Golden Minerals Co (NYSEMKT:AUMN) recently announced the preliminary results, when it comes to the economic assessment, based on the Santa Maria project, which is a silver and gold project, which is located in Mexico.
More specifically, this project will take place in Santa Barbara in the Chihuahua State. This project is essential for improving the development of mineral resource extraction efficiency in this region. However, it is still governed according to various regulations.
What regulations this project is required to adhere to
The base-guidelines, which the business is required to follow is outlined by the PEA, which is an updated national instrument, designed for this specific purpose. This was a compliant mineral resource estimate dated as of February 15, 2017,
There are a widevariety of parameters, which the PEA guidelines, require businesses to adhere to before they are capable of proceeding with their plans. However, the President and CEO of Golden Minerals, Warren Rehn has revealed that the company believes it has managed to adhere to the results of the PEA guidelines.
Furthermore, Rehn explained how the company expects a vast expanse of minerals, to be derived from this site. Including a total value of one million silver equivalent ounces each year. Not only, is this expected to aid the company’s cash flow, but also to greatly improve the company’s Nasdaq stock holdings?
Future plans for Golden Minerals
However, Golden Minerals is not, yet ready to implement this huge profit boost plan. This is due to the company being required to further work on optimizingoperations and meeting various regulations, which have been set out by the PEA.
This includes the company applying for various permit applications, some of which, have already been submitted. All of which, will be required by the company in order to proceed with operations. The company also announced that they are busy developing plans to broaden the exploration scale of the minerals, to which the company excavates.