Credit: Shutterstock photoSierra Iron Ore Corp (NAA.V) updated its legal action against Paradox Global Resources, which owns and operates an iron ore mine on the adjacent property to Sierraâs recently optioned Mazomique property in Mexico.
As previously announced on January 8, 2013, the legal action claims that Paradox has illegally crossed the property lines and has been operating and extracting iron ore from the Mazomique property for resale into the market. The legal action initiated by Sierra Iron Ore has successfully resulted in the termination of any further mining operations conducted by Paradox on the Mazomique property.
Wally Boguski, President and CEO, said: "We continue to vigorously pursue all legal remedies and will aggressively defend and protect the company's assets. We are working with the local court and government authorities at the state and federal levels and expect full cooperation with a favourable resolution to our legal claim."
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
