Shares in Golden Arrow Resources Corp (CVE:GRG) ticked higher Thursday as it revealed it had secured  a credit line for up to US$10mln from SSR Mining Inc.

The funding is purely for meeting Golden Arrow's funding requirements for its Puna operations joint venture in Jujuy, Argentina. Puna Operations Inc is the joint venture, which was formed to combine Golden Arrow's Chinchillas project with SSR's producing Pirquitas operation.

First ore delivery to Pirquitas mill  has been earmarked for the second half of 2018. Puna will produce lead, silver and zinc concentrates, eventually reaching planned life of mine annual average production of 8.4mln ounces of silver equivalent.

The non-revolving loan matures on the date which is the earlier of -  24 months after first delivery of ore to the Pirquitas mill or December 31, 2020.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

Part of the Stock Digest family of websites

Small Cap Stock Digest

MARKET SUMMARY

INDICES

Name Last Change
DOW 25850.60 0.40%
S&P 500 2774.88 0.35%
NASDAQ 7459.71 0.39%
TSX 16000.86 0.19%
TSX-V 621.61 0.00%

Resource Commodities

Name Last Change
Gold 1326.08 0.20%
Silver 15.88 0.44%
Copper 2.90 0.030
Platinum 829.00 0.19%
Oil 56.96 0.35%
Natural Gas 2.70 2.26%
Uranium 28.70 0.00%
Zinc 1.22 0.00%

@RSDigest ON TWITTER