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Golden Arrow Resources Corp. (TSXV:GRG) announced that it’s completed the option payments required to acquire 100 percent of its Argentina-based Chinchillas silver project.
Golden Arrow Resources Corp. (TSXV:GRG) announced that it’s completed the option payments required to acquire 100 percent of its Argentina-based Chinchillas silver project. The company’s final payment was US$900,000.
As quoted in the press release:
Management is very pleased to have been able to complete the acquisition of Chinchillas after having funded the aggressive advancement of Chinchillas both though private placements and alternative strategies such as shares-for-services agreements. The result for Golden Arrow shareholders has been an increase in share value by 15% over the last year, with an increase in market capitalization of over 60%1, while the S&P/TSX Venture Exchange Composite Index has declined by over 35%.
Moving forward, Management plans to continue to advance Chinchillas along the path to feasibility. Fiscal strategies will continue to include alternative financing arrangements, as well as the pursuit of strategic partnerships.
Joseph Grosso, president and CEO of Golden Arrow, commented:
We are very proud to have secured the Chinchillas project by making our final option payment to the vendors. It shows our commitment to the project, our shareholders and the community that we continue to advance the project in these difficult financial times by meeting our commitments on time.
Click here to read the full Golden Arrow Resources Corp. (TSXV:GRG) press release.