A unit of Goldstake Explorations (TSE) is suing Homestake Mining (NYSE) and its wholly owned subsidiary, Whitewood Development.
Goldstake launched the action in the U.S. District Court for Colorado. It alleges breach of contract, interference with contractual relations, breach of covenant of good faith and fair dealing, breach of fiduciary duty, and deceit.
Unspecified general and punitive damages have been demanded. The dispute pertains to the Whitewood Creek joint venture and development of tailings deposited along the bed of Whitewood Creek in South Dakota. Homestake, as operator, decided not to proceed, despite the objections of its partner.
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