Golden Arrow Resources (GRG.V) and SSR Mining (SSRM, SSR.TO), the 25/75 joint venture partners on the Pirquitas and Chinchillas projects have now received the approval of the Environmental Impact Assessment for the Chinchillas project. This means the final ‘hurdle’ has now been overcome and development is already underway.
The partners expect the first ore from the Chinchillas deposit to be processed in the Pirquitas mill in the second half of this year, where after the operations will ramp up to the planned production rate of 6.1 million ounces of silver, 12 million pounds of zinc and 35 million pounds of lead per year. This should result in an after-tax NPV of $178M using slightly a higher silver price (but a lower lead and zinc price).
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The author has a long position in Golden Arrow Resources. Please read the disclaimer
