General manager Brian Caldwell told St Mirren's website: "We were always confident that Franco would be back.
"He adapted very well to the Scottish game last season and I'm sure he'll be better next season."
CAI is a club that signs up lots of promising Argintinian players and loan them out to other clubs to raise there profiles and then sell them!
Miranda has been previously on loan at homeland clubs River Plate and Racing Club Avellaneda and Swedish outfit Helsingborgs.
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