Golden Arrow teams up with Silver Standard in Argentina

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.