Location:
USA, Idaho
Nearest Landmark:
COEUR D'ALENE
Distance from Landmark:
60 km
Direction from Landmark:
East
Latitude:
47 Degrees 30 Minutes (North)
Longitude:
116 Degrees 4 Minutes (West)
Minco Silver Corporation announces that the United States Bankruptcy Court, District of Idaho has ruled that the amount to cure the Sunshine Mine Lease is US$1,162,420.10 and the administrative costs are US$147,229.99 to SNS Silver Corp. for care and maintenance of the mine from the period between February to June 2009. This final ruling from the Court puts an end to the controversy surrounding the Sunshine Mine Lease between Sterling Mining Company and Sunshine Precious Metals Inc.. As a result, Sterling regained control and possession of the Sunshine Mine on August 19, 2009. Minco Silver is working closely with Sterling in the care and maintenance of the Sunshine Mine and dewatering of the mine is expected to commence shortly.
Minco Silver announced that on August 14, 2009 the United States Bankruptcy Court district of Idaho held that SPMI’s continued occupation of the Sunshine Mine is contrary to the best interest of the Sunshine Mine and ordered the possession of the Sunshine Mine be returned to Sterling Mining.
SNS Silver reported that Sunshine Precious Metals Inc. President Robert Mori has publicly announced his desire to return the Sunshine mine to operational status with SNS Silver as mine operator.
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