Silver Bull Res Stock Price, News & Analysis

Silver Bull Resources, Inc. (SVBL) is a mineral exploration and development company whose activities are focused on the Sierra Mojada deposit in Coahuila, Mexico. According to the company’s public disclosures, Sierra Mojada is its only asset and is characterized as an open pittable oxide deposit with a significant NI 43-101 compliant measured and indicated mineral resource containing zinc and silver. Silver Bull’s shares trade on the OTCQB under the symbol SVBL and on the Toronto Stock Exchange under the symbol SVB.

The company operates within the dimension stone mining and quarrying industry and the broader mining, quarrying, and oil and gas extraction sector. Its business has historically centered on advancing the Sierra Mojada project, which hosts a measured and indicated “global” mineral resource and defined high-grade zinc and high-grade silver zones, as described in the company’s technical disclosure. The mineralization at Sierra Mojada is reported to remain open in several directions, indicating potential for further exploration within the existing project area.

Focus on the Sierra Mojada Deposit

Silver Bull describes Sierra Mojada as an open pittable oxide deposit with a NI 43-101 compliant measured and indicated “global” mineral resource of zinc and silver. Within this global resource, the company has outlined a high-grade zinc zone and a high-grade silver zone based on specific cutoff grades. These zones are part of the same overall deposit and are used by the company to characterize areas of higher metal grades within the broader resource. The company has referred investors to a detailed resource update news release for a full summary of these mineral resources.

Silver Bull states that mineralization at Sierra Mojada remains open to the east, west, and north. In exploration terms, this means that drilling and geological work have not yet closed off the extent of the mineralized system in those directions, and additional work would be required to define its full limits. The project is located in the state of Coahuila, Mexico, a region known for mining activity.

Impact of the Sierra Mojada Blockade and Arbitration

According to multiple company news releases, Silver Bull’s access to the Sierra Mojada project has been blocked since an illegal blockade began in September 2019. The company attributes this blockade to a local group seeking a royalty payment and states that the blockade has prevented it from accessing the site and conducting its business activities in Mexico for several years. Silver Bull reports that, despite court rulings in its favor and repeated requests to Mexican governmental authorities, the blockade has remained in place.

Silver Bull asserts that the blockade and the response of the Mexican Government have led to what it describes as the total or complete loss of its investment in Sierra Mojada and the destruction of shareholder value at the project. On this basis, the company has initiated an international arbitration claim against the United Mexican States (Mexico) under the United States-Mexico-Canada Agreement (USMCA) and the North American Free Trade Agreement (NAFTA), administered by the International Centre for Settlement of Investment Disputes (ICSID). The arbitration concerns alleged unlawful expropriation and other breaches of Mexico’s obligations under NAFTA and related treaties.

Arbitration Process and Litigation Funding

Silver Bull has publicly outlined a detailed arbitration process. The company officially notified Mexico of its intention to initiate arbitration in March 2023, following an unsuccessful 90-day amicable settlement period. It then filed a Request for Arbitration with ICSID in June 2023. A three-person arbitration panel (the Tribunal) has been appointed by ICSID, and the Tribunal has held its first session with the parties. Silver Bull has filed a Memorial setting out its claim and supporting evidence, Mexico has filed a Counter-Memorial, and Silver Bull has filed a Reply responding to Mexico’s submissions and updating its damages claim.

The company has engaged the international law firm Boies Schiller Flexner (UK) LLP as legal counsel for the arbitration, with a team led by practitioner Timothy L. Foden. Silver Bull has also retained a quantum expert to evaluate the damages it claims to have suffered. To finance the arbitration and corporate operations, Silver Bull entered into a Litigation Funding Agreement with Bench Walk Advisors LLC. Under this agreement, Bench Walk provides funding up to a specified amount in exchange for a contingent entitlement to a portion of any damages that may be awarded in the arbitration.

Corporate Governance and Shareholder Approvals

Silver Bull regularly holds annual meetings of shareholders where key corporate matters are put to a vote. Publicly disclosed voting results show that shareholders have re-elected directors, approved the appointment of the company’s independent registered public accounting firm, and supported matters such as equity incentive plans and advisory votes on executive compensation. The company has also established a Management Retention Agreement (MRA) to retain key personnel with important historical knowledge relevant to the arbitration claim. Under the MRA, if the arbitration is successful and damages are received, a portion of the net proceeds is allocated for distribution to specified participants, subject to the satisfaction of defined duties.

The MRA has been described as a related party transaction under applicable securities regulations and has received conditional approval from the Toronto Stock Exchange, including a requirement for disinterested shareholder approval. Shareholders have subsequently voted on the unallocated entitlements under the company’s stock option and stock bonus plan and on other compensation-related matters, as disclosed in proxy statements and meeting results.

Business Model and Current Emphasis

Based on its disclosures, Silver Bull’s business model is currently dominated by two interrelated elements: the ownership of the Sierra Mojada mineral asset and the pursuit of international arbitration to seek damages it claims to have suffered due to the blockade and alleged treaty breaches. The company notes that Sierra Mojada is its only asset or only current property, and that the blockade has prevented it from advancing the project through on-the-ground exploration or development activities.

To support this strategy, Silver Bull has arranged third-party litigation funding and implemented retention arrangements for key personnel. Its public communications emphasize the legal process, the scale of the damages it is seeking, and the technical characteristics of the Sierra Mojada deposit as the foundation for its claim. Investors and observers interested in SVBL therefore often focus on developments in the arbitration timeline, tribunal decisions, and any updates to the company’s assessment of damages.

Regulatory and Reporting Framework

Silver Bull is subject to securities regulation in both Canada and the United States. The company references compliance with NI 43-101 in its mineral resource reporting and notes differences between Canadian and U.S. reporting standards for mineral resources and reserves. It also refers investors to filings and proxy materials available on Canadian (SEDAR+) and U.S. (EDGAR) regulatory platforms. These documents provide additional detail on corporate governance, compensation, and the technical aspects of the Sierra Mojada project.

Because Sierra Mojada’s mineral resources are reported under NI 43-101, Silver Bull includes cautionary language directed at U.S. investors regarding the interpretation of measured, indicated, and inferred resources and the differences between Canadian and U.S. disclosure rules. The company also highlights that certain resource categories involve greater uncertainty and that estimates may not be directly comparable to those of U.S. issuers that report under different standards.

Position Within the Mining Sector

Within the mining, quarrying, and oil and gas extraction sector, Silver Bull is focused on a single polymetallic deposit rather than a multi-asset portfolio. Its disclosures emphasize zinc and silver mineralization at Sierra Mojada and the legal and regulatory environment in which the project exists. The company’s situation illustrates how mining projects can be affected by local conditions, access issues, and international investment treaties, and how arbitration mechanisms under agreements such as NAFTA and USMCA can become central to a company’s strategy when physical access to a project is disrupted.

Key Considerations for SVBL Stock

For those researching SVBL stock, Silver Bull’s public information highlights several structural features:

• Concentration on a single asset, the Sierra Mojada deposit in Coahuila, Mexico.
• Dependence on the outcome of an international arbitration claim against Mexico related to the alleged expropriation and treatment of that asset.
• Use of litigation funding to support the arbitration and ongoing corporate activities.
• Corporate governance decisions, including retention arrangements and equity incentive plans, that are tied to the potential outcome of the claim.

These elements, drawn from the company’s own news releases and regulatory disclosures, frame how Silver Bull presents its business, risks, and opportunities to shareholders and other stakeholders.