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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 PM resource now $38.312 billion

Another $3 to the silver price should put us over $40 billion. At today's close our market cap is $292.83 million so our resource is currently 130.8 times more valuable than our market cap not including lead and zinc. Before 2008, the miners were valued based on resource. From 2008 thru 2010 they were valued based on access to capital. Since 2010 they are valued based on profit. Valuing based on profit is short sighted though since many of the silver miners only have a couple of years of mineralized veins left. Due to booming silver industrial demand, silver is never going to be in surplus at anything under $40 silver again. At these prices, and demand rates, the game is going to be resource again and my guess is soon. Perfect time to be coming out with drill results. With our silver resource potential of 619 million ounces of silver based on 2007 exploration and metal prices, we could mine 20 million ounces per year for 31 years.

Category Gold Ounces Silver Ounces Gold Value Silver Value Total Value
$1486.40/oz $43.05/oz
Measured, Indicated
and Inferred (1) 2,052,000 151,528,000
Min Potential (2) 3,793,838 277,499,807
Max Potential (3) 5,775,021 468,169,196
(1 + 2) 5,845,838 429,027,807 $8.689 Bil $18.470 Bil $27.159 Bil
(1 + 3) 7,827,021 619,697,196 $11.634 Bil $26.678 Bil $38.312 Bil
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