Azucar Minerals Ltd (OTCMKTS:AXDDF) Stock In Focus After Recent Development

Last week Azucar Minerals Ltd (OTCMKTS:AXDDF) was in the news after the company made an announcement with regards to its El Cobre project. The company noted that it had received a communique from the Directorate General of Mining (“DGM”), a part of the Ministry of the Economy of Mexico in relation to the injunction that had been placed on Economia by the District Court of Veracruz.

Trading Data

On Friday, AXDDF stock lost 0.89% to $0.0610 with more than 9.60K shares, compared to volume of 33.62K shares. The stock moved within a range of $0.0610 – 0.0610 after opening trade at $0.0610.

Azucar Reports Receipt of Order from Mexico’s Ministry of Economy regarding the El Cobre Project, Veracruz, Mexico

The injunction was with regards to the 24 concessions in Veracruz that also included concessions in an area that also covered the El Cobre project. The communique that ran into three pages noted that in 2022 33 people had filed an amparo lawsuit at the First District Court with regards to their rights to clean water and environment among other things in addition to their right to be involved with any decisions which could affect them.

The lawsuit had been filed against the mining authorities in Mexico and the communication indicated that it had been alleged that the concessions offered to the mining companies were going to affect the rights of the plaintiffs. The plaintiffs had hence asked for an injunctions and it appeared, as per the communique, that the injunction had been granted.