Check the facts here!! BGL sued MSJ. regarding a contract it thought it had with MSJ a private company.MSJ. Agreed to give BGL $6.5 million for a percentage of the cinco mines,but never delivered the money.SRGE WAS NEVER A PARTY IN THIS LITIGATION...YOU CANNOT FIND ANY MENTION OF SRGE IN THE BGL/MSJ LITIGATION...SO TO SAY SO IS NOT TRUE!!DO YOUR DD AND YOU TOO,WILL FIND THE REAL FACTS HERE!! ROFLMAO!!!
Bandera Announces First Instance Ruling in Connection With Its Mexican Properties
EDMONTON, ALBERTA--(Marketwire - July 16, 2009) - Bandera Gold Ltd. ("BGL") (TSX VENTURE:BGL) is pleased to announce that it has obtained a favorable first instance ruling (the "Ruling") from the Fifth Mercantile Court (Guadalajara) (the "Court") in its lawsuit against Minera San Jorge ("MSJ"), George Barnett and others. As previously announced, the lawsuit was brought by BGL to enforce its rights under the option agreement dated November 15, 2005 (the "Option Agreement") under which BGL was entitled to earn in up to a 60% equity interest in the Cinco Minas and Gran Cabrera projects in Mexico (the "Properties").
The validity and enforceability of the Option Agreement has been confirmed by the Court and it reinstates BGL's rights to the Properties by ordering the transfer of title to both Properties to the Joint Venture company through which BGL holds its interest in the Properties.
The ruling is dated July 7, 2009 and is 118 pages in length. The board and its lawyers are reviewing the detailed contents of the ruling.
As of August 7, 2009 this ruling will be final absent any appeal by MSJ.
NO MENTION OF SRGE ANYWHERE BECAUSE IT HAD NO PART IN THIS LITIGATION ,
Additionally, the Court has been notified that in a separate legal action, to which BGL was not a party, the labor court awarded a settlement against MSJ which resulted in the transfer of title to the Properties to a third party. This transfer appears to have occurred without proper notification to the Court or reference to BGL's prior lien over the Properties as registered in the records of the Mining Public Registry ("MPR"). BGL lawyers have commenced a case in the Federal courts, seeking an "Amparo judgment" (relief of violated civil rights by authorities). Our lawyers have argued that the process resulting in the transfer was illegal and should be declared invalid and null and void. The Amparo court has issued a suspension (freezing the process in place) pending issuance of its judgment. The suspension prevents MPR from registering any further changes of title to the Properties and make no further changes to its records until the Amparo court issues its ruling. We await the Amparo court's ruling in the very near future.
BGL is assessing its continued strategy to enforce its contractual rights and to gain control over its projects in Mexico.
On behalf of the Board
Kelvin Williams, CEO
AI
