SVB, KRR
Silver Bull Mines aka SVB has one physical asset -- the Sieera Mojada Ag/Zn/Pb/Cu project in Coahuilla, Mexico, but they have not been able to access the site since September 2009, when a local group of malcontents first blockaded it. Attempts to get the Mexican authorities to intervene have been useless, so I had written off Sierra Mojada as worthless.
Well, maybe not. Today SVB announced they have commenced legal action against Mexico under NAFTA, claiming a minimum of $178M in damages. I am no lawyer, but it appears to me like they may have a good case. No doubt this will take years to be resolved, but maybe it will finally spur Mexico to take action so they can get back to work at Sieera Mojada.
In the meantime, SVB's management has been busy amassing Cu/Au prospects in Kazakhstan, which has since been spun out to a company called Arras Minerlas, which trades as ARK on the TSXV.
Message 34209988
In these inflationary times, all producing miners are focusing on costs, Today Karora Resources aka KRR released good news on this front, announcing that the second decline for their Beta Hunt Au/Ni mine in Australia had been completed, on budget and ahead of schedule. This has already allowed more efficient haulage of ore from the mine, and along with new ventilation raises, one complete, one underway, and another to come later this year, along with new equipment will allow them to greatly increase production toward their target of 2Mtpa during 2024.
Message 34210007 |
