute and follow through with our mining and processing plan. Given the excellent results this quarter, I expect we will close the year at the high end of our production guidance,” said Warren Rehn, President and Chief Executive Officer of Golden Minerals.

In an interview for MBN regarding the introduction of new technologies in the Velardeña property and an additional mill in Rodeo, Warren Rehn commented that, due to past failures in North America in bio-oxidation facilities, the public had been “led to a general mistrust regarding the technology, which is in my opinion completely unjustified. This technology is operating successfully in Africa and Australia.” Moreover, he revealed that Rodeo had a very “smooth startup,” which has in turn led to better-than-expected results. “For an open pit, (that) is quite a nice grade. We are also getting very good recoveries from the materials,” he said.

Golden Minerals is primarily focused on its two properties in Mexico: Rodeo and Velardeña, located in Durango. The company is looking forward to acquiring selected promising mining properties in Mexico and other Latin American countries, like Argentina.