Golden Minerals Co. has been informed by the NYSE American LLC of their non-compliance with the stock exchange’s continued listing standards. The Golden-based company, listed on NYSE American under the symbol “AUMN”, failed to meet three conditions outlined in Part 10 of the NYSE American Company Guide.
Specifically, Golden Minerals failed to meet the requirements of Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) since it declared stockholders’ equity of $600,000 as of March 31, 2024, alongside losses from ongoing operations and/or net losses in its five most recent financial years. The company had received a similar notice for non-compliance with Section 1003(a)(iii) on June 9, 2023.
In response to the previous non-compliance notice, the company presented a plan to regain compliance by Dec. 6, 2024. The NYSE Regulation staff approved this plan on Aug. 22, 2023, with a grace period running through to Dec. 6, 2024. This recent notification of non-compliance has no immediate effect on the company’s business operations or its common stock.
Golden Minerals, a precious metals mining exploration company, remains listed on the NYSE American while it strives to regain compliance with the specified sections of the Company Guide, subject to adhering to other ongoing listing requirements. The company focuses mainly on advancing their El Quevar silver property in Argentina and their Yoquivo property in Mexico. In addition, Golden Minerals aims to acquire and progress selected mining properties in Mexico, Nevada and Argentina.
Source: Press Release