This article is about Golden Minerals (NYSEMKT:AUMN). In 2010 - 2011 Golden Minerals was flying high, trading above $20/share at one point. In June of 2011 the company purchased ECU Silver for roughly $300 million, and investors were under the impression that the company had a producing mine at Velardena with over 300 million silver equivalent ounces. However the company's fortunes quickly turned. When it had the Velardena NI 43-101 technical report updated the new results showed that the company had considerably less metal than it initially thought: less than 100 million ounces of silver overall, and about 68 million ounces of silver equivalents at Velardena. Seeing that the company still had ample silver to produce at Velardena...
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