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Andean denies allegations of any default by Andean under the MSA, including the payment obligation of $1-million (U.S.), and considers Silver Elephant's termination of the MSA to be wrongful and without merit. Prior to the bad faith and wrongful termination, Silver Elephant had failed to fulfill several material obligations under the MSA. These include maintaining its mining production contract with Comibol, permitting the mining of oxide minerals across all its mining areas and providing the necessary access for Andean to acquire oxide minerals in line with the agreed mining plan.
The company is actively working with outside legal counsel to address this matter and intends to dispute the wrongful termination of the MSA.
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