Junior Miner Up Big Following Update On NAFTA Claim Against Mexico

Sponsored:

Tuesday, April 25, 2023

A Vancouver-based junior miner is seeing its stock soar on Tuesday for a pretty interesting reason. Earlier this morning, the company provided an update regarding its legacy North American Free Trade Agreement (NAFTA) claim against Mexico, which according to the release has ended with the company seeking US$178 million in damages “that it has suffered as a result of Mexico’s breach of its NAFTA obligations.”

While this type of announcement doesn’t sound like a bullish event, the fact that government officials from Mexico have extended an invite to the company’s management for next month to potentially come to an agreement have traders optimistic of the outcome(s). Shares of Silver Bull Resources Inc. (TSX:SVB) (OTCQB:SVBL) have rallied strongly on the news, with shares trading on the TSX reaching up to $0.27/share (+31.71%) while shares trading OTC hit $0.19/share (+24.18%) at the session high. Seeing that the market cap of this company is under $10 million currently, any indication of a settlement as large as what the company is seeking naturally shifted the sentiment to the bullish side of things.

Silver Bull Resources Inc 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. Its geographical segments are Mexico, Canada, and Kazakhstan.

Sponsored: