Subsequent Event

9 Months Ended

Sep. 30, 2019

Subsequent Events

Subsequent Event

24.      Subsequent Events

On October 16, 2019, the Company entered into an option to purchase agreement for the sale of the Company’s option to earn a 100% interest in the Santa Maria and Las Marias exploration properties to Magellan Gold Corporation.  The agreement provides for a period of up to 150 days for Magellan to complete due diligence and secure financing of not less than $2.0 million.  Under the terms of the agreement, if Magellan exercises its option, Magellan will make a cash payment of $1.0 million to Golden Minerals upon closing. Golden Minerals will retain a 6.5% NSR royalty from all production at Santa Maria until a total of $3.0 million has been paid to the Company. Thereafter, Golden will retain a 3.0% NSR royalty for the balance of the mine’s life.  The Company had previously expensed all costs associated with the two properties and will record income from the agreement as cash is received.