Yet to Close Minera William Deal
Golden Minerals Company has announced the completion of an asset purchase and sale agreement dated April 29, 2024. Pursuant to this agreement, the company has recieved full payment of $2,500,000, plus value added tax, for the Velardeña Mine and associated facilities. The title has subsequently been transferred to an unnamed privately held Mexican company.
In a related matter concerning the same agreements, the company also revealed a delay in the closing of the Minera William deal. This agreement involves the sale of the oxide processing plant and water wells situated in Mexico’s Durango State. As of now, Golden Minerals Company has only received partial payments, totaling $373,000, for these assets.
The outstanding amount of $2,627,000, in addition to the value added tax on the total sale price, was due on July 1. Despite this delay, the company remains optimistic about resolving the issue, as it expects to negotiate an extension with the Mexico-based purchasing company.
Source: Press Release