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Golden Arrow Resources

TSXV:GRG
Snowflake Description

Imperfect balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GRG
TSXV
CA$27M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Golden Arrow Resources Corporation, a natural resource company, engages in the acquisition, exploration, and development of precious and base metal projects in Argentina. The last earnings update was 29 days ago. More info.


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  • Golden Arrow Resources has significant price volatility in the past 3 months.
GRG Share Price and Events
7 Day Returns
2.4%
TSXV:GRG
4.5%
CA Metals and Mining
-0.7%
CA Market
1 Year Returns
-54.3%
TSXV:GRG
-0.6%
CA Metals and Mining
-2.2%
CA Market
GRG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Golden Arrow Resources (GRG) 2.4% -8.5% -28.3% -54.3% -72.1% -23.2%
CA Metals and Mining 4.5% 17.3% 4.1% -0.6% -13.2% -17.6%
CA Market -0.7% 0.2% 0.3% -2.2% 11.9% 0.9%
1 Year Return vs Industry and Market
  • GRG underperformed the Metals and Mining industry which returned -0.6% over the past year.
  • GRG underperformed the Market in Canada which returned -2.2% over the past year.
Price Volatility
GRG
Industry
5yr Volatility vs Market

Value

 Is Golden Arrow Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Golden Arrow Resources. This is due to cash flow or dividend data being unavailable. The share price is CA$0.215.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Golden Arrow Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Golden Arrow Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:GRG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$-0.16
TSXV:GRG Share Price ** TSXV (2019-06-26) in CAD CA$0.22
Canada Metals and Mining Industry PE Ratio Median Figure of 111 Publicly-Listed Metals and Mining Companies 14.47x
Canada Market PE Ratio Median Figure of 543 Publicly-Listed Companies 15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Golden Arrow Resources.

TSXV:GRG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:GRG Share Price ÷ EPS (both in CAD)

= 0.22 ÷ -0.16

-1.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Golden Arrow Resources is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Golden Arrow Resources is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Golden Arrow Resources's expected growth come at a high price?
Raw Data
TSXV:GRG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Metals and Mining Industry PEG Ratio Median Figure of 36 Publicly-Listed Metals and Mining Companies 0.79x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Golden Arrow Resources, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Golden Arrow Resources's assets?
Raw Data
TSXV:GRG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$0.33
TSXV:GRG Share Price * TSXV (2019-06-26) in CAD CA$0.22
Canada Metals and Mining Industry PB Ratio Median Figure of 1,093 Publicly-Listed Metals and Mining Companies 1.36x
Canada Market PB Ratio Median Figure of 2,426 Publicly-Listed Companies 1.44x
TSXV:GRG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:GRG Share Price ÷ Book Value per Share (both in CAD)

= 0.22 ÷ 0.33

0.65x

* Primary Listing of Golden Arrow Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Golden Arrow Resources is good value based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Golden Arrow Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Golden Arrow Resources has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Golden Arrow Resources expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Golden Arrow Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
28.3%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Golden Arrow Resources expected to grow at an attractive rate?
  • Unable to compare Golden Arrow Resources's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Golden Arrow Resources's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Golden Arrow Resources's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSXV:GRG Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 28.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:GRG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:GRG Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 -7 -17
2018-12-31 -8 -18
2018-09-30 -7 -16
2018-06-30 -7 -12
2018-03-31 -9 37
2017-12-31 -9 40
2017-09-30 -9 40
2017-06-30 -10 37
2017-03-31 -6 -6
2016-12-31 -5 -6
2016-09-30 -6 -7
2016-06-30 -3 -6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Golden Arrow Resources is high growth as no earnings estimate data is available.
  • Unable to determine if Golden Arrow Resources is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:GRG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Golden Arrow Resources Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:GRG Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 -0.16
2018-12-31 -0.18
2018-09-30 -0.17
2018-06-30 -0.13
2018-03-31 0.35
2017-12-31 0.41
2017-09-30 0.41
2017-06-30 0.40
2017-03-31 -0.09
2016-12-31 -0.08
2016-09-30 -0.11
2016-06-30 -0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Golden Arrow Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of GRG’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Golden Arrow Resources's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Golden Arrow Resources's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Golden Arrow Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Golden Arrow Resources has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Golden Arrow Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Golden Arrow Resources's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Golden Arrow Resources does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Golden Arrow Resources's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Golden Arrow Resources's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Golden Arrow Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Golden Arrow Resources Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:GRG Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 -16.53 6.34
2018-12-31 -17.80 7.41
2018-09-30 -16.38 7.66
2018-06-30 -12.44 7.77
2018-03-31 37.42 9.88
2017-12-31 39.72 9.02
2017-09-30 39.77 8.34
2017-06-30 36.73 7.71
2017-03-31 -6.49 4.97
2016-12-31 -5.88 4.19
2016-09-30 -7.21 5.28
2016-06-30 -5.52 6.61
2016-03-31 -6.81 6.18
2015-12-31 -8.84 8.65
2015-09-30 -8.84 9.13
2015-06-30 -8.85 8.83
2015-03-31 -9.70 9.79
2014-12-31 -8.53 8.67
2014-09-30 -7.59 7.80
2014-06-30 -7.47 7.67
2014-03-31 -6.23 6.24
2013-12-31 -6.74 6.34
2013-09-30 9.35 6.53
2013-06-30 9.92 6.29
2013-03-31 10.38 6.37
2012-12-31 12.69 4.94
2012-09-30 -2.62 4.56
2012-06-30 -2.42 4.48

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Golden Arrow Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Golden Arrow Resources has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Golden Arrow Resources improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Golden Arrow Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Golden Arrow Resources has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Golden Arrow Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Golden Arrow Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Golden Arrow Resources is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Golden Arrow Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Golden Arrow Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Golden Arrow Resources Company Filings, last reported 2 months ago.

TSXV:GRG Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 39.01 13.95 0.60
2018-12-31 38.33 11.66 0.44
2018-09-30 38.18 0.00 2.62
2018-06-30 44.49 0.00 7.17
2018-03-31 48.78 0.00 12.77
2017-12-31 50.67 0.00 16.50
2017-09-30 53.96 0.00 18.64
2017-06-30 54.31 0.00 21.67
2017-03-31 9.84 0.00 9.01
2016-12-31 10.32 0.00 9.33
2016-09-30 10.47 0.00 8.86
2016-06-30 5.63 0.00 4.06
2016-03-31 1.12 0.70 0.50
2015-12-31 2.14 0.87 1.47
2015-09-30 1.69 0.77 0.15
2015-06-30 2.62 0.20 0.96
2015-03-31 2.43 0.00 0.76
2014-12-31 2.79 0.00 1.26
2014-09-30 2.68 0.00 0.95
2014-06-30 2.73 0.00 1.59
2014-03-31 5.69 0.00 3.49
2013-12-31 7.58 0.00 5.06
2013-09-30 9.03 0.00 6.13
2013-06-30 10.10 0.00 7.60
2013-03-31 11.84 0.00 11.28
2012-12-31 14.35 0.00 12.04
2012-09-30 2.43 0.00 1.38
2012-06-30 4.14 0.00 2.64
  • Golden Arrow Resources's level of debt (35.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 35.8% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Golden Arrow Resources's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Golden Arrow Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Golden Arrow Resources has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Golden Arrow Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Golden Arrow Resources dividends.
If you bought CA$2,000 of Golden Arrow Resources shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Golden Arrow Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Golden Arrow Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:GRG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Golden Arrow Resources has not reported any payouts.
  • Unable to verify if Golden Arrow Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Golden Arrow Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Golden Arrow Resources has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Golden Arrow Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Golden Arrow Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Golden Arrow Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Golden Arrow Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe Grosso
COMPENSATION CA$275,000
AGE 79
TENURE AS CEO 6.1 years
CEO Bio

Mr. Joseph Nicola Grosso, also known as Joe, has been the Chief Executive Officer and President of Golden Arrow Resources Corp since May 17, 2013. Mr. Grosso served as Advisor at Blue Sky Uranium Corp. He served as Chief Executive Officer and President at Itasca Capital Ltd. since September 30, 2009. He has been Chairman and Director of Blue Sky Uranium Corp. since September 2017. He served as Chief Executive Officer at Standard Tolling Corp since January 2010 until December 2012. He served as President at Standard Tolling Corp. since January 2010 until April 28, 2011. He served as a Consultant of Windstorm Resources Inc. He is the Founder of Grosso Group Management Ltd. and serves as its Principal and President. He became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment and was named Argentina’s Mining Man of the Year in 2005. He served as the Chief Executive Officer of Golden Alliance Resources Corp. from January 2010 to December 2012 and served as its Corporate Secretary. He served as the Chairman and President of Golden Arrow Resources Corporation from 2004 to December 2012. He served as the President of Golden Alliance Resources Corp. from January 2010 to April 28, 2011. He served as the Chief Executive Officer and President of IMA Exploration Inc. since February 1990; Kobex Minerals, Inc. until September 30, 2009 and Pan American Lithium Corp. from May 26, 2009 to December 4, 2009. He served as the Chief Operating Officer of IMA Exploration Inc. He served as the President and Chief Executive Officer of Oxbow International Marketing Corp. He served as Chief Executive Officer the First Potash Corporation since May 26, 2009 until December 04, 2009 and served as its President. He has been the Executive Chairman of the Board at Golden Arrow Resources Corp. since February 26, 2013 and has been its director since 2004. He serves as Chairman of Golden Alliance Resources Corp. He served as the Chairman at Standard Tolling Corp. He served as the Chairman and Director of Gold Point Energy Corp. from April 19, 2006 to February 2008. He served as the Chairman and Director of Panthera Exploration Inc. from February 20, 2004 to October 10, 2008. He serves as a Director of Grosso Group Management Ltd. He has been the Chairman of Argentina Lithium & Energy Corp. and has been its Director since November 2, 2016. He served as a Director of Golden Alliance Resources Corp. from January 2010 to December 2012 and Golden Arrow Resources Corp. from 2004 to December 2012. He served as a Director at Itasca Capital Ltd. since September 30, 2009. He served as a Director at Argentina Lithium & Energy Corp since February 20, 2004 until October 10, 2008. He served as a Director of Pan American Lithium Corp. from May 30, 2008 to December 2009; Oxbow International Marketing Corp.; Panthera Exploration Inc. from February 20, 2004 to October 10, 2008; IMA Exploration Inc. since February 1990 and Kobex Minerals, Inc. until September 30, 2009. He served as a Director at Standard Tolling Corp. since January 2010 until December 2012. He served as a Director at First Potash Corporation since May 30, 2008 until December 2009. He became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment and was named Argentina's 'Mining Man of The Year' in 2005 and has been active in Peru since 1995.

CEO Compensation
  • Joe's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Joe's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Golden Arrow Resources management team in years:

6.3
Average Tenure
60
Average Age
  • The average tenure for the Golden Arrow Resources management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Joe Grosso

TITLE
Executive Chairman
COMPENSATION
CA$275K
AGE
79
TENURE
6.1 yrs

Darren Urquhart

TITLE
Chief Financial Officer
COMPENSATION
CA$60K
AGE
46

Niko Cacos

TITLE
VP of Corporate Development & Director
COMPENSATION
CA$120K
AGE
51
TENURE
6.6 yrs

Brian McEwen

TITLE
Vice President of Exploration & Development
COMPENSATION
CA$190K
AGE
60

Gerry Carlson

TITLE
Head of Exploration
AGE
72
TENURE
7.5 yrs

Connie Norman

TITLE
Corporate Secretary
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Golden Arrow Resources board of directors in years:

9.4
Average Tenure
70
Average Age
  • The tenure for the Golden Arrow Resources board of directors is about average.
Board of Directors

Joe Grosso

TITLE
Executive Chairman
COMPENSATION
CA$275K
AGE
79
TENURE
6.3 yrs

Niko Cacos

TITLE
VP of Corporate Development & Director
COMPENSATION
CA$120K
AGE
51
TENURE
15.4 yrs

David Terry

TITLE
Director
COMPENSATION
CA$55K
AGE
52
TENURE
15.4 yrs

Jon Gammon

TITLE
Director
COMPENSATION
CA$16K
AGE
77
TENURE
12.4 yrs

Louis Salley

TITLE
Director
COMPENSATION
CA$28K
AGE
80
TENURE
6.4 yrs

Alf Hills

TITLE
Director
COMPENSATION
CA$83K
AGE
63
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Golden Arrow Resources individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
20. Jun 19 Buy Connie Norman Individual 19. Jun 19 19. Jun 19 37,500 CA$0.20 CA$7,500
20. Jun 19 Buy Brian McEwen Individual 19. Jun 19 19. Jun 19 75,000 CA$0.20 CA$15,000
22. Mar 19 Buy Connie Norman Individual 22. Mar 19 22. Mar 19 35,000 CA$0.30 CA$10,500
08. Mar 19 Buy Brian McEwen Individual 27. Feb 19 27. Feb 19 100,000 CA$0.30 CA$30,000
05. Mar 19 Buy Louis Salley Individual 05. Mar 19 05. Mar 19 50,000 CA$0.30 CA$15,000
28. Feb 19 Buy Vinland Holdings Inc. Company 25. Feb 19 25. Feb 19 55,000 CA$0.30 CA$16,500
25. Feb 19 Buy Omc Services Ltd Company 25. Feb 19 25. Feb 19 33,000 CA$0.30 CA$9,900
26. Feb 19 Buy Joseph Grosso Individual 25. Feb 19 25. Feb 19 1,300,000 CA$0.30 CA$389,999
25. Feb 19 Buy Alfred Hills Individual 25. Feb 19 25. Feb 19 70,000 CA$0.30 CA$21,000
26. Oct 18 Buy Connie Norman Individual 26. Oct 18 26. Oct 18 35,000 CA$0.27 CA$9,552
06. Oct 18 Buy Joseph Grosso Individual 04. Oct 18 05. Oct 18 150,000 CA$0.30 CA$45,114
04. Oct 18 Buy Joseph Grosso Individual 03. Oct 18 03. Oct 18 300,000 CA$0.31 CA$93,480
X
Management checks
We assess Golden Arrow Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Golden Arrow Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What You Must Know About Golden Arrow Resources Corporation's (CVE:GRG) ROE

and want to begin learning the link between company’s fundamentals and stock market performance. … Golden Arrow Resources Corporation (CVE:GRG) delivered an ROE of 76.71% over the past 12 months, which is an impressive feat relative to its industry average of 11.43% during the same period. … View our latest analysis for Golden Arrow Resources

Simply Wall St -

Is Golden Arrow Resources Corporation (CVE:GRG) A Buy At Its Current PE Ratio?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to begin learning the link between Golden Arrow Resources Corporation (CVE:GRG)’s fundamentals and stock market performance. … Golden Arrow Resources Corporation (CVE:GRG) is trading with a trailing P/E of 1.4x, which is lower than the industry average of 11.2x.

Simply Wall St -

Is Golden Arrow Resources Corporation (CVE:GRG) A Buy At Its Current PE Ratio?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for GRG Price per share = CA$0.48 Earnings per share = CA$0.407 ∴ Price-Earnings Ratio = CA$0.48 ÷ CA$0.407 = 1.2x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … GRG’s P/E of 1.2x is lower than its industry peers (10.9x), which implies that each dollar of GRG’s earnings is being undervalued by investors.

Simply Wall St -

Company Info

Description

Golden Arrow Resources Corporation, a natural resource company, engages in the acquisition, exploration, and development of precious and base metal projects in Argentina. The company explores for gold, silver, lead, zinc, and copper deposits. Its principal asset is the Chinchillas silver-lead-zinc project located in Jujuy province, Argentina. Golden Arrow Resources Corporation was incorporated in 2015 and is headquartered in Vancouver, Canada.

Details
Name: Golden Arrow Resources Corporation
GRG
Exchange: TSXV
Founded: 2015
CA$26,615,071
123,791,029
Website: http://www.goldenarrowresources.com
Address: Golden Arrow Resources Corporation
837 West Hastings Street,
Suite 411,
Vancouver,
British Columbia, V6C 3N6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV GRG Common Shares TSX Venture Exchange CA CAD 09. Jul 2004
OTCPK GARW.F Common Shares Pink Sheets LLC US USD 09. Jul 2004
Number of employees
Current staff
Staff numbers
0
Golden Arrow Resources employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/27 00:01
End of day share price update: 2019/06/26 00:00
Last earnings filing: 2019/05/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.