Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  POLYGON GLOBAL OPPORTUNITIES MASTER FUND
 2. Date of Event Requiring Statement (Month/Day/Year)
03/24/2009		 3. Issuer Name and Ticker or Trading Symbol
Golden Minerals Co [NONE]
(Last)
(First)
(Middle)
10 DUKE OF YORK SQUARE, 		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

LONDON, X0 SW34LY		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 507,009
D (1)
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
POLYGON GLOBAL OPPORTUNITIES MASTER FUND
10 DUKE OF YORK SQUARE
LONDON, X0 SW34LY		     X    
Polygon Investments Ltd.
UGLAND HOUSE
SOUTH CHURCH STREET
GEORGE TOWN, GRAND CAYMAN, E9 BWI		     X    
Polygon Investment Management LTD
C/O POLYGON INVESTMENT PARTNERS LLP
10 DUKE OF YORK SQUARE
LONDON, X0 SW3 4LY		     X    
Polygon Investment Partners LLP
10 DUKE OF YORK SQUARE
LONDON, X0 SW3 4LY		     X    
Polygon Investment Partners LP
399 PARK AVENUE
22ND FLOOR
NEW YORK, NY 10022		     X    
Polygon Investment Partners HK LTD
UNIT 1501-1502, 15/F CHEUNG KONG CENTER
2 QUEEN'S ROAD CENTRAL
HONG KONG, K3 HK		     X    
Polygon Investment Partners GP, LLC
C/O POLYGON INVESTMENT PARTNERS LP
399 PARK AVENUE, 22ND FLR.
NEW YORK, NY 10022		     X    
Reade E. Griffith
10 DUKE OF YORK SQUARE
LONDON, X0 SW3 4LY		     X    
Patrick G. G. Dear
C/O POLYGON INVESTMENT PARTNERS LLP
10 DUKE OF YORK SQUARE
LONDON, X0 SW3 4LY		     X    

Signatures

POLYGON GLOBAL OPPORTUNITIES MASTER FUND By: Polygon Investment Partners LLP, its investment manager; By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
POLYGON INVESTMENTS LTD. By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
POLYGON INVESTMENT MANAGEMENT LIMITED By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
POLYGON INVESTMENTS PARTNERS LLP By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
POLYGON INVESTMENT PARTNERS LP By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
POLYGON INVESTMENT PARTNERS HK LIMITED By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
POLYGON INVESTMENTS PARTNERS GP, LLC By: /s/ Patrick G. G. Dear, Principal 04/02/2009
**Signature of Reporting Person Date
/s/ Reade E. Griffith 04/02/2009
**Signature of Reporting Person Date
/s/ Patrick G. G. Dear 04/02/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This Form 3 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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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