Golden Minerals is replacing Pablo Castanos as president and CEO with David H. Watkins, a director since 2009, while both men remain on the board. The Leadership change matters to investors because the company also plans to detail a first-stage drill program for its Argentine projects and is evaluating a proposed property transaction.

Key Highlights

  • Pablo Castanos will remain a Golden Minerals director after leaving the president and CEO roles.
  • The company has not entered an employment agreement with David H. Watkins or determined his compensation.
  • Golden Minerals plans to announce details of a first-stage drill program targeting the Desierto concessions.

Golden Minerals Co. (OTC: AUMN) is replacing Pablo Castanos as president and chief executive officer with David H. Watkins, who has served on the board since 2009. Watkins will retain his board seat, while Castanos will also continue as a director after stepping down from the executive posts.

Watkins Takes Over Executive Leadership

David H. Watkins is an exploration geologist and has held senior roles with major Mining companies and junior exploration and development groups, according to the company. His earlier positions included chairman, executive chairman and chief executive officer of Atna Resources, as well as senior vice president of exploration at Cyprus Amax Minerals Company. Watkins holds geology degrees from Queen’s University at Kingston and Carleton University in Ottawa. Golden Minerals said Watkins has no family relationship with its other directors or executive officers. The company also said he has no reportable material interest in a transaction involving Golden Minerals. No employment agreement has been signed, and compensation for the appointment has not been determined.

Argentine Projects Await Drilling Details

Golden Minerals is planning a first-stage drilling program at the Desierto concessions in Argentina to test potentially deep mineralization. The company expects to provide the program’s details later in September. Golden Minerals said it expects to work with First Quantum if the transaction closes. The planned drilling is intended to test mineralization similar to that at First Quantum’s Taca Taca project, which is immediately north of Golden Minerals’ targets.