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Golden Minerals Company (NYSE-A: AUMN, TSX: AUMN) has received notice from NYSE American to commence delisting proceedings due to non-compliance with stockholders’ equity requirements. The company failed to maintain the required $6.0 million in stockholders’ equity while reporting losses from continuing operations and/or net losses in its five most recent fiscal years.
Trading of Golden Minerals’ common stock will transition to the OTC Pink Market under the symbol ‘AUMN’ starting December 16, 2024. The company is applying for quotation on the OTCQB® Venture Market. This transition will not affect its Toronto Stock Exchange listing or business operations, and shareholders can continue trading through existing brokerage accounts.
Golden Minerals Company (NYSE-A: AUMN, TSX: AUMN) ha ricevuto una comunicazione dalla NYSE American per avviare le procedure di delisting a causa della non conformità con i requisiti di capitale degli azionisti. L’azienda non è riuscita a mantenere i 6,0 milioni di dollari richiesti in capitale degli azionisti, pur segnalando perdite dalle operazioni continuative e/o perdite nette nei suoi cinque ultimi esercizi fiscali.
Il trading delle azioni ordinarie di Golden Minerals passerà al mercato OTC Pink con il simbolo ‘AUMN’ a partire dal 16 dicembre 2024. L’azienda sta facendo richiesta per la quotazione sul mercato OTCQB® Venture. Questa transizione non influenzerà la sua quotazione alla Borsa di Toronto né le operazioni aziendali, e gli azionisti potranno continuare a negoziare attraverso i conti di intermediazione esistenti.
Golden Minerals Company (NYSE-A: AUMN, TSX: AUMN) ha recibido un aviso de NYSE American para iniciar los procedimientos de deslistado debido al incumplimiento de los requisitos de capital de los accionistas. La empresa no logró mantener los 6,0 millones de dólares requeridos en capital de los accionistas, mientras reportaba pérdidas de operaciones continuas y/o pérdidas netas en sus cinco años fiscales más recientes.
La negociación de las acciones ordinarias de Golden Minerals se trasladará al mercado OTC Pink bajo el símbolo ‘AUMN’ a partir del 16 de diciembre de 2024. La empresa está solicitando cotización en el mercado OTCQB® Venture. Esta transición no afectará su cotización en la Bolsa de Toronto ni las operaciones comerciales, y los accionistas podrán continuar operando a través de las cuentas de corretaje existentes.
골든 미네랄스 컴퍼니 (NYSE-A: AUMN, TSX: AUMN)는 NYSE 아메리칸으로부터 주주 자본 요건을 준수하지 않아 상장 폐지 절차를 시작하라는 통지를 받았습니다. 이 회사는 최근 5개 회계 연도 동안 지속적인 운영 손실 및/또는 순손실을 보고하면서 필요한 6백만 달러의 주주 자본을 유지하지 못했습니다.
골든 미네랄스의 보통주 거래는 2024년 12월 16일부터 ‘AUMN’ 기호로 OTC 핑크 시장으로 전환됩니다. 이 회사는 OTCQB® 벤처 시장에서의 상장을 신청하고 있습니다. 이 전환은 토론토 증권 거래소의 상장이나 사업 운영에 영향을 미치지 않으며, 주주들은 기존 중개계좌를 통해 거래를 계속할 수 있습니다.
Golden Minerals Company (NYSE-A: AUMN, TSX: AUMN) a reçu une notification de NYSE American pour commencer la procédure de désinscription en raison de la non-conformité aux exigences en matière de capital des actionnaires. L’entreprise n’a pas réussi à maintenir les 6,0 millions de dollars requis en capital des actionnaires tout en rapportant des pertes des opérations continues et/ou des pertes nettes au cours de ses cinq derniers exercices fiscaux.
La négociation des actions ordinaires de Golden Minerals sera transférée au marché OTC Pink sous le symbole ‘AUMN’ à partir du 16 décembre 2024. L’entreprise demande à être cotée sur le marché OTCQB® Venture. Cette transition n’affectera pas son inscription à la Bourse de Toronto ni ses opérations, et les actionnaires pourront continuer à négocier par le biais de leurs comptes de courtage existants.
Golden Minerals Company (NYSE-A: AUMN, TSX: AUMN) hat eine Mitteilung von NYSE American erhalten, um die Verfahren zur Delistung einzuleiten, aufgrund von Nichteinhaltung der Eigenkapitalanforderungen. Das Unternehmen konnte die erforderlichen 6 Millionen US-Dollar an Eigenkapital nicht aufrechterhalten, während es in den letzten fünf Geschäftsjahren Verluste aus fortgeführten Aktivitäten und/oder Nettoverluste gemeldet hat.
Der Handel mit den Stammaktien von Golden Minerals wird ab dem 16. Dezember 2024 auf den OTC Pink Market unter dem Symbol ‘AUMN’ verlagert. Das Unternehmen beantragt die Notierung im OTCQB® Venture Market. Dieser Übergang wird die Notierung an der Toronto Stock Exchange oder die Geschäftstätigkeit nicht beeinträchtigen, und die Aktionäre können weiterhin über bestehende Brokerage-Konten handeln.
Positive
- Maintains listing on Toronto Stock Exchange
- Will continue SEC reporting compliance
- Shareholders can trade through existing brokerage accounts
Negative
- Delisting from NYSE American due to non-compliance with equity requirements
- Reported losses from continuing operations in last five fiscal years
- Failed to maintain required $6.0M stockholders’ equity
- Downgrade to less prestigious OTC Pink Market
Insights
The NYSE American delisting represents a significant setback for Golden Minerals, highlighting severe financial distress with stockholders’ equity falling below critical thresholds. The transition to OTCQB, while maintaining trading capability, typically results in reduced liquidity, institutional investor interest and potentially higher trading costs. The company’s continued losses and inability to maintain NYSE American’s financial requirements suggest fundamental operational challenges. While the dual listing on TSX provides some stability, the delisting from NYSE American may further complicate capital raising efforts and reduce market visibility. The move to OTC markets often signals increased investment risk and could lead to additional selling pressure as some institutional investors may be restricted from holding OTC securities.
This delisting notice reflects broader challenges in the junior mining sector, particularly for companies with sub-$5M market capitalizations. The transition to OTCQB will likely impact trading dynamics, with expected wider bid-ask spreads and potentially lower trading volumes. Historical patterns show that companies moving from major exchanges to OTC markets typically experience a 20-30% decline in market value during the transition period. The maintenance of TSX listing provides a silver lining, offering continued access to Canadian capital markets, though the overall market perception and accessibility to U.S. investors will be diminished significantly.
GOLDEN, Colo.–(BUSINESS WIRE)– Golden Minerals Company (“Golden Minerals,” “Golden” or the “Company”) (NYSE-A: AUMN and TSX: AUMN) today announced that it has received notification from the NYSE American LLC (the “NYSE American” or the “Exchange”) that the Exchange determined to commence proceedings to suspend and delist the Company’s common stock as a result of its determination that the Company is no longer suitable for listing due to its non-compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide, which require the Company to report stockholders’ equity of $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years, as previously reported.
The Company anticipates that the Common Stock will begin trading on the OTC Pink Market under the symbol “AUMN” at the open of business on December 16, 2024. Shareholders do not need to take any action in connection with this transition. The Company’s stock will continue to be traded first on the NYSE American and immediately thereafter on the OTC Pink Market, and investors should be able to trade shares through their existing brokerage accounts.
The Company is in the process of applying for quotation of its common stock on the OTCQB® Venture Market. The transition of the Company’s common stock to the OTC Markets will have no effect on the Company’s business or operations or its listing on the Toronto Stock Exchange, where it trades under ticker symbol “AUMN.” The Company expects to continue to maintain compliance with the reporting requirements of the Securities Act of 1934, as Amended, including the filing of periodic reports with the SEC under applicable federal securities laws that are available on the SEC’s website at www.SEC.gov.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, such as statements regarding (i) timing of the NYSE American’s delisting and appeal procedures; (ii) the timing of the Company’s transition to the OTC Pink Markets; (iii) results of the Company’s application for quotation on the OTCQB; and (iv) the Company’s continual compliance with applicable SEC reporting requirements. These statements are subject to risks and uncertainties, including whether the Company will meet the eligibility requirements for quotation on the OTCQB; the inability of the Company to obtain sufficient capital to meet its obligations; increases in costs and declines in general economic conditions; changes in political conditions, in tax, royalty, environmental and other laws in the United States, Mexico or Argentina and other market conditions; and fluctuations in silver and gold prices. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the Securities & Exchange Commission by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
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For additional information, please visit http://www.goldenminerals.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241206166798/en/
Golden Minerals Company
(303) 839-5060
Source: Golden Minerals Company
FAQ
Why is Golden Minerals (AUMN) being delisted from NYSE American?
Golden Minerals is being delisted due to non-compliance with NYSE American’s stockholders’ equity requirements and reporting losses in its five most recent fiscal years.
When will Golden Minerals (AUMN) start trading on OTC Pink Market?
Golden Minerals will begin trading on the OTC Pink Market under symbol AUMN on December 16, 2024.
Will Golden Minerals (AUMN) continue trading on Toronto Stock Exchange?
Yes, Golden Minerals will continue trading on the Toronto Stock Exchange under the symbol AUMN, unaffected by the NYSE American delisting.
Do shareholders need to take action due to AUMN’s market transition?
No, shareholders do not need to take any action and can continue trading shares through their existing brokerage accounts.
