- Silver Bull Resources (SVB) has won a lawsuit in relation to the Sierra Mojada project in Mexico
- The company says it is “pleased” that it won a “definitive and conclusive decision” in the lawsuit
- The lawsuit was filed by a local mining co-operative called Minera Norteños
- The decision was made by the unanimous vote of three judges in the third Federal Circuit Court of Chihuahua
- Silver Bull Resources is up 4.40 per cent on the day, with shares of the company trading at C$0.95 at 1:02 pm ET
Silver Bull Resources (SVB) has won a lawsuit in relation to the Sierra Mojada project in Mexico.
The company says it is “pleased” that it won a “definitive and conclusive decision” in the lawsuit.
The lawsuit was filed by a local mining co-operative called Minera Norteños.
The decision was made by the unanimous vote of three judges in the third Federal Circuit Court of Chihuahua.
“This ruling is welcomed, but not unanticipated. This is the fourth time that the courts have ruled in our favor on this issue. Unfortunately, we believe the plaintiff, Minera Norteños, was manipulated and ill advised by legal and other advisers.
Our legal team in Mexico is to be commended for patiently making progress in the face of numerous tactics to delay a judgement on the merits of the case,” said Silver Bull President, CEO and director Tim Barry.
“Despite the fact that the company has at all times proceeded in accordance with the law, the Sierra Mojada project remains under an illegal blockade manned by a small group of radical members from within Minera Norteños.
We believe their actions do not represent the view of the vast majority of the Minera Norteños members and the wider local community, and we are working with authorities to resolve the situation in a safe, fair, and timely manner.
We remain committed to good faith dialogue with selected members from Minera Norteños to find a solution that facilitates the resumption of the drilling program halted by the blockade more than one year ago.”
Silver Bull is a Vancouver-based mineral exploration company listed on the TSX and trading on the OTCQB in the United States.
In addition to the Sierra Mojada project, Silver Bull recently signed an Option Agreement to acquire the Beskauga Copper-Gold Project, located in North Eastern Kazakhstan.
Silver Bull Resources is up 4.40 per cent on the day, with shares of the company trading at C$0.95 at 1:02 pm ET.