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Artículo

15 Nov 2013

Autor:
Excellon Resources

[PDF] Backgrounder – Revised November 15, 2013

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…Agrarian Court Proceedings. Considering the ongoing nature of the dispute with the Ejido, in late August 2012, the Company filed a legal action for damages and rescission (i.e., termination) of the surface rights agreement with the Ejido. Excellon’s suit seeks damages for lost profits, the return of rental payments for the period of lost production and losses of market capitalization. A few days subsequent to the filing of Excellon’s claim, the Ejido filed a similar claim. The Ejido’s claim alleges that Excellon breached the surface rights agreement and included demands for (i) the termination of the surface rights agreement (ii) one year’s surface rent in respect of such termination and (iii) 55 million pesos…in respect of alleged damages. Excellon considers the Ejido’s claim to be entirely baseless and a response to the Company’s previously filed claim…[and] remains committed to operating one of the highest paying and safest mines in Mexico…

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