Golden Minerals Co ( (AUMN) ) has provided an update.
Golden Minerals Company has entered into a binding letter agreement with Butte Energy Inc. to sell its Argentine subsidiary Silex, owner of the El Quevar silver project, for $3.5 million to alleviate short-term financial pressures. The sale is part of broader efforts to improve liquidity, alongside actions like the recent sale of its Mexican subsidiary and pursuit of other asset sales or partnerships. The completion of the Silex transaction is subject to regulatory and board approvals and due diligence by Butte.
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