Golden Arrow Resources (GRG.v)(GARWF: OTCBB)
Maintain Buy up to: $1.12 Canadian $0.85 USD
Position sizing: 3%
Golden Arrow shares traded up last week and down over the past month.
Golden Arrow is now firmly allied in a joint venture with Silver Standard Resources. The new entity is owned on a 75%/25% basis by Silver Standard and Golden Arrow, respectively. Silver Standard will be the operator, and both companies are pushing development. At current silver prices, the operation is profitable for Golden Arrow. At higher silver prices, which we expect to see, this deal is a "gold mine" (so to speak).
Golden Arrow's share price is down from our entry point, but the company has passed a significant milestone with the Silver Standard deal. Looking ahead, I believe that we'll begin to see a major turnaround as gold-silver prices move upward as Jim forecasts.
Golden Arrow offers significant upside in a rising environment for gold-silver. Maintain buy on GARWF up to $0.85 per share.
Shawn Perger
Communications
Grosso Group Member Companies
BLUE SKY URANIUM- BSK.V
ARGENTINA LITHIUM AND ENERGY- LIT.V
GOLDEN ARROW RESOURCES CORPORATION - GRG.V
Office: . . . . .604-687-1828
Mobile: . . .. 778-686-0135
Toll Free: . .1-800-901-0058
Skype: . . . . . perger10
