John Finnick's questions to Golden Minerals (AUMN) leadership • Q2 2022
Question
John Finnick of Finnick Consulting asked for an expected timeline for assay results from Barrick's drilling at the El Quevar project and sought clarification on the significant discrepancy between the company's Net Present Value (NPV) calculation in its investor deck and a much lower valuation presented in a recent Seeking Alpha article.
Answer
President and CEO Warren Rehn stated that assay results from Barrick's drilling at El Quevar are expected by October at the latest. Regarding the valuation discrepancy, Rehn explained that the external analysis was flawed because it assigned zero value to the El Quevar resource and used outdated, lower metals prices, resulting in an inaccurate and considerably lower NPV compared to the company's own figures.