Last year, NIA introduced you to Golden Arrow Resources (TSXV: GRG) the silver explorer that owns the most extensive land package of silver exploration projects in all of Argentina. We told you that in October 2015, GRG had signed a major joint venture agreement with Silver Standard Resources (SSRI) – Argentina’s largest silver producer with a market cap of $1.3 billion!
We explained that after an 18 month period of pre-development activities, SSRI would have the ability to exercise an agreement that combines SSRI’s producing Pirquitas silver mine with GRG‘s Chinchillas silver project. GRG would receive 25% of the combined Pirquitas mine/Chinchillas project, with SSRI receiving the other 75%.
NIA is pleased to announce that SSRI has just exercised its option on GRG’s Chinchillas project to combine it with SSRI’s producing Pirquitas Mine into a single new operation!
GRG will now own 25% of Argentina’s largest producing silver operation! Already, GRG is owed $15 million from SSRI for Pirquitas earnings over the last 18 months (minus certain expenses) and will receive it when the deals closes on May 30th! Currently, GRG is trading for $0.80 per share but by the time the deal closes next month it could be trading for over $2 per share, in NIA’s opinion!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has been compensated by GRG $40,000 cash for a two-month investor relations contract and was previously compensated by GRG $50,000 cash for a previous two-month investor relations contract. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.