Golden Minerals Co. is undertaking an at-the-market offering to raise gross proceeds of up to US$5 million, with H.C. Wainwright & Co. LLC acting as sales manager.
Under the agreement, the Colorado-based company can sell common shares through Wainwright until the earlier of either Dec. 31, 2018, or the termination of the sales agreement.
Shares will be distributed at current prevailing market prices, according to Golden Minerals' Dec. 20 statement.
The company will use the proceeds for new and ongoing exploration, for potential acquisitions, and for general corporate and working capital purposes.
Golden Minerals is focused on acquiring and advancing properties in Mexico near its Velardena silver-gold-lead-zinc operation, which was put on care and maintenance in late 2015.