Golden Minerals Co (NYSE: AUMN), a junior precious metal miner, is today’s top stock that gained strong share price momentum on its plans to restart mining at its Velardena properties in Mexico in July. The company’s shares gained over 32% during the last two consecutive trading days with a greater than average number of shares exchanging hands. In the last trading session, AUMN was the top performer in the U.S. diversified mining sector after powering 38.2% higher and ended at $1.30 while recording huge volumes of 3.0 million shares. During the last 5-trading session, the stock climbed 88.4% with 5-day daily average trading volumes of 969,591 shares, while the stock accumulated over 119% during the past one month with daily average trading volumes of 252,217 shares. The stock has rallied of over 175% year-to-date.
The stock rallied after AUMN announced its plans to restart mining at its Velardena Properties located in Durango State, Mexico in July 2014. Once mining and processing are ramped up to 285 metric tons/day of sulfide ore in mid-2015, the company expects output of 1 – 1.2 million silver equiv. oz. per year. AUMN expects to produce payable metals of 150,000 oz. of silver equivalents at the beginning of Q4 and further increasing to 275,000 oz. per quarter in mid-2015 when the ramp-up is completed.
Company Description:
Golden Minerals Co (NYSE: AUMN) is a mining company with a focus on exploration, development, providing mining services, and growth through strategic business transactions. The company manages the San Cristobal silver and zinc mine in Bolivia.
1-Year Stock Chart:
Source: Bloomberg
