Re: Golden Minerals Reports Significant Operational Improvements at Velardena
posted on
Jan 11, 2012 09:04AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Very good news and it could be a very interesting Q1. I bought some AUM yesterday for the first time in a long time. I hope we see more short covering because I am quite sure there is still a large short position. We have a long ways to go just to get back to pre-merger prices but the future looks promising.
I have had many long talks about this company and the general concensus is that they must prove that it can be profitable to mine this resource in order for the company to flourish. The biggest drawback for a long time has been the profitablilty of mining these "thin vein" deposits. Today's NR shows that they have come a long way in dispelling the myth that it cannot be done. There isn't much merit in having a huge resource if it cannot be mined at a profit.
Interesting times ahead and for me at least a big increase in hope for what is to come.