Golden Minerals closes US$3.67M placement to fund Argentina drilling
What's the deal? Golden MineralsDealroom has a profile for this one. Try Dealroom → has closed a non-brokered private placement raising US$3.67M, issuing 17,857,143 units at US$0.21 each. Each unit pairs one common share with half a warrant exercisable at US$0.33 within 24 months.
Why now? The company has no revenue-producing operations and had warned it could run out of funds without new capital. Proceeds are expected to cover forecast costs through the end of 2027, including a July 2027 option payment for its Desierto project.
What's the endgame? The cash funds Golden's first 1,250m drill program at the Sarita Este/Desierto project in Argentina, which began in October, with results expected in the first quarter of 2027. "The funds we raised allow us to advance, and secure our interest in, our exciting Desierto project in Argentina," said chief executive officer David Watkins.
Haywood SecuritiesDealroom has a profile for this one. Try Dealroom → acted as finder, earning US$212.5K in cash fees and 1,035,000 finder's warrants. Remaining proceeds will reduce liabilities and cover working capital.
What could go wrong? The raise is a lifeline, not a growth round. It issues roughly 17.9 million shares plus warrants, making dilution material, and the Toronto Stock Exchange has placed Golden under a delisting review, with a committee meeting set for March 3, 2027.
The signal: The placement buys Golden time but little certainty. Its future hinges on whether the Desierto drilling yields credible prospects and whether the company can hold its listing and secure longer-term funding.
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