Buenos Aires, March 2 (NA) – Chinese company Shandong Gold Mining (Hong Kong) Co., Limited reported that it contributed $51.7 million to Golden Arrow Resources Argentina S.A. and now controls 75% of its share capital. The capital increase, decided by the extraordinary assembly of the Argentine mining company in February 2024, was implemented through the issuance of 3,452,041 new preferred shares in favor of the Chinese partner, as confirmed by the Argentine News Agency. According to information obtained by the Argentine News Agency, the operation is part of a shareholder agreement between Shandong Gold and Golden Arrow Resources Corporation, which retains the remaining 25% of the company that develops gold and associated metals exploration and exploitation projects. The contributed capital will be allocated to finance mining activities in Argentina and strengthens the presence of the Chinese state-owned group Shandong Gold in the local gold sector, where it already participates in other projects in the exploration stage.
