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EMX settles Barrick litigation

21st February 2022

By: Creamer Media Reporter

     

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Precious and base metals royalty company EMX says its subsidiary Bullion Monarch Mining has reached a settlement with major Barrick Gold with respect to a claim of nonpayment of royalties on production in the Carlin trend, Nevada.

Pursuant to the settlement, Barrick will pay Bullion $25-million, of which $6.175-million is owed as payment of the contingency fee to Bullion’s Reno, Nevada lawyers.

Bullion initiated litigation in 2008, before EMX acquired the company in 2012.

EMX says the settlement does not affect its 1% gross smelter return royalty from portions of Nevada Gold Mines’ Leeville, Turf and other underground gold mining operations.

Edited by Creamer Media Reporter

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