Golden Arrow Resources (GRG:TSXV) moved 23% higher to close at $1.11 per share Thursday.
This junior exploration stock has been on fire in 2016, hitting one high after the next. More than 800,000 shares exchanged hands Thursday, the company’s most liquid trading day since August 2nd when over 1 million shares traded. Averaging more than half a million shares per day, Golden Arrow is now among the most liquid junior mining stocks on the exchange. How did it happen?
Golden Arrow and Silver Standard target Argentina Silver
Golden Arrow’s top priority, according to the company’s July 11th press release, will be to “…continue working with Silver Standard who is working diligently toward the feasibility of integrating the two projects, Chinchillas and Pirquitas Mine.”
Silver Standard added considerable value to the Chinchillas Silver project during the past few years, according to Golden Arrow.
Focusing in Argentina, Golden Arrow believes,
“The resurgence of the price of silver which is encouraging new production economies, plus the significant tax reduction by the Government of Argentina, is re-opening the country as a leading destination for new investment.”
Click here to read more of the July 11th press release.
The Company announced that it had entered into an option agreement to acquire a 100% interest in the Antofalla project, a silver and base metals project located in Catamarca Province, Argentina.
Despite trading for less than $0.20 in January of this year, Golden Arrow closed a CAD$0.75 per share private placement for gross proceeds of CAD$6,765,000 on July 29th.
Golden Arrow hit a 52-week high of $1.48 on August 2nd.
Lastly, “Golden Arrow’s plan during this mining industry market turnaround is to maximize value on all fronts by: continuing the search and review of exciting new projects for acquisition or merger; continuing the development of well-located properties already held by the Company in Argentina; and, the advancement of its Chinchillas project to production.”
Click here to read more of the company’s July 11th press release.
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Golden Arrow rebounds with TSX Venture
After a Wednesday that awakened nightmares of 2015-style sell-offs on the TSX Venture, the exchanged surged 1.57% to close at 801.93 Thursday.
New Pinnacle member ‘valueseekercanada‘ selected Golden Arrow for August’s Stock Challenge and moved up the ranks to 42nd overall. His return sat at 6.82% Thursday. valueseekercanada is participating in just his 5th Stock Challenge.
All Challengers will be chasing member ‘wtanchak’ and his 70.40% return…
The long-time member is going after his first-ever Stock Challenge victory. There are just four days remaining in August’s Stock Challenge.
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