Almaden Minerals Advances in International Arbitration Efforts
Almaden Minerals Ltd. (“Almaden”; TSX: AMM; OTCQB: AAUAF) is making significant progress in its ongoing international arbitration proceedings against Mexico. This process, guided by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, highlights the commitment of Almaden to seek justice within a structured legal framework aimed at resolving disputes effectively.
As Almaden navigates this complex arbitration landscape, it remains dedicated to its stakeholders’ interests. The Company is engaged in a claim that reflects its determination to uphold and defend its rights under international law. With a prepared strategic approach, Almaden is utilizing up to US$9.5 million in non-recourse litigation funding provided by a leader in legal financing to pursue this case vigorously.
Key Milestones Achieved in the Arbitration
Since its last update, Almaden has successfully achieved several important milestones in its arbitration journey:
Formation of the Arbitration Tribunal
Both Almaden and Mexico have appointed their respective arbitrators to form a three-member arbitration panel. This tribunal is now fully constituted, signifying a pivotal step in the proceedings. The arbitration is taking place in Washington, D.C., a location chosen for its neutrality and expertise in international disputes.
First Session of the Tribunal
The Tribunal held its inaugural session with both parties present on November 20, marking a significant moment when the case began to formally unfold in front of the appointed arbitrators.
Submission Timeline
In terms of future submissions, the Tribunal has set a deadline for Almaden to present its Memorial document, which will expound on legal arguments and important evidence related to the claim, by March 20.
Expert Engagement and Preparation
Moreover, Almaden has engaged a quantum expert whose role will involve assessing the damages relevant to this arbitration. This assessment is crucial as it will contribute significantly to the arguments made within the Memorial. The legal team at Boies Schiller Flexner is working diligently, conducting extensive document reviews and interviews to build a strong case moving forward.
Future Outlook and Stakeholder Commitment
While Almaden is fully committed to pursuing this claim with vigor, it also remains focused on fostering a constructive dialogue with Mexican authorities. The aspiration is to reach a resolution that benefits all stakeholders involved, demonstrating Almaden’s commitment to responsible corporate governance.
Contact Information
For further inquiries or updates, stakeholders can reach out to Almaden Minerals Ltd. through the following contact information:
Tel: 604.689.7644
Email: info@almadenminerals.com
Website: www.almadenminerals.com
Frequently Asked Questions
What is the current status of the arbitration with Mexico?
Almaden Minerals has successfully constituted the Tribunal and held its first session, with key documentation submissions scheduled for the upcoming months.
What milestones has Almaden achieved recently?
Almaden appointed its arbitrators, established the Tribunal, and plans to submit a detailed Memorial document outlining its legal position.
How much funding is Almaden using for this arbitration process?
Almaden is utilizing up to US$9.5 million in non-recourse litigation funding to support its Claim.
What are Almaden's goals regarding this arbitration?
The Company aims for a positive resolution with Mexico that is beneficial to all stakeholders while concurrently preparing a thorough legal case.
How can stakeholders contact Almaden for more information?
Stakeholders can contact Almaden Minerals Ltd. via telephone at 604.689.7644 or through email at info@almadenminerals.com for inquiries and updates.
