Edgar Filing: Golden Minerals Co

	UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. )*

Golden Minerals Company

(Name of Issuer)

Common Stock

(Title of Class of Securities)

381119106

(CUSIP Number)

March 24, 2009

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o	Rule 13d-1(b)
x	Rule 13d-1(c)
o	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Global Opportunities Master Fund

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Cayman Islands, British West Indies

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) OO

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Investments Ltd.

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Cayman Islands, British West Indies

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) OO

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Investment Management Limited

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization United Kingdom

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) OO

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Investment Partners LLP

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization United Kingdom

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) PN

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Investment Partners LP

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) PN

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Investment Partners HK Limited

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Hong Kong

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) OO

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Polygon Investment Partners GP, LLC

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) OO

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Reade E. Griffith

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization United States

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) IN

CUSIP No. 381119106

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (Entities Only) Patrick G. G. Dear

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		x
		(b)		o

	3.	SEC Use Only

	4.	Citizenship or Place of Organization United Kingdom

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power 0

			6.		Shared Voting Power 507,009 (See Item 4(a))

			7.		Sole Dispositive Power 0

			8.		Shared Dispositive Power 507,009 (See Item 4(a))

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 507,009

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o

	11.	Percent of Class Represented by Amount in Row (9) 17.0%

	12.	Type of Reporting Person (See Instructions) IN

Item 1(a).	Name of Issuer: Golden Minerals Company (“Golden Minerals”).
Item 1(b).	Address of Issuer’s Principal Executive Offices: Walker House, Mary Street, George Town, Grand Cayman, Cayman Islands, British West Indies

Item 2(a).	Name of Person Filing
Item 2(b).	Address of Principal Business Office
Item 2(c).	Citizenship This Schedule 13G is filed on behalf of Polygon Global Opportunities Master Fund, Polygon Investments Ltd., Polygon Investment Management Limited, Polygon Investment Partners LLP, Polygon Investment Partners LP, Polygon Investment Partners HK Limited, Polygon Investment Partners GP, LLC, Mr. Reade E. Griffith and Mr. Patrick G. G. Dear (the “Reporting Persons”). Polygon Global Opportunities Master Fund (the “Master Fund”) c/o Polygon Investment Partners LLP 4 Sloane Terrace London SW1X 9DQ United Kingdom Citizenship: Cayman Islands, British West Indies Polygon Investments Ltd. (the “Investment Manager”) c/o Polygon Investment Partners LLP 4 Sloane Terrace London SW1X 9DQ United Kingdom Citizenship: Cayman Islands, British West Indies Polygon Investment Management Limited (“PIML”) c/o Polygon Investment Partners LLP 4 Sloane Terrace London SW1X 9DQ United Kingdom Citizenship: United Kingdom Polygon Investment Partners LLP (the “UK Investment Manager”) 4 Sloane Terrace London SW1X 9DQ United Kingdom Citizenship: United Kingdom Polygon Investment Partners LP (the “US Investment Manager”) 399 Park Avenue 22nd Floor New York, NY 10022 Citizenship: Delaware Polygon Investment Partners HK Limited (the “HK Investment Manager”) Unit 1501- 1502,15/F Cheung Kong Center 2 Queen’s Road Central Hong Kong Citizenship: Hong Kong

		Polygon Investment Partners GP, LLC (the “General Partner”) c/o Polygon Investment Partners LP 399 Park Avenue 22nd Floor New York, NY 10022 Citizenship: Delaware Reade E. Griffith (“Mr. Griffith”) c/o Polygon Investment Partners LLP 4 Sloane Terrace London SW1X 9DQ United Kingdom Citizenship: United States Patrick G. G. Dear (“Mr. Dear”) c/o Polygon Investment Partners LLP 4 Sloane Terrace London SW1X 9DQ United Kingdom Citizenship: United Kingdom
Item 2(d).		Title of Class of Securities: Common stock, par value $0.01 per share, of Golden Minerals (“Common Stock”).
Item 2(e).		Golden Common Stock has the following CUSIP number: 381119106.

Item 3.		Not Applicable.

Item 4(a).		Amount beneficially owned: As of March 24, 2009, each Reporting Person may be deemed to be beneficial owner of 507,009 shares of Common Stock (the “Shares”).
Item 4(b).		Percent of class: 17.0%
Item 4(c).		Number of shares as to which Reporting Persons have:
		(i)	Sole power to vote or direct the vote: 0
		(ii)	Shared power to vote or direct the vote: 507,009
		(iii)	Sole power to dispose of or to direct the disposition of: 0
		(iv)	Shared power to dispose of or to direct the disposition of: 507,009
		All of the Shares are directly held by the Master Fund. The Investment Manager, PIML, the UK Investment Manager, the US Investment Manager, the HK Investment Manager and the General Partner have voting and dispository control over securities owned by the Master Fund. Messrs. Griffith and Dear control the Investment Manager, PIML, the UK Investment Manager, the US Investment Manager, the HK Investment Manager and the General Partner.

Item 5.	Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.

Item 6.	Ownership of More than Five Percent on Behalf of Another Person
	Not Applicable.

Item 7.	Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company.
	Not Applicable.

Item 8.	Identification and Classification of Members of the Group.
	See Exhibit 1.

Item 9.	Notice of Dissolution of the Group.
	Not Applicable.

Item 10.	Certification.
	By signing below each of the undersigned certifies that, to the best of such person’s knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct.

Date: April 2, 2009	POLYGON GLOBAL OPPORTUNITIES MASTER FUND

	By Polygon Investment Partners LLP, its investment manager


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENTS LTD.


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT MANAGEMENT LIMITED


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT PARTNERS LLP


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT PARTNERS LP


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal

Date: April 2, 2009	POLYGON INVESTMENT PARTNERS HK LIMITED


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT PARTNERS GP, LLC


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009		/s/ Reade E. Griffith
		Reade E. Griffith


Date: April 2, 2009		/s/ Patrick G. G. Dear
		Patrick G. G. Dear

Exhibit Index

Exhibit 1 Identification of Members of the Group.

Exhibit 2 Joint Filing Agreement, dated as of April 2, 2009, by and among Polygon Opportunities Master Fund, Polygon Investments Ltd., Polygon Investment Management Limited, Polygon Investment Partners LLP, Polygon Investment Partners LP, Polygon Investment Partners HK Limited, Polygon Investment Partners GP, LLC, Reade E. Griffith and Patrick G.G. Dear.

Exhibit 1

Identification of Members of the Group

Polygon Global Opportunities Master Fund

Polygon Investments Ltd.

Polygon Investment Management Limited

Polygon Investment Partners LLP

Polygon Investment Partners LP

Polygon Investment Partners HK Limited

Polygon Investment Partners GP, LLC

Reade E. Griffith

Patrick G. G. Dear

Exhibit 2

Joint Filing Agreement

This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Common Stock, par value $0.01 per share, of Golden Minerals Company, a Delaware corporation, is being filed, and all amendments thereto will be filed, on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.


Date: April 2, 2009	POLYGON GLOBAL OPPORTUNITIES MASTER FUND

	By Polygon Investment Partners LLP, its investment manager


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENTS LTD.


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT MANAGEMENT LIMITED


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT PARTNERS LLP


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT PARTNERS LP


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal

Date: April 2, 2009	POLYGON INVESTMENT PARTNERS HK LIMITED


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009	POLYGON INVESTMENT PARTNERS GP, LLC


	By	/s/ Patrick G. G. Dear
		Name: Patrick G. G. Dear
		Title: Principal


Date: April 2, 2009		/s/ Reade E. Griffith
		Reade E. Griffith


Date: April 2, 2009		/s/ Patrick G. G. Dear
		Patrick G. G. Dear