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EMX and Barrick settle Carlin royalty dispute

EMX Royalty Corp has settled a payment dispute with giant Canadian miner Barrick Gold over royalties related to production from properties in the Carlin trend in Nevada, US.
EMX and Barrick settle Carlin royalty dispute EMX and Barrick settle Carlin royalty dispute EMX and Barrick settle Carlin royalty dispute EMX and Barrick settle Carlin royalty dispute EMX and Barrick settle Carlin royalty dispute

Nathan Richardson

 

The settlement meant Barrick would pay EMX wholly-owned subsidiary Bullion Monarch US$25 million, of which US$6.175 million is owed as payment for Bullion's lawyers in Nevada. 

The settlement comes after years of litigation being pursued in both state and federal courts, with Bullion claiming the non-payment of royalties on production from the Carlin trend properties. 

"The settlement of the lawsuit does not affect our 1% gross smelter return royalty from portions of Nevada Gold Mines' Leeville, Turf and other underground gold mining operations, which will continue to be paid," EMX said. 

Shares in EMX traded on the Toronto Stock Exchange at a two-month high of C$3.09 on February 20, having risen 3%. The company had a market capitalisation of C$325.56 million. 

On the same day, Barrick traded on the TSX at C$29.53/share, with a market capitalisation of C$52.54 billion.