AUMN - Golden Minerals: A Softer Year Ahead At Rodeo

• Golden Minerals released its preliminary Q1 results last week, reporting quarterly production of ~3,800 gold-equivalent ounces, a ~25% decline from Q4 levels.
• This was related to much lower grades at its Rodeo Mine, and production is expected to average less than 3,700 ounces on a quarterly basis in 2022, below 2021 levels.
• However, if the company can restart Velardena and maintain a small production profile at Rodeo post-2023, there is some growth to this story.
• At a share price of US$0.51, I do not see a low-risk buy point, but I would become more interested from a swing-trading standpoint below US$0.38.

For further details see: