Golden Arrow Resources (TSXV: GRG; OTCQB: GARWF) has jumped from an explorer to a silver producer in Argentina in a fairytale-esque way.
It will receive a 25% stake in
Silver Standard Resources’ (TSX: SSO; NASDAQ: SSRI) producing Pirquitas mine, take home a US$15 million cheque, and fast track production of its flagship Chinchillas project in a joint-venture deal expected to close shortly.
“It’s a Cinderella story,” Joseph Grosso, Golden Arrow’s chairman, president and CEO, says in an interview. “And we are just entering the ballroom.”
The unique Golden Arrow-Silver Standard agreement – inked in late 2015 and confirmed this March – will spinout only two assets: the Chinchillas silver-lead-zinc project and the Pirquitas silver-zinc mine, sitting 42 km apart in Jujuy province, into a separate private company. The 75-25 joint venture will have majority owner Silver Standard as the operator.
Continue reading at The Northern Miner.
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