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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: GOG MD & A

GOG MD & A

posted on Apr 29, 2009 02:37PM

I wonder what this is about between ECU and GOG on the San Diego property.

"A total amount of $US797,038 was paid directly to the ECU Joint Venture in 2008. The total amount to date since commencement of the project in 2006 paid directly to the project is $US2,638,380. The total amount expended in on the project in Canadian dollars including associated expenses for the 2008 year and total to date is $927,765 and $2,982,949.

Details regarding the next phase of work to be completed on the project in 2009 has not been determined at this time.

Subsequent to the year-end the company became aware that its joint venture agreement (JVA) partner on the San Diego property is in breach of several covenants and representations made by it in the JVA. The matters are not in material dispute and the other party has advised the Company that it believes it will have these breaches rectified in the near future without cost or loss to the Company. The Company is monitoring the situation and may take legal action if the matters are not promptly resolved to its satisfaction. The Company, based on the response received from its JV partner on this matter at this time, does not believe that it is reasonable to expect that these breaches will cause a material loss to the Company."


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