Golden Minerals completes sale of Mexican subsidiaries for $65,000

2 months ago 46

TipRanks

Sat, January 3, 2026 astatine 6:15 AM CST 1 min read

Golden Minerals (AUMN) Company completed the merchantability of its wholly owned Mexican subsidiaries, Servicios Velardena and GMC Equipos, to a privately held Mexican group. The transaction was completed connected December 30, for full information of astir $65,000. Upon consummation of the transaction, Servicios Velardena and GMC Equipos held nett operating losses, inflation-adjusted superior contributions, respective liabilities including astir $60,000 successful past-due accounts payable, the remaining labour assertion successful Mexico of astir $56,000, and the Rodeo mining concession, a mined-out task that includes an associated plus status work with a publication liability worth of astir $450,000. Under Mexican law, the equilibrium of the subsidiaries’ superior publication accounts whitethorn beryllium bought and sold. All funds related to the merchantability person been received.

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