Golden Minerals Co
For the period ended Dec 31, 2023. Filed Mar 19, 2024.
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FY2023 · Filed Mar 19, 2024
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Consolidated Statements of Operations
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended | ||||||
| · · December 31, | ||||||
| · 2023 · 2022 | ||||||
| | | (in thousands, except per share data) | ||||
| Revenue: | | | | | | |
| Sale of metals (Note 17) | | $12,002 | | $23,285 | ||
| Total revenue | | | 12,002 | | | 23,285 |
| Costs and expenses: | | | | | | |
| Cost of metals sold (exclusive of depreciation shown below) (Note 17) | | | (12,358) | | | (17,538) |
| Exploration expense | | | (3,401) | | | (9,617) |
| El Quevar project expense | | | (544) | | | (579) |
| Velardeña care and maintenance costs | | | (1,243) | | | (1,428) |
| Administrative expense | | | (4,659) | | | (4,496) |
| Stock-based compensation | | | (405) | | | (744) |
| Reclamation expense | | | (297) | | | (282) |
| Other operating income, net | | | 2,315 | | | 1,622 |
| Depreciation and amortization | | | (530) | | | (369) |
| Total costs and expenses | | (21,122) | | (33,431) | ||
| Loss from operations | | (9,120) | | (10,146) | ||
| Other income (expense): | | | | | | |
| Interest and other income (expense), net (Note 18) | | | 32 | | | (11) |
| Gain on foreign currency transactions | | | 121 | | | 339 |
| Litigation settlement (Note 20) | | | (250) | | | — |
| Total other (expense) income | | | (97) | | | 328 |
| Loss from operations before income taxes | | (9,217) | | (9,818) | ||
| Income taxes (Note 15) | | | (11) | | | (88) |
| Net loss | | $(9,228) | | $(9,906) | ||
| Net loss per common share - basic (1) | | $(1.08) | | $(1.49) | ||
| Weighted-average shares outstanding - basic (2) | | | 8,539,811 | | | 6,647,398 |
(2) Potentially dilutive shares have not been included for loss periods because to do so would be anti-dilutive. Potentially dilutive shares at December 31, 2023, consist of 400,409 equivalent shares related to stock compensation and 11,308,314 equivalent shares related to warrants outstanding. Potentially dilutive shares at December 31, 2022, consist of 440,209 equivalent shares related to stock compensation and 392,154 equivalent shares related to warrants outstanding. See Note 16 for a discussion of stock-based compensation and warrants.
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