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Stock impact report

Golden Minerals Enters Into Option Agreement to Sell Its Santa Maria Project

Golden Minerals Company (AUMN) 
NASDAQ:AMEX Investor Relations: goldenminerals.com/ir.php
Company Research Source: GlobeNewswire
GOLDEN, Colo., Oct. 17, 2019 (GLOBE NEWSWIRE) -- Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) announced today that it has entered into an option agreement (the “Transaction”) to sell its right to acquire a 100% interest in the Santa Maria silver and gold project located in southern Chihuahua State, Mexico to Magellan Gold Corporation (OTCQB: MAGE) (“Magellan”). The agreement provides for a period of up to 150 days during which Magellan will complete its due diligence review and secure adequate financing for the project. Prior to the end of such period, Magellan will have the right to exercise its option to acquire the Company’s interests in the project.  If Magellan exercises its option, Magellan will pay $1.0 million cash to Golden Minerals at closing. Golden Minerals will retain a 6.5% NSR royalty from all production at Santa Maria until a total of $3.0 million has been paid to the Company under the royalty agreement. Therea Show less Read more
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