10:27 AM EDT, 05/14/2024 (MT Newswires) -- Golden Minerals ( AUMN ) said on Tuesday that its first-quarter net loss widened and that it needs US$6 million to US$8 million to meet its expected obligations until March 31, 2025. The miner reported a net loss of US$4.6 million, or US$0.32 per share, compared with a net loss of US$3.3 million, or US$0.47 per share.

Revenue from discontinued operations was US$1.2 million, which included sales of concentrate, slag material and dore from the Velardena discontinued operations in Mexico. The company halted the mine as its performance missed expectations.

This compares with revenue of US$4.2 million in the first quarter of 2023, which was related to the sale of metals in dore from the Rodeo mine in Mexico.

The company's share price at last look fell more than 5% to $0.70 per share on the TSX.

Price: 0.70, Change: -0.04, Percent Change: -5.41