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Stock impact report

Barrick to opt-out from earn-in pact with Golden Minerals [Seeking Alpha]

Golden Minerals Company (AUMN) 
NASDAQ:AMEX Investor Relations: goldenminerals.com/ir.php
Company Research Source: Seeking Alpha
project which the two parties signed in April 2020, the second-biggest gold producer notified the company. The termination will be effective on April 20, 2024. To date, Barrick has spent more than $6.0 million of work expenditures at El Quevar, located in Salta province, Argentina, and has completed a five-hole, 1,300-meter drill program that identified a potential gold prospect in the central Eastern part of Quevar's land package, Golden Minerals ( AUMN ) said. That report noted the presence of vuggy silica alteration, which is commonly associated with high sulfidation epithermal gold-silver deposits, in all holes, the company said. The agreement offered Barrick the opportunity to earn an undivided 70% interest in the El Quevar project by spending $10.0 million on work expenditures over a total of eight years, which included spending $0.5 million per year in years one and two, $1.0 million per year in years three, four and five, and $2.0 million per year in years six, seven a Show less Read more
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