Claimant’s Reply on the Merits

Opening of the document

IN THE MATTER OF AN ARBITRATION UNDER ICSID CASE NO. ARB/24/23 THE RULES OF THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES ALMADEN MINERALS LTD. ALMADEX MINERALS LTD. -andTHE UNITED MEXICAN STATES CLAIMANTS’ REPLY TABLE OF CONTENTS Mexico’s Attempt To Recast Almaden And Almadex As Irresponsible Foreign Economía Repeatedly Affirmed The Validity And Good Standing Of The Mineral Mexico’s Mining Law And Regulations Established A Structured Concession Economía Approved And Repeatedly Affirmed The Validity Of The Cerro Almaden Made Significant Investments To Advance The Ixtaca Project Toward Almaden Published an NI 43-101-Compliant Feasibility Study, Demonstrating Almaden Secured …