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    Sid Rajeev

    Research Analyst at Fundamental Research Corp

    Sid Rajeev's questions to Golden Minerals (AUMN) leadership

    Sid Rajeev's questions to Golden Minerals (AUMN) leadership • Q3 2022

    Question

    Sid Rajeev from Fundamental Research Corp asked about the timeline for a production decision at Velardeña, the potential speed of ramp-up, and the estimated CapEx for the new BIOX plant. He also inquired about plans for a PEA following the Yoquivo maiden resource and the status of a resource update for Sarita Este.

    Answer

    President & CEO Warren Rehn projected a production decision for Velardeña by mid-2023, contingent on ore sorting test results. He stated production could start immediately post-decision, with the BIOX plant requiring about a year to build at an estimated cost of around $10 million, subject to inflation. Mr. Rehn confirmed plans to move directly to a PEA for Yoquivo after its Q1 resource release and noted that a resource for Sarita Este is likely next year but not imminent.

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    Sid Rajeev's questions to Golden Minerals (AUMN) leadership • Q2 2022

    Question

    Sid Rajeev from Fundamental Research Corp. asked for guidance on cash costs for the second half of the year, a breakdown of Q2 cost increases between macro and project-specific factors, preliminary estimates for the upcoming Yoquivo resource, and an updated production timeline for Velardena.

    Answer

    President and CEO Warren Rehn projected cash costs would decrease from Q2 levels. CFO Julie Weedman noted that while separating inflationary impacts is difficult, the primary driver for higher Q2 cash costs was lower ore grade. COO John Galassini estimated a three-to-six-month delay for the Velardena restart as the company evaluates alternative mining methods and ore sorting to address dilution.

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