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Silver Bull Resources Inc. (AMEX:SVBL, TSX:SVB) is a well-financed exploration stage enterprise headquartered in Vancouver, Canada, engaged in the business of mining. The company owns mining concessions in Sierra Mojada, Coahuila, Mexico, and exploration licenses in Gabon, Africa. Their primary focus is the Sierra Mojada project in Mexico, with over 80,000 meters of drilling completed on the property since 1997.
Arras Minerals Corp. (TSXV:ARK)(OTCQB:ARRKF) has provided an update on its exploration activities in NE Kazakhstan. Key highlights include:
- Completion of a 3,547 line-kilometer Heli-TEM survey at the Bozshakol project
- Ongoing KGK drill program at Aktasty and Maisor licenses (Bozshakol project)
- 80% completion of Ground IP Survey at the Elemes project, with core drilling underway
- Completion of KGK drill program at the Tay project
The company is progressing well across its project portfolio, with drilling activities at Elemes and Bozshakol aimed at identifying priority targets for future campaigns. At Tay, initial results show zones of chalcopyrite mineralization, with assay results expected in October.
Silver Bull Resources has filed a memorial submission in its international arbitration claim against Mexico, demanding US$408 million in damages under USMCA and NAFTA. The claim stems from the Mexican government's alleged unlawful expropriation and continued illegal blockade of Silver Bull's Sierra Mojada project since September 2019, which has resulted in the total loss of Silver Bull's investment. The arbitration hearing is scheduled for October 2025. Silver Bull is supported by Bench Walk Advisors with up to US$9.5 million in litigation funding. The company has hired Boies Schiller Flexner for legal counsel, with Timothy L. Foden leading their team. Despite multiple favorable rulings in Mexican courts, the blockade continues, significantly affecting Silver Bull's operations and shareholder value.
Arras Minerals Corp. announces the voting results of its annual and special meeting of shareholders, where the number of directors was set to seven. The shareholders elected all listed nominees as directors, ratified the appointment of Smythe LLP as auditors, and re-approved the equity incentive plan. Detailed voting results are provided in the Company's management information circular available on SEDAR.
Silver Bull Resources has updated its NAFTA claim against Mexico regarding the illegal blockade of its Sierra Mojada project. Initiated in March 2023, the claim seeks to recover US$178 million in damages due to Mexico's failure to protect the company's investments since the blockade began in September 2019. A meeting is scheduled for May 30, 2023, to discuss potential resolutions, but if unsuccessful, arbitration will be pursued via the ICSID. Alongside this, management changes were announced, with Erinn Broshko appointed to oversee the arbitration and Tim Barry reassuming the presidency following Darren Klinck's departure. Barry expressed confidence in the arbitration's success and emphasized a commitment to creating value for shareholders.
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