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THE CRITICAL INVESTOR NEWSLETTER #66

Dear subscriber,

Golden Arrow Resources has come at a pivotal point of its existence. Construction of its Chinchillas project as part of the Puna Operations JV with SSR Mining is almost complete, and the first trucks are already transporting ore to the Pirquitas Mine nearby. Test runs have been performed while processing two large batches, and successfully validated metallurgical performance. When ramping up to nameplate capacity starts, Golden Arrow is entitled to 25% of net cash flows, which should help them repay the currently drawn credit facility and hoard cash after that. A withdrawn private placement caused the share price to drop considerably, but there is sufficient fundamental value in my view to underpin the current market cap, and there is a lot of upside to metal prices, so I consider this a buying opportunity. Read more about it here:

Golden Arrow Resources: Rock Solid Leveraged Play On Silver

Regards,

The Critical Investor

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