New Dimension Signs Binding Letter of Intent with Cerrado Gold for Sale of Minera Mariana Argentina S.A.


VANCOUVER, BC, Oct. 28, 2020 /PRNewswire/ – New Dimension Resources Ltd. (TSXV:NDR) (the “Company”, New Dimension” or “NDR”) is pleased to announce that it has entered in to a Binding Letter of Intent (“LOI”) with Cerrado Gold Inc. (“Cerrado”) for the sale of its 100% interest in its Argentine subsidiary, Minera Mariana Argentina S.A. (“Minera Mariana”)(the “Transaction”). Minera Mariana is owner of the Las Calandrias and Los Cisnes gold-silver projects, in addition to an extensive portfolio of exploration concessions in the Eastern Deseado Massif, Santa Cruz Province, southern Argentina. The transaction is subject to successful completion of due diligence and is expected to close on or around November 30, 2020. 

Cerrado is owner and operator of the Minera Don Nicolas (“Don Nicolas”) gold mine, a 1,000 tonne per day gold mining/processing facility located immediately adjacent to Minera Mariana’s Las Calandrias project.  

Highlights of the

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Harvard fund evades justice in land-grabbing case over Cerrado farm

  • In September, the court in Brazil’s Bahia state ruled that a company in which Harvard University’s endowment fund was invested had illegally acquired the land for a large farm in the Cerrado grasslands.
  • The Gleba Campo Largo farm, spanning 140,000 hectares (346,000 acres), has for years been the focus of violent land disputes.
  • The farm’s registered owner is Caracol Agropecuária Ltda., a company that the Harvard Management Company is believed to have poured an estimated $59 million into over the course of about a decade.
  • The Harvard Management Company, which fully divested from Caracol in June 2019, told Mongabay it “does not have and has never had any ties to Caracol.”

On Sept. 8, a court ruling shook up an old land conflict in Cotegipe, in the Brazilian Cerrado grasslands. That was when the 3rd Civil Chamber of the Bahia state Court of Justice ruled that Caracol Agropecuária Ltda., a

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