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S-3 Filing
Golden Minerals (AUMN) S-3Shelf registration
Filed: 14 Nov 06, 12:00am
EXHIBIT 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
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| Nine Months |
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| Ended |
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| Fiscal the Year Ended December 31, |
| September 30, |
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| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2005 |
| 2006 |
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| (In thousands) |
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Earnings: |
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Net loss |
| $ | (8,584 | ) | $ | (8,654 | ) | $ | (6,044 | ) | $ | (18,845 | ) | $ | (66,675 | ) | $ | (51,366 | ) |
Add: Fixed charges |
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| 3,587 |
| 7,335 |
| 774 |
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Earnings as defined |
| (8,584 | ) | (8,654 | ) | (6,044 | ) | (15,258 | ) | (59,340 | ) | (50,592 | ) | ||||||
Fixed charges — Interest expense |
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| 3,587 |
| 7,335 |
| 774 |
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Ratio of earnings to fixed charges (1) |
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(1) For purposes of computing the ratio of earnings to fixed charges earnings consist of income from continuing operations before income taxes plus fixed charges. Fixed charges consist of interest expense. Earnings were insufficient to cover fixed charges by $8.6 million in 2001, $8.7 million in 2002, $6.0 million in 2003, $15.3 million in 2004, $59.3 million in 2005 and $50.6 million in the nine-month period ended September 30, 2006.