12:08 PM EDT, 04/12/2024 (MT Newswires) -- Elevation Gold Mining ( EVGDF ) on Friday provided an update on a claim filed by Patriot Gold in the Arizona State Superior Court.

The claim was filed after the company earlier this month temporarily halted its royalty/finder fee payments and silver stream delivery obligations because of lower-than-expected production to preserve sufficient liquidity for the continued operation of the Moss Mine.

The company said it is in talks with Patriot to resolve the claim without litigation.

Patriot Gold, which holds a 3% net smelter returns royalty on the Moss Mine, filed the claim for payment of amounts owed under the NSR royalty.

The company's shares were last seen down C$0.005 to C$0.08 on the TSX Venture Exchange.

Price: 0.08, Change: -0.01, Percent Change: -5.88