Golden Minerals Co Reports FY23 Revenue of $12.0M, down from $23.3M YoY Vs $19.8M Est, EPS Loss of $(1.08) Vs $(1.49) YoY

Author: Benzinga Newsdesk | March 19, 2024 06:58am

• Total 2023 revenue was $12.0 million, including the sale of metals from the Rodeo mine as well as revenue from slag and concentrate sales at Velardeña. Total revenue was $23.3 million in 2022, which was attributable solely to the sale of metals from the Rodeo mine.
• 2023 cost of metals sold was $12.4 million (including costs from both Rodeo and Velardeña) vs. $17.5 million in 2022, which included only Rodeo costs.
• Exploration expenses were $3.4 million in 2023 vs. $9.6 million in 2022.
• Velardeña care and maintenance expenses were $1.2 million in 2023 vs. $1.4 million in 2022.
• Administrative expenses were $4.7 million in 2023 vs. $4.5 million in 2022.
• Other operating income was $2.3 million in 2023 vs. $1.6 million in 2022.
• Net loss was $9.2 million, or $1.08 per share, in 2023 compared to a net loss of $9.9 million, or $1.49 per share, in 2022.
• Cash and equivalents balance was $3.8 million as of December 31, 2023 vs. $4.0 million as of December 31, 2022.
• Debt was zero as of December 31, 2023, which is unchanged from December 31, 2022.

Posted In: AUMN