Silver bull resources, inc. (OTCMKTS:SVBL) Files An 8-K Other Events
Item 8.01
On October 11, 2019, Silver Bull Resources, Inc. (the “Company”) and its subsidiary Minera Metalin S.A. de C.V. (“Minera Metalin”) issued a notice of force majeure to South32 International Investment Holdings Pty Ltd (“South32”) to the previously announced Option Agreement, dated as of June 1, 2018, and amended effective as of March 20, 2019, by and among the Company, Minera Metalin, Contratistas de Sierra Mojada S.A. de C.V., a subsidiary of the Company, and South32 (the “Option Agreement”). Due to a blockade by a cooperative of local miners called Sociedad Cooperativa de Exploración Minera Mineros Norteños, S.C.L., the Company has temporarily halted all work on the Sierra Mojada project. The notice of force majeure was issued because of the blockade’s impact on the ability of the Company and Minera Metalin to perform their obligations under the Option Agreement. to the Option Agreement, any time period provided for in the Option Agreement will generally be extended by a period equal to the period of delay caused by the event of force majeure.
On September 30, 2019, the Company issued a press release regarding the blockade. A copy of the press release is attached hereto as Exhibit 99.1.
(d) Exhibits.
| 99.1 | Press release, dated as of September 30, 2019 |
SILVER BULL RESOURCES, INC. Exhibit
EX-99.1 2 ex99x1.htm EXHIBIT 99.1 Exhibit 99.1 September 30,…
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About Silver bull resources, inc. (OTCMKTS:SVBL)
Silver Bull Resources, Inc. is an exploration stage-company. The Company has the option to acquire a number of property concessions in Mexico within the Sierra Mojada District, located in the west-central part of the state of Coahuila, Mexico. The Company conducts its operations in Mexico through its subsidiaries, Minera Metalin S.A. de C.V. and Contratistas de Sierra Mojada S.A. de C.V., and through its indirect subsidiary Minas de Coahuila SBR S.A. de C.V. The Company’s Sierra Mojada project (the Sierra Mojada Project) is located in the west central part of the state of Coahuila, Mexico, near the Coahuila-Chihuahua state border approximately 200 kilometers south the Rio Grande River. The principal mining area extends for approximately five kilometers in east-west direction along the base of the precipitous, approximately 1,000 meter high, Sierra Mojada Range. The Sierra Mojada Project consists of approximately 30 concessions consisting of approximately 20,950 hectares.