- MOU signed facilitating further drilling at Golden Arrow Resources' Chinchillas silver project.
- Drilling contractor to accept shares as payment, at 6 times the current share price.
- Reinforces our bullish view of this junior explorer.
- Golden Arrow has released an updated PEA for its Chinchillas silver project showing compelling economics.
- Management has a history of selling mines to majors. Chinchillas is one of very few primary silver projects that work under current market conditions and represents a compelling M&A target.
- Golden Arrow is grossly undervalued and due for a re-rate.
- Country risk concerns for Argentina should subside in coming months providing further support for the share price.
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