Mercur mine lawsuit postponed until fall

The Mercur mine lawsuit involving American Barrick Resources (TSE) and Utah exploration company Gold Standard (NASDAQ) probably won’t be tried until later this year. Originally scheduled to begin April 30 in Tooele, Utah, the trial has been postponed until the judge considers a number of motions put forward by American Barrick.

Barrick recently filed 14 motions for partial summary judgment covering all of the remaining claims on the case, according to chief financial officer Gregory Wilkins.

“The judge won’t set a trial date until he has had a chance to consider the motions,” he said.

In its statement of claim, Gold Standard says among other things that its previously held 25% interest in Barrick’s Mercur mine was wrongly converted by the mine’s previous owners to a 15% net profits interest.

Last year, the Utah operation produced 117,536 oz. gold at a cash cost of US$253 per oz.