Buenos Aires, August 6th, 2018. Beccar Varela advised Route One Investment Company LLC on its participation in a mining project in Argentina. Through a complex agreement, Regulus Resources Inc – which has Route One as a shareholder- will divest its assets, including the Río Grande and Aguas Calientes projects, to Aldbaran Resources Inc. (split). In turn, through this agreement, Aldebaran negotiated a joint venture and an option contract with Stillwater Canada LLC, which will allow the acquisition of up to an 80% stake in Peregrine Metals Ltd., owner of the Altar Project, one of the largest gold and copper deposits of Argentina, located in the province of San Juan.
The agreement includes Route One’s financing of the exploration of the Altar Project site for the next five years, worth US$30 million. The transaction is subject to certain conditions to be fulfilled and must be closed in accordance with the Business Corporations Act of Alberta, Canada, and with the execution of the final documents. Through this agreement, the companies sought not only to generate immediate benefits for their shareholders, but also to expand their promising projects in the country.
In this agreement, Santiago Saravia Frías advised the parties involved in the jurisdictions of Salta and San Juan; while Beccar Varela advised Route One Investment Company LLC and Bruchou advised Sibanye-Stillwater. Stillwater Canada is an indirect subsidiary of the mining company Sibanye-Stillwater, on this occasion represented by Linklaters LLP, in New York, in coordination with Stikeman Elliott LLP, in Canada. Dentons Canada LLP participated in the operation on behalf of Regulus and Aldebaran.
Counsel to Route One Investment Company LLC.
Richards Kibbe & Orbe LLP (Washington, D.C. and New York): partners William Orbe, Eric O’Meara and Jeffrey Lehtman; counsel Catherine Turgeon and associate Jamie Schafer.
Goodmans LLP (Toronto): partners Gesta Abols, Ken Saddington and David Wiseman; and associate Rosel Kim.
Beccar Varela: partners Maximiliano D’Auro and María Shakespear (M&A), Agustín Waisman (Antitrust) and senior associate Marcos Moreno Hueyo (Mining).
Counsel to Regulus
Richards Kibbe & Orbe LLP
Estudio Saravia Frías: Santiago Saravia Frías.
Counsel to Sibanye-Stillwater
Linklaters LLP (New York): partners Peter Cohen-Millstein and Andrew Morris; and senior associates Zach Caldwell and J.R. Neuville.
Stikeman Elliott LLP (Toronto): partners Ivan Grbešić, Jay Kellerman and Dean Kraus. Counsel John O’Connor.
Bruchou Fernandez Madero Lombardi: partner Estanislao Hernán Olmos and associate María Agostina Milani (corporate law); partners Sergio Arbeleche and Sebastián Vedoya and associate Mercedes Valín (mining law).