Golden Arrow Chairman's Update
Golden Arrow Chairman's Update
TSX Venture Exchange (TSX-V):
GRG
Frankfurt Stock Exchange (FSE):
G6A
OTCQB Venture Market (OTCQB):
GARWF
VANCOUVER
,
Nov. 14, 2018
/CNW/ -
Golden Arrow Resources Corporation (TSX-V: GRG,
FSE: G6A, OTCQB: GARWF), "Golden Arrow" or the "Company".
Figure 1 - Puna - Floatation Plant. (CNW Group/Golden Arrow Resources Corporation)
I would like to update our investors, that
Golden Arrow
is currently on track to deliver exceptional
growth in value for our shareholders. Despite the current softness in the mining markets, our
Company has been busy executing on a strategy that is delivering value on two fronts:
production
and
exploration.
Production – Puna Operations Inc.
Please see Figure 1.
After successfully completing the combination of our Chinchillas Silver Deposit with SSR Mining Inc.'s
production plant into a new entity, Puna Operations Inc., I am proud to report that Chinchillas
remains on track to go into full-scale commercial production before the end of this year. This
combination that utilizes the existing operation plant represents tremendous savings in capex and
time to production.
The Chinchillas integration remains on budget (see SSR Mining news release dated
November 8,
2018
), as most of the capex has already been paid. For
Golden Arrow's
25% share, this represents
a contribution of approximately
$13M
(out of a total of
$20.1M
). For the balance of costs,
Golden
Arrow
is fully financed to meet this obligation through our credit agreement with SSR Mining.
Exploration – New Golden Explorations Inc.
Golden Arrow's
100% owned exploration subsidiary, New Golden Explorations, has been focused on
acquiring advanced stage exploration projects with the potential to deliver sizable added share value.
After extensive review of many prospects, we have recently announced the acquisition of the Indiana
Gold-Copper and the Atlantida Copper-Gold projects. Both of these projects are capable of quickly
defining and increasing their respective resources.
Funding to advance New Golden is being sought through venture capital and private equity funds.
This financing would be directly into New Golden. Because of our recent acquisitions and our plan to
continue reviewing potential additional projects, we are reviewing
Golden Arrow's
future financing
requirements.
Exploration Pipeline
Please see Figure 2.
This update is intended to re-iterate to our shareholders that
Golden Arrow
represents outstanding
value for growth both through our imminent cash flow and through exploration discovery. I feel the
market does not fully appreciate the potential imbedded in our Company. But as we embark on this
two pronged strategy,
Golden Arrow
is poised to be a standout winner.
About
Golden Arrow
:
Golden Arrow Resources Corporation is an exploration company earning production income. The
Company has a successful track record of creating value by making precious and base metal
discoveries and advancing them into exceptional deposits.
Golden Arrow
owns a 25% share of Puna
Operations Inc., a joint venture operated by SSR Mining, with more than 8 years of forecast
production and upside potential at the Pirquitas -Chinchillas silver mining project.
Golden Arrow
is
actively exploring a new portfolio of advanced projects in
Chile
, as well as other targets within its
portfolio of more than 200,000 hectares of properties in Argentina. The Company is a member of the
Grosso Group, a resource management group that has pioneered exploration in
Argentina
since
1993.
ON BEHALF OF THE BOARD
"Joseph Grosso"
_______________________________
Mr.
Joseph Grosso
,
Executive Chairman, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release may contain forward-looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such statements. Readers are encouraged
to refer to the Company's public disclosure documents for a more detailed discussion of factors
that may impact expected future results. The Company undertakes no obligation to publicly update
or revise any forward-looking statements. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors
are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on
our properties.
Figure 2 - Exploration Pipeline. (CNW Group/Golden Arrow Resources Corporation)
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For further information:
Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-
0058, Email: [email protected]
CO: Golden Arrow Resources Corporation
CNW 09:30e 14-NOV-18