On November 4, 2025, the Civil Chamber of the Superior Tribunal of Justice of Zacatecas, Mexico, the Appellate Court, confirmed the June 16, 2025 ruling upholding the Minera Portree's (MPZ) entitlement to royalties stemming from a January 11, 2002 mining contract and rejected the appeals filed by defendants Raúl González Anaya, Capstone Gold S.A. de C.V., and third-party Gerardo González García.

 

In the original ordinary commercial trial (case number 411/2022), initiated by Luis Emilio Villanueva, Sole Administrator and General Attorney-in-Fact of Minera Portree, the Third Commercial Court of the Judicial District of the Capital ruled on June 16, 2025, that the defendants had improperly transferred and exploited royalties without authorization. The court found that Raúl González Anaya exceeded his granted powers under a May 20, 2010, legal act, which was declared nonexistent, leading to the unauthorized sale of royalties belonging to Minera Portree.

The Appellate Court, in its unanimous decision, deemed the appellants' arguments inoperative and inadmissible, affirming that the core issues of royalty recognition and payment were not effectively challenged. The ruling requires Raúl González Anaya, Gerardo González García, and Capstone Gold S.A. de C.V. (a fully owned subsidiary of Capstone Copper Corp.) to cover all procedural expenses and costs from both instances, in accordance with Article 1084 of the Federal Commercial Code of Mexico.

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Key Highlights from the Ruling:

• Confirmation of First-Instance Decision: The Appellate Court fully upheld the June 16, 2025, ruling, confirming Minera Portree's rights to royalties from the 2002 contract and declaring the 2019 transfer act nonexistent.

• Rejection of Appeals: Appellants' grievances were dismissed as they failed to address core issues like royalty entitlement, focusing instead on unrelated matters such as mining exploitation details.

• Unauthorized Transfer Finding: Raúl González Anaya was determined to have sold royalties without proper authorization, exceeding his powers and effectively dealing in another's property.