A Vancouver-based mineral company just announced that it has won a lawsuit filed by a local mining co-operative in Mexico called Minera Norteños in relation to the Sierra Mojada project. Shares of Silver Bull Resources Inc. (TSX:SVB) soared on the news.
Silver Bull is an exploration-stage company engaged in acquiring and developing mineral properties. The company holds interests in various property concessions in Mexico within a mining district known as the Sierra Mojada District. The main project of the company is the Sierra Mojada Project, which is comprised of 20 concessions consisting of 6,496 hectares. Its geographical segments are Mexico, Canada, and others.
This news is welcomed by investors as shares of this micro-cap rallied up to a session high of $0.99/share (+8.79%), which is a strong continuation of the multi-month rally the stock has had. Tim Barry, President and CEO of Silver Bull, went on to say that "this ruling is welcomed, but not unanticipated. This is the fourth time that the courts have ruled in our favor on this issue."
