Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canada’s Golden Arrow Resources (TSX-V: GRG) has terminated its option to acquire a 75% stake in the Libanesa silver-gold project in Argentina’s Santra Cruz province.
The company said it would focus instead on its new 100% owned San Pietro copper-gold-cobalt project in Chile and other projects in Argentina.
The 14,500-hectare Libanesa project, owned by Mirasol Resources (TSX-V: MRZ), is located about 70 km west from the port of Puerto Deseado and 40 km northwest of Yamana Gold’s Cerro Moro mine.
Golden Arrow conducted a detailed surface work program late last year to refine the previously defined targets and evaluate additional areas within the property.
In March, it kicked off a maiden diamond drilling program. Golden Arrow currently has six projects in Argentina and two in Chile.
