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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: ECU Silver Reports on Gold and Silver Operations for January 2010

I also think we are positive with cash flow.

$Value@ Gold@$1000 Silver@$16 MonthlyTotal
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Oct $631000 $553216 $1,184,216
Nov $584000 $233168 $817168
Dec $592000 $228352 $820352
Jan (only oxide) $472,000 $423,520 $895520
Jan (sulphide ) $30,000 $295936 $325936
Jan total for both mills $1,221,456

My $ total is lower because I use actual gold price instead of silver equivalent. Also I derate the metal prices a bit because we never get market prices. Equivalent is fine for publicity purposes but you can not sell equivalents, so it misrepresents actuals.

Nice improvement in $ value. Nice going and Thanks management. Ed.

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