PAGBAM advises CIMINAS on sale of Gastrenor
Pérez Alati Grondona Benites & Arntsen has advised Compañía Inversora de Minas (CIMINAS) on the sale to Patagonia Gold Corp. of certain mining properties, which comprise the ‘Gastrenor’ project located in the Province of Chubut.
Under the terms of the transaction, completed on 10 October, Patagonia Gold paid CIMINAS an initial sum, to which a subsequent higher payment may be added if certain conditions are met, mainly related to a potential legalisation of the metalliferous mining activity in the Province of Chubut. In addition, CIMINAS received as additional consideration a right to a royalty on any future mining exploitation carried out on the properties comprising the ‘Gastrenor’ project.
The transaction additionally involved the renegotiation between CIMINAS, Patagonia Gold and Minsud Argentina Inc. of certain royalties on the exploitation of mining properties located in the provinces of Chubut, Río Negro and Santa Cruz.
Matías Argarate acted as in-house counsel to Patagonia Gold.
Leverone Abogados advised Minsud Argentina through a team led by Lucio Leverone and Bautista Etchebarne.
PAGBAM’s team consisted of partner P. Eugenio Aramburu (pictured) together with associates F. Nicanor Berola, Marcos Vieito, and paralegal Abril Torres.
