Golden Minerals Company reported a cash and cash equivalents balance of $1.7 million as of September 30, 2025, down from $3.2 million at December 31, 2024. Exploration expenses for the nine months ended September 30, 2025, were $0.3 million, compared to $0.5 million a year earlier. Administrative expenses were $1.9 million, down from $3.0 million for the same period in 2024. Loss from discontinued operations, net of taxes, was $0.5 million, compared to $3.3 million in the prior year period. Cash inflows during the period included $1.2 million from the sale of Velardeña Plant 2 and water wells, and $0.6 million from the sale of Minera de Cordilleras. At September 30, 2025, current assets stood at $2.0 million, with accounts payable and other current liabilities totaling $4.3 million, including $3.0 million in deferred revenue from the sale of the Velardeña oxide plant and water wells. The company does not currently have sufficient resources to meet expected cash needs for twelve months beyond the report date. In January 2025, Golden Minerals exercised its option to earn a 60% interest in the Sand Canyon Project in Nevada, with joint venture documentation in progress and no drilling planned for 2025.