Former president of USMX named in Nevada lawsuit

USMX has filed a suit in Nevada alleging a breach of fiduciary duty by Gary Grauberger, who served as the company’s president from 1979 to March 1, 1986. Grauberger was also a company director and worked as a consultant for USMX for several months in 1986 after he resigned. USMX says Grauberger was paid as a company employee until June, 1987.

The claims in question are situated in the Goldbanks Hills region of the state. According to USMX, another company, which had been exploring the claims, failed in 1986 to file an affidavit of annual assessment work and on Sept 1 of that year, Grauberger began staking claims in the area in the name of a company he owns.

USMX says it has been active in the area since 1980, the year it staked six claims of its own there. In its statement of claim, the company says Grauberger served as its chief explorationist.

Part of the USMX case involves missing files, which the company says only came to its attention this February. The company’s statement also refers to an amended employment agreement. The company says the claims in question rightfully belong to USMX.

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