Categories: Precious Metals
Topics: General Precious Metals

Golden Arrow Resources could become the silver major in Argentina, says analyst

Golden Arrow Resources could become the silver major in Argentina, says analyst

Golden Arrow, which is the main vehicle of the Grosso Group - a pioneer in Argentinian mining - struck a business combination agreement with Silver Standard in late 2015.

Research house Hallgarten & Company has started coverage on Argentina-focused mining play Golden Arrow Resources Corp (CVE:GRG) with a long position and a 12 month price target of C$1.45.

The current share price in Toronto is C$0.82 by way of comparison.

It could become the silver major in Argentina if its combination with Silver Standard goes ahead, reckons analyst Christopher Ecclestone.

Golden Arrow, which is the main vehicle of the Grosso Group - a pioneer in Argentinian mining - struck a business combination agreement with Silver Standard in late 2015 to jointly develop the the former's Chinchillas project and "an agreement to combine the producing Pirquitas Mine and the Chinchillas project, located approximately 35 kilometres apart in Jujuy Province of Argentina, into a single new operation".

The ultimate goal of is to form a Newco, to be managed by Silver Standard, that shall be owned 75% by Silver Standard and 25% by a new entity to be owned by the existing shareholders of Golden Arrow.

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