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Canadian Metals Explorer Now Offers 'Attractive Entry Point'

Streetwise Reports
0 Comments|October 15, 2018

A Fundamental Research Corp. report relayed this company's investment highlights.

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In an Oct. 9 research note, Fundamental Research Corp. analyst Siddarth Rajeev indicated that Golden Arrow Resources Corp.'s (GRG:TSX.V; GAC:FSE; GARWF:OTCQB) recent share price drop represents a current buying opportunity. Fundamental has a CA$0.98 per share fair value estimate on Golden Arrow; the company's stock price is now around CA$0.29 per share.

The average enterprise value:resource ratio of the other junior silver companies in Fundamental's coverage universe has decreased to CA$1.63 per silver equivalent ounce from CA$2.29 since May, when the research firm initiated coverage on Golden Arrow, due to the decrease in silver prices. Golden Arrow's shares are trading at CA$0.54 per ounce, much lower than the average.

Aside from its current valuation, Golden Arrow is an attractive investment, in part, Rajeev pointed out, due to its joint venture partnership, with SSR Mining, in Puna Operations Inc., which is composed of the Chinchillas and Pirquitas projects. Golden Arrow owns 25% of Puna; SSR owns 75%.

This year, 3 to 4.4 million ounces of silver are to be produced at Chinchillas, according to SSR Mining estimates. "GRG will receive a 25% share of the net profit," Rajeev emphasized. Ore from Chinchillas will be processed at Pirquitas, and that should begin soon.

Also, Golden Arrow owns the Antofalla project in Argentina, which recently yielded "encouraging" drill results, indicated Rajeev. They included 3 meters of 191 grams per ton silver, 1 meter of 283 grams per ton silver and 2.1% zinc.

Rajeev reiterated that Golden Arrow is rated Buy.

 

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Fundamental Research Corp., Golden Arrow Research Corp., October 9, 2018

The opinions expressed in this report are the true opinions of the analyst about this company and industry. Any “forward looking statements” are our best estimates and opinions based upon information that is publicly available and that we believe to be correct, but we have not independently verified with respect to truth or correctness. There is no guarantee that our forecasts will materialize. Actual results will likely vary. FRC and the Analyst do not own shares of the subject company. Fees were paid by GRG to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, GRG has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.

 


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