Quasi-IPO FILING: Golden Minerals Company (GDMN)

An initial public offering filing has been made by a company called Golden Minerals Company, although we would rate this as a quasi-IPO that looks more like a secondary offering and not a full blown IPO.  This trades under the ticker of “GDMN” on the Pink Sheets and trades under the ticker “AUM” on the Toronto Stock Exchange.  It plans to trade on the NYSE AMEX.  No financial terms were given other than a proposed maximum offering of $115,000,000.00 and Dahlman Rose & Company, LLC will serve as the sole book-running manager.

The offered shares will include shares to be issued by the company itself, and certain stockholders are expected to sell shares as well. Golden Minerals noted that it expects to use the net proceeds it receives from the offering to advance the El Quevar silver project in northwestern Argentina and to advance exploration of Golden Minerals’ portfolio of exploration properties.  The company also noted that traditional uses for working capital requirements or other general corporate purposes.

Golden Minerals is a Golden, Colorado-based company that operates as a Delaware company.  Its activities are in the advancement of its precious metals exploration projects and in providing mine management services.  It claims a portfolio of some 35 exploration projects, primarily in Argentina, Peru and Mexico.  The portfolio includes the “advanced stage El Quevar silver project” in the Salta Province of northern Argentina, and the company operates the San Cristobal mine in Bolivia for Sumitomo Corporation under a management services agreement.

More information about its stakes and its estimates findings are available at the www.goldenminerals.com website.

JON C. OGG
OCTOBER 15, 2009