Minco Silver is a Canadian based mining company focused on the acquisition and development of high quality silver properties. The Company's flagship asset is the Fuwan Silver deposit located in southeastern China, where it had defined 157 million ounces of indicated and inferred silver resources.
Minco Silver forecloses on Sterling Mining
23rd Feb 2009, 12:00 am
Minco Silver Corp said it has filed an action to foreclose on Sterling Mining Co and has been granted a temporary order restraining Sterling from removing, selling, destroying, disposing of or concealing assets.
The District Court of the of the State of Idaho for the County of Shoshone has appointed a receiver to handle the matter.
Minco Silver extended a US$5 million loan to Sterling in July 2008 to meet general working capital requirements and operating expenses of the Sunshine mine. The loan was secured by all assets including all the personal and real property of Sterling Mining, including the Sunshine mining lease.
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