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Auxico Secures $2.2 Million Arbitration Award Against JBNX

Story Highlights
  • Auxico Resources Canada Inc. focuses on mineral property development in Colombia and Bolivia.
  • Auxico wins a $2.2 million arbitration award against JBNX for contract breach.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Auxico Secures $2.2 Million Arbitration Award Against JBNX

TipRanks Black Friday Sale

Auxico Resources Canada ( (TSE:AUAG) ) just unveiled an announcement.

Auxico Resources Canada Inc. has been awarded approximately USD $2.2 million by the International Court of Arbitration against JBNX Holding e Participações LTDA for breaching a 2020 purchase agreement. This arbitration award, which is final and binding, compensates Auxico for JBNX’s failure to deliver manganese ore as contracted, and the company is now taking steps to enforce the award in Brazil.

More about Auxico Resources Canada

Auxico Resources Canada Inc. is a Canadian company founded in 2014 and based in Montreal. It is engaged in the acquisition, exploration, and development of mineral properties, primarily in Colombia and Bolivia. The company trades on the Canadian Stock Exchange under the symbol AUAG.

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$11.52M

See more data about AUAG stock on TipRanks’ Stock Analysis page.

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