Silver Elephant expects arbitrator decision by year-end

Executive Summary

• Silver Elephant Mining Corp. completed a five‑day arbitration hearing in Vancouver (Nov 3‑7, 2025) against Andean Precious Metals Corp. over an unpaid $1 million plus interest and costs.
• The dispute stems from Andean’s failure to remit payment required under the Master Service Agreement and Sales & Purchase Agreement dated Sept 11, 2023 after silver prices exceeded $28/oz for 260 trading days.
• The arbitrator has set a deadline of Nov 21, 2025 for both parties to submit closing statements and cost submissions; a final award is expected before the end of 2025.

Key Details

• Arbitration hearing: Held in Vancouver, B.C., from November 3 to November 7, 2025.
• Claim amount: $1,000,000 U.S. principal plus accrued interest and legal costs.
• Underlying agreements: Master Service Agreement (MSA) and Sales & Purchase Agreement (SPA) executed on September 11, 2023.
• Trigger for additional consideration: Silver price averaged above US$28 per ounce for 260 trading days; condition met on December 18, 2024.
• Default event: Andean failed to pay within the contractual cure period, leading Silver Elephant to terminate the MSA and SPA on December 31, 2024 and commence arbitration on January 14, 2025.
• Arbitrator’s directive: Both parties must provide closing statements and cost submissions by November 21, 2025.
• Next steps: Arbitrator will close proceedings after submissions and render a final decision before the end of 2025.

Notable Quotes

(No direct quotes were provided in the release.)