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First Majestic to fight Mexico tax dispute internationally unless deal reached

By Reuters Staff
2 Min Read
MEXICO CITY, Feb 2 (Reuters) - Canada’s First Majestic Silver Corp will pursue all legal avenues including those under international law in a prolonged dispute with Mexico over taxes, unless it can reach an amicable settlement with authorities, the company said.
Mexico has calculated that First Majestic owes 11 billion pesos ($544 million) in delinquent taxes, sources told Reuters in a story published on Monday.
“First Majestic continues to amicably resolve its differences with the government of Mexico,” the company said in a statement to Reuters late on Monday.
But if a “mutually satisfactory” solution is not reached, First Majestic said it will “continue to pursue all legal avenues available under Mexican law and international law.” ....

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Exclusive-Mexican tax authorities to seek over $500 million from Canada's First Majestic

4 Min Read
MEXICO CITY (Reuters) - Mexico’s government plans to seek more than $500 million from Canadian miner First Majestic Silver Corp in what it says are owed taxes for artificially keeping its silver prices low over the past decade, two sources told Reuters.
FILE PHOTO: Silver bars and coins are stacked on a table in the safe deposit boxes room of the ProAurum gold house in Munich March 3, 2014. REUTERS/Michael Dalder/File Photo
Audits dating back to 2010 show that the company owes about 11 billion pesos ($534.36 million), the sources said.
So far, Mexico’s Tax Administration Service, or SAT, has sought 5.5 billion pesos ($267.18 million) in tax debt, with the remaining half of the total yet to enter into formal disputes, according to the sources. ....

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First Majestic scores small win in Mexico tax dispute

First Majestic scores small win in Mexico tax dispute
The Santa Elena mine is expected to produce between 2 and 2.2 million ounces of silver in 2021. (
First Majestic Silver (NYSE: AG) (TSX: FR) has scored a small victory in Mexico after a local judge declined to charge the Canadian miner with criminal tax fraud, but said prosecutors can return to court and present additional evidence.
A source familiar to the matter quoted by
Bloomberg, said the court had only delayed ruling on the case. The person added the judge is waiting on an audit by Mexico’s tax authority to be finished and that he hadn’t ruled yet on the evidence presented in the case. ....

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Eloro Resources Intersects 129.6 Grams Silver Equivalent per Tonne over 257.5m in Extensive Silver-Polymetallic Mineralization in Santa Barbara Breccia Pipe, at its Iska Iska Property, Potosi Department, Southern Bolivia

Eloro Resources Intersects 129.6 Grams Silver Equivalent per Tonne over 257.5m in Extensive Silver-Polymetallic Mineralization in Santa Barbara Breccia Pipe, at its Iska Iska Property, Potosi Department, Southern Bolivia
January 26, 2021 07:00 ET
| Source:
Eloro Resources Ltd.
Eloro Resources Ltd.
TORONTO, Jan. 26, 2021 (GLOBE NEWSWIRE)
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce additional results from its diamond drilling program at its optioned Iska Iska Silver-Polymetallic Project (“Iska Iska”) in the Potosi Department, southern Bolivia. To date, through its Bolivian subsidiary, Minera Tupiza S.R.L. (“Minera Tupiza”), Eloro has completed 20 holes totalling 5,573m metres from both underground (12) and surface drill holes (8). Results from the first five underground holes were reported on November 18, 2020. This release reports results for 10 ....

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