AUMN - Golden Minerals Stock: Digging Into The Q2 Results

• Golden Minerals released its preliminary Q2 results last week, reporting quarterly production of ~3,600 gold-equivalent ounces, a more than 130% increase sequentially.
• The increased production was driven by a more than 100% increase in tonnes processed and higher grades, with gold grades up 20% to ~3.6 grams per tonne gold.
• While this should translate to a sharp increase in revenue and the company remains on track to meet guidance, Golden still looks fairly valued even after the recent drop.
• So, while the company should post a massive increase in revenue in FY2021 if it can meet guidance of ~13,500 gold-equivalent ounces, I see better opportunities elsewhere in the sector.

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