Sulliden’s court troubles go away

A court injunction halting an arbitration case between Sulliden Exploration (SUE-T) and Minera Algamarca, has been revoked by the Superior Court of Lima in Peru.

At issue was an arbitration process over Algamarca’s 2002 agreement to sell the Shahuindo silver-gold property to Sulliden. New controlling shareholders had sought to reverse that agreement in the courts, but the parties were sent back to arbitration.

Algamarca obtained an injunction to stop the arbitration process, which has now been rescinded.

Shahuindo, about 70 km south of the Yanacocha gold deposit, has an indicated resource of 38 million tonnes grading 0.95 gram gold and 23 grams silver per tonne.