Golden Arrow Resources said on Monday it completed the sale of copper assets from its San Pietro project to Capstone Copper for approximately $25 million, following shareholder approval in August.
The transaction involved the issuance of 2,200,012 ordinary shares of Capstone Copper to New Golden Exploration Chile SpA, a joint venture in which Golden Arrow holds a 75.019% stake. Sociedad de Servicios Andinos SPA, the minority partner with a 24.981% stake, received 533,098 shares. The valuation was based on the volume-weighted average price of Capstone’s shares over the 10 trading sessions ending two business days prior to closing, using the Bank of Canada’s exchange rate from the same date.
Transaction costs and taxes totaled $6.55 million, deducted from the gross proceeds. Golden Arrow’s subsidiary, New Golden Explorations Atlantida Ltd., received 1,666,914 shares, of which 165,042 were withheld for Chilean tax payments and 66,000 were allocated to advisory fees. Southern Cone Partners, the financial advisor, received an advisory fee of $750,000, settled via the issuance of 66,000 Capstone shares.
Nikolaos Cacos, president and CEO of Golden Arrow, said the company was pleased to finalize the deal, emphasizing its role in unlocking value from the San Pietro project. The joint venture partners had announced the transaction on June 23, 2026, and secured shareholder approval on August 21, 2026, with completion occurring on August 31, 2026.
Golden Arrow plans to reinvest proceeds into expanding its exploration activities in Chile and Argentina, including a drilling program at its Atakama gold project scheduled for the fall.
