Bruchou, Fernández Madero & Lombardi, Borden Ladner Gervais and Marval, O’Farrell & Mairal advised on the deal
Pan American Silver Corp. finalized the acquisition of 100% of Patagonia Gold’s Cap-Oeste Sur Este project (“COSE”) in the province of Santa Cruz, Argentina, from Patagonia Gold S.A. (“PGSA”), a wholly-owned subsidiary of Patagonia Gold Plc.
Total consideration for the COSE Transaction is US$15 million, of which US$7.5 million is deferred, plus a 1.5% net smelter return (“NSR”) royalty. The COSE deposit is situated 1.4 kilometres to the southeast of Patagonia Gold’s Cap-Oeste deposit in the province of Santa Cruz, Argentina.
In addition, Patagonia Gold has been granted an exclusive option to purchase from Minera Aquiline Argentina S.A., a wholly-owned subsidiary of Pan American Silver, the Calcatreu gold-silver project for US$15 million.
The Calcatreu deposit is a low sulphidation epithermal style gold-silver deposit located 60 kilometres south of the town of Ingeniero Jacobacci in the province of Rio Negro, Argentina. The option, exercisable at the discretion of Patagonia Gold, will remain available for a period of six months, during which time Patagonia Gold can complete its due diligence review of the project.
Bruchou, Fernández Madero & Lombardi advised Patagonia Gold Canada Inc. with Sergio Arbeleche (Picture), Exequiel Buenaventura, Sebastián Pedro Vedoya and María Lucila Seco.
In Canada, Borden Ladner Gervais LLP advised Pan American Silver Corp and Aquiline Resources Inc. with Fred R. Pletcher, Graeme D. Martindale and Julie A. Bogle.
In Argentina, Marval, O’Farrell & Mairal advised Pan American Silver Corp and Aquiline Resources Inc. with Leonardo G. Rodríguez, María Lucila Escriña, María Macarena García Mirri, Enrique Hidalgo and Mercedes Rudolph.
Involved fees earner: Fred Pletcher – Borden Ladner Gervais; Graeme Martindale – Borden Ladner Gervais; Julie Bogle – Borden Ladner Gervais; Sergio Arbeleche – Bruchou, Ferna?ndez Madero & Lombardi; Sebastián Pedro Vedoya – Bruchou, Ferna?ndez Madero & Lombardi; Exequiel Buenaventura – Bruchou, Ferna?ndez Madero & Lombardi; Leonardo Rodríguez – Marval, O’Farrell & Mairal; Maria Lucila Escriña – Marval, O’Farrell & Mairal; Maria Macarena Garcia Mirri – Marval, O’Farrell & Mairal; Enrique Alejandro Hidalgo Velasco – Marval, O’Farrell & Mairal; Maria Mercedes Rudolph – Marval, O’Farrell & Mairal;