At a time when tax loss selling is at its peak, Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) seems to have bottomed, and is regrouping after the sale of its interest in the Puna operation. New exploration projects have been acquired and exploration is on its way, and with a new focus on gold this time combined with a robust gold price, and by owning a large amount of SSR Mining shares, the company seems ready to generate interesting news starting in Q1 2020.
Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) recently ended the 7 year long Chinchillas adventure, by closing the deal involving selling its 25% interest in Puna Operations to SSR Mining (TSX: SSRM; NASDAQ: SSRM) on September 19, 2019. Despite a rising silver price since the announcement of the sale on July 22, 2019, and consequently growing unease among shareholders of Golden Arrow about the appropriate value of the Puna asset, no less than 94.62% of represented voting interest voted in favour of the transaction.
Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) surprised the markets with their sale of its 25% interest in Puna Operations to majority JV parter SSR Mining, right at a time where precious metals seemed to have left a bear market behind them.
Usually the standard modus operandi for juniors doing a financing revolves around three things if they can get the money: take it, take it and take it. Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) realized that raising the money in very negative sentiment in Q4, 2018, with tax loss selling projected to have significant impact last year for most companies and probably dragging along everything with it until mid December, wasn’t the smartest thing to do.
Although silver does not get much love lately, there are silver plays around that could move significantly as soon as the price of the metal recovers in more positive precious metals sentiment. One of these plays is Golden Arrow Resources (GRG.V,