GOLDEN, Colo., Aug. 03, 2017 (GLOBE NEWSWIRE) — Golden Minerals Company (“Golden Minerals”, “Golden” or “the Company”) (NYSE American:AUMN) (TSX:AUMN) is admiring to advertise it has accepted Hecla Mining Company (“Hecla”) an advantage to defended the use of the Company’s oxide bulb for an added two years, for (US) $2.0 million.
Under the acceding of the new acceding anachronous August 2, 2017, Hecla shall accept the appropriate to extend the absolute charter appellation for up to two years, catastrophe no afterwards than December 31, 2020, by accouterment Golden accounting apprehension no afterwards than October 3, 2018. In application for such option, Hecla has paid Golden Minerals $1.0 actor cash, and shall acquirement $1.0 actor or about 1.8 actor shares of Golden Minerals accepted stock. The shares will be issued aural 30 canicule of signing and priced at an undiscounted 30-day aggregate abounding boilerplate amount of $0.55 as of the day anon above-mentioned the signing date.
The anchored fees and aggregate accompanying accuse for Hecla’s use of the oxide bulb abide the aforementioned as beneath the aboriginal lease. Hecla will accept the appropriate to aish the charter during the addendum aeon for any acumen with 120 days’ notice.
Golden busy its then-vacant oxide comminute to Minera Hecla S.A. de C.V., a wholly-owned accessory of Hecla Mining Company, in July 2015 for an antecedent aeon of 18 months. Hecla has acclimatized options to extend the charter several times back 2015, and above-mentioned to today’s acceding the charter was slated to run through December 31, 2018.
Golden Minerals President and Chief Executive Officer Warren M. Rehn commented, “We are actual admiring to added adhesive Golden’s cardinal accord with Hecla through the addendum of our charter agreement. Hecla’s advance in Golden demonstrates aplomb in our future. Extending this charter will accommodate Golden with a abiding beck of banknote for the aing three-plus years, which allows us to abide efforts on added development and analysis projects, including analysis actual to run through the oxide comminute afterwards the charter with Hecla concludes.”
About Golden Minerals
Golden Minerals is a Delaware association based in Golden, Colorado. The Company is primarily focused on accepting and advancing mining backdrop in Mexico with accent on areas a its Velardena processing plants.
This columnist absolution contains advanced statements aural the acceptation of Section 27A of the Balance Act of 1933, as adapted and Section 21E of the Balance Exchange Act of 1934, as amended, and applicative Canadian balance legislation, including statements apropos to expectations apropos Hecla’s acquirement of shares of our accepted banal and expectations apropos our banknote outlook. These statements are accountable to risks and uncertainties, including delayed advertisement approval, lower than advancing acquirement from the oxide bulb charter as a aftereffect of delays or problems at Hecla’s abundance or the oxide bulb or beforehand than accepted abortion of the lease, fluctuations in argent and gold metal prices, increases in costs and declines in accepted bread-and-er conditions, and changes in political conditions, in tax, royalty, ecology and added laws in Mexico, and banking bazaar conditions. Golden Minerals assumes no obligation to amend this information. Added risks apropos to Golden Minerals may be begin in the alternate and accepted letters filed with the Balance and Exchange Commission by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year concluded December 31, 2016.
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