UPDATE: Mag Silver Down 11% After Trading Resumes, Ejido Meeting in Focus


Shares of Mag Silver ( MVG ) have re-opened for trading and are now down 11.2% to $9.98, after being halted at $11.40.

MVG recently responded to local media reports in Mexico that landholders from Benito Juarez decided during an assembly meeting of the local community on Saturday to expel MVG from its Cinco de Mayo property and establish a 100 year mining moratorium.

According to a company statement "MVG is strongly of the view that the

assembly meeting was called and conducted illegally as a result of the efforts

of a concentrated group of radical activists opposed to mining in the region.

MAG is in the process of pursuing legal remedies at both the state and federal

levels to have the meeting and all resolutions passed at the meeting declared

null and void. MAG is highly confident that the illegal resolutions will not

be permitted to stand."

Shares have traded in a 52-week range of $5.95 - $13.42.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: MVG

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