Arena Minerals’ Option to Acquire the La Finca Property in Chile


Morales & Besa has advised Arena Minerals Chile SpA on the deal

Arena Minerals Inc. through its subsidiary, Arena Minerals Chile SpA

has entered into an Option Agreement to acquire 100% of Mineras Cuprita.

Arena Minerals is a prospect generator that has two properties under option covering approximately 70,000 hectares within the Antofagasta region of Chile. The properties are at low altitudes, within producing mining camps in infrastructure rich areas. The Company’s flagship asset is the Atacama Copper Property, consisting of 70,000 hectares, following a contractual land reduction on July 27, 2016, of essentially undrilled ground in the heart of Chile’s premier copper mining district. Currently, approximately 40,000 of the Atacama Copper Property is under option to third parties. Pursuant to option agreements entered into between Arena, Japan Oil, Gas and Metals National Corporation and Teck Resources Chile Limitada, each have the right to earn into 60% of the respective land holdings within the property, by collectively spending over $40 million in exploration expenditures, amongst certain other commitments.

Morales & Besa has advised Arena Minerals Chile SpA and Arena Minerals Inc. with Eugenio Besa (Picture), Lorena Barrientos and Katannya Jablonski.

Involved fees earner: Eugenio Besa – Morales & Besa; Lorena Barrientos – Morales & Besa; Katannya Jablonski – Morales & Besa;

Law Firms: Morales & Besa;

Clients: Arena Minerals Inc.;

Avatar

Author: Ambrogio Visconti.