黄金矿业 2024年度报告

(Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF1934 For the fiscal year endedDecember31, 2024 For the transition period fromtoCommission file number1-13627GOLDEN MINERALS COMPANY(Exact Name of Registrant as Specified in its Charter)DELAWARE26-4413382(State of Incorporation or Organization)(I.R.S. Employer Identification No.) (303)839-5060(Registrant’s telephone number, including area code) Securities registered pursuant to Section12(b)of the Act: None Securities registered pursuant to Section12(g)of the Act:Common Stock, $0.01 par value(Title of Class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes◻No⌧ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act.Yes◻No⌧ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)hasbeen subject to such filing requirements for the past 90days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant wasrequired to submit such files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☒Smallerreportingcompany☒Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by checkmark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates as of June 30, 2024 was approximately$5.67million, based on the closing price of the registrant’s common stock of $0.42 per share on the NYSE American LLC on June 30, 2024. Forthe purpose of this calculation, the registrant has assumed that its affiliates as of June 30, 2024 included all directors and officers and oneshareholder that held approximately 10% of its outstanding common stock. The number of shares of common stock outstanding on March 31, 2025was15,053,048. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement to be filed with the Securities and Exchange Commission pursuant toRegulation14A in connection with the 2025 Annual Meeting of Stockholders are incorporated by reference in PartIII of this Annual Report onForm10-K. GOLDEN MINERALS COMPANYFORM 10-KYEAR ENDED DECEMBER 31, 2024 INDEX PART IITEM 1AND ITEM2BUSINESS AND PROPERTIES7ITEM 1ARISK FACTORS23ITEM 1BUNRESOLVED STAFF COMMENTS34ITEM 1CCYBERSECURITY34ITEM 3LEGAL PROCEEDINGS34ITEM 4MINE SAFETY DISCLOSURES35 PART IIITEM 5MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITYSECURITIES36ITEM 6RESERVED36ITEM 7MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS36ITEM 8FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA42ITEM 9CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE43ITEM 9ACONTROLS AND PROCEDURES43ITEM 9BOTHER INFORMATION44ITEM 9CDISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTIONS44 PART IIIITEM 10DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE45ITEM 11EXECUTIVE COMPENSATION45ITEM 12SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHO