AUMN - Golden Minerals begins production at Rodeo project

Golden Minerals (AUMN) +3.4% pre-market on news it has started gold production at its Rodeo gold project located in Mexico, roughly two weeks ahead of schedule and on budget.The company says it transported the first loads of Rodeo's gold-containing material to its nearby Velardeña oxide mill for processing last week, with first pour of gold-silver doré bars expected within two weeks."Golden Minerals has officially transitioned to gold-silver producer from exploration company," President and CEO Warren Rehn says, adding that Rodeo's "significant" free cash flow will be used partly to further work at Velardeña.While Golden Minerals is expected to be a small-scale producer with just 14K gold equiv. oz. produced in FY 2021, "the stock is a name worth keeping an eye on," Taylor Dart writes in an analysis posted on Seeking Alpha.

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Golden Minerals begins production at Rodeo project