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Golden Minerals sells 2 Mexico properties to Industrias Peñoles unit for US$3.0M

Golden Minerals Co. said Dec. 20 that it sold its non-strategic Mogotes and Pistachon exploration properties in Mexico to a subsidiary of Industrias Peñoles SAB de CV for US$3.0 million.

The properties are near Golden Minerals' Velardeña properties in Durango State and adjacent to mineral concessions controlled by Industrias Peñoles' subsidiaries.

None of the claims contain any identified mineral resources, Golden Minerals said, adding that the cash received will aid in advancing exploration projects in Mexico and Nevada.