In 2024, a supplier filed a lawsuit against certain Mexican subsidiaries of the Company for non-payment, seeking approximately $55,000. This amount was recorded in accounts payable as of December 31, 2024. All supplier-related liabilities were settled during the sale of the Mexican subsidiaries in 2025. The Company was also involved in a lawsuit initiated by Unifin Financiera, S.A.B. de C.V. against its Mexican subsidiary Minera William, S.A. de C.V. This dispute was resolved in late 2023, resulting in the court lifting the freeze on Minera William's bank accounts in early 2024 and the subsequent remittance of funds to Unifin in accordance with the settlement. Additionally, the Company was notified of an outstanding balance concerning the Rucio mining concession, originally requested by Minera de Cordilleras, a subsidiary sold in 2025. The Company chose not to pay the balance pending further investigation and initiated an annulment action for the concession in November 2025.
Golden Minerals Co's Comment on Supply Chain
In 2024, a supplier filed a lawsuit against certain Mexican subsidiaries of the Company for non-payment, seeking approximately $55,000. This amount was recorded in accounts payable as of December 31, 2024. All supplier-related liabilities were settled during the sale of the Mexican subsidiaries in 2025. The Company was also involved in a lawsuit initiated by Unifin Financiera, S.A.B. de C.V. against its Mexican subsidiary Minera William, S.A. de C.V. This dispute was resolved in late 2023, resulting in the court lifting the freeze on Minera William's bank accounts in early 2024 and the subsequent remittance of funds to Unifin in accordance with the settlement. Additionally, the Company was notified of an outstanding balance concerning the Rucio mining concession, originally requested by Minera de Cordilleras, a subsidiary sold in 2025. The Company chose not to pay the balance pending further investigation and initiated an annulment action for the concession in November 2025.
Sources:
Golden Minerals Co's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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