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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Financing the Mill

Our Q3 financial and production numbers will be out in 45 days by November 15. My best estimate is $0 to $500,000 profit. Q4 will be released by February 15, 2011 and I am expecting $2 to $3 million profit. This will be 1 cent a share which is 4 cents annualized. A 30:1 PE is very reasonable for ECU at this stage which will put us at $1.20 per share by 2/1/10. The shorts are hoping for one more finance before our profits kick in, but I do not think ECU will give it to them now that the gold pyrite sales have begun.

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