MAG Silver Responds to Reports of Eviction from Cinco de Mayo Property, Mexico
MAG Silver Corp. (MAG.TO) today responded to reports from local media in Mexico that landholders from Benito Juarez decided during an assembly meeting of the local community to expel MAG from its Cinco de Mayo property and establish a 100 year mining moratorium.
MAG said it 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 says it 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."
MAG shares rose 1.4% to $11.45.
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