Gold and GemStone Mining Inc. http://www.ggsmining.com/ The Company
GGSM is a U.S. based mining company with a particular focus on the exploration, development and production of small scale alluvial gold and diamond mining projects in the country of Sierra Leone, West Africa.
The Company's accredited senior management has deep-rooted relations within the mining industry of Sierra Leone. GGSM wishes to develop a strong asset base that will provide an opportunity for continued expansion into the surrounding neighbours of Africa as well as internationally.
The Directors of GGSM are acutely focused on the local communities philanthropically in which their mining operations will be developed, in doing so helping to ensure a long lasting and mutually beneficial relationship for years to come.
The company, in an equally owned Joint Venture with local landowners shares the rights to mine 3 concessions. These concessions are situated within the Kono District, Sierra Leone's prominent alluvial mining region for gold and diamond projects. These rights are conditional upon on the successful funding of the Joint Venture by GGSM within 12 months of the concessions transfer to the Joint Venture.
GGSM is incorporated under the laws of Nevada, USA, with the specific aim of acquiring and developing mining rights and assets in areas with proven mining activities.
GGSM has adopted a lean and agile management strategy by leveraging partnerships and joint ventures with proven mining companies and geologists, the ultimate objective always being rapid and successful production. The company near term focus is on the full funding, development and production of its first 3 mining concessions.
The management team has identified several key companies with which to form Joint Venture Agreements for the exploitation of highly sought after gold and diamond resources in Sierra Leone and have successfully executed on a number of very exciting projects with a local established mining company in Sierra Leone. More information on these JVs can be viewed on the Home and Projects sections of this website.
The company is in the process of adding more companies and concessions to its current mining portfolio, again within a particular focus on alluvial mining projects for precious metals and gemstones.
GGSM will continue toward its goal of full funding for its JV partners and progress into the production phase of the company's development while, in addition, continuing to utilize its worldwide network of business partners to identify the next series of projects with which to focus and develop.
GGSM has an unprecedented opportunity to rapidly expand its production capabilities across highly productive alluvial mining territories in Sierra Leone, West Africa and is set to become a leading mid-tier producer of gemstone quality diamonds and high quality gold.
GGSM.OB - Gold and Gemstone Mining research report by Spectrum Research Group is available for free download.
GGSM is a mining investment company focusing on developing diamond and gold concessions - through joint ventures - in Sierra Leone.
One of GGSM's unique advantage is their keen ability to forge local relationships that help them get privileged access to mining lands and other resources.
Learn more about GGSM an interesting mining company with an eye to becoming a leading mid-tier diamond & gold producer. Mining in Sierra Leon
The largest diamond ever discovered was in 2002 in Kono district, weighing 1440ct and was sold for 75 million dollars in Belgium. Other large stones include the 'Star of Sierra Leone', weighed 969.8ct (see picture below), discovered in February 1972 at the No.11 Plant in Kono. In 1970, the Sefadu diamond was discovered in the Dominco mine, weighing 620ct. In 1969, the ":Zale light of peace" weighing 435ct was discovered. In 1996, two stones weighing 188ct and 283ct; and in 1997, several large stones weighing 524ct, 700ct and 900ct; were recovered from unspecified locations. In 2006, a 152.42ct diamond was discovered east of Koidu Town. In 2007, two pieces weighing 143.4ct and 129.7ct were discovered.
GGSM is initially focused on the exploration of its current Joint Venture alluvial mining projects in Sierra Leone.
The Company has specific exploration and production objectives:
GGSM's business strategy is to achieve profitable growth as a producer/supplier of gem quality diamonds and fine quality gold. Management is also focused on identifying, acquiring and developing further mining assets in proven hi-yielding mining areas of Africa.
| ||To fund the continued exploration and development of all 3 current alluvial diamond and gold concessions in Sierra Leone Chiefdoms in which JV agreements already exist. |
| ||To seek fresh concessions within known diamond & gold mining areas via our exclusive relationship with our local partners, which provides privileged knowledge and access to Paramount Chiefs and Mining experts in Sierra Leone. |
| ||To closely manage, monitor and secure the complete supply chain for bringing high quality diamonds and gold to the market via various fronts utilizing our existing relationships with diamond and gold vaults in major cities across the US, South Africa, Europe & China |
To further introduce Gold & GemStone Mining Inc (GGSM) you to, we've developed a variety of promotional and marketing material documents that detailing our work. Please feel free to download and distribute these documents.
Click here to view all GGSM related information that is avalable on the internet.
GGSM has secured exclusive mining rights to over 105 acres of prime alluvial mining territory in the Kono District, Sierra Leone's prominent diamond mining region.
The Sierra Leone project has a large number of mining concessions currently split across three separate Chiefdoms in Kono. These concessions are located on the banks of the Sewa River, which is the main diamond bearing river in Sierra Leone.
Alluvial gold is also present in practically all river/stream gravels throughout the country at varying grades. These are increasing up to 5 and even 10 g/T in streams running from the Nimini Hills, Gori Hills and several other hill ridges composed of the greenstone complex in which the GGSM Mining concessions reside.
GGSM's local partner has strong relationships with various Paramount Chiefs and community leaders, along with a clear understanding of the political environment in Sierra Leone. GGSM has been given assurances from advanced discussions with the various paramount chiefs and community elders in Sierra Leone that these projects will be expanded upon once the joint venture operation has initiated full production.
GGSM has an excellent opportunity to gain privileged access to large areas of un-mined mineral rich territory across the country. With this opportunity management recognizes the responsibility to establish a strict code of ethical mining and re-investment in local communities to help promote and establish Sierra Leone as a leading mining Country of Western Africa.
GGSM has worked very hard to receive the clearance (or concession) from local authorities to go ahead with mining operations, so that gold and diamonds can begin to be extracted from their three current claims which are sprawled over three separate chiefdoms.
The company's near term focus is on the full funding, development and production of its first mining concessions, from which several instances of sampling have produced promising results.
The results show an average 56 carats per hundred-ton of high quality diamonds, slightly above the average grade of stones coming out of the region.
Equally impressive data is found, in relation to the incidence of gold with sampling taken from a total of 270 tonnes of gravel showing 62 grams /hundred ton at a purity rate of 96.4%. Project Sandia
50 Acres situated on the banks of the Sewa River in the Nimiyama Chiefdom
25 Acres of diamond and gold bearing land in the Nimikoro Chiefdom
30 Acres of diamond and gold bearing land in the Sandor Chiefdom with an additional 50 acres available upon commencing mining The Mining Concessions are split across three separate Chiefdoms; the Sandia Concession (Nimiyama Chiefdom) , the Nyamundu concession (Nimikoro Chiefdom) & the Kambaya Concession (Sandoh Chiefdom). These concessions are all in the Kono District which is located in the north eastern region of Sierra Leone. The below map of Sierra Leone outlines (in red) the location of the Kono District:
The three concessions are located on and around the banks of the Sewa River, which is the main diamond bearing river in Sierra Leone. The Sewa River is the most important commercial stream in Sierra Leone and is formed by the junction of the Bagbe and Bafi rivers, which rise in the northeastern part of the country near the Guinea border; it flows for 150 miles (240 km) in a south-southwesterly direction.
Specifically, these claims and sizes are as follows:
Nimiyama Chiefdom (The Sandia Concession) - 50 Acres situated on the banks of the Sewa River Grid Co-ordinates: X Y
RB01 249305 958997
RB02 249124 958818
RB03 248985 958565
RB04 248779 958489
RB05 248687 958697
RB06 248944 959156
The Nimiyama Chiefdom has granted the Sandia concession near Madina Villiage (grid reference 8.522626,-11.257639)which is 17km South on rough roads tothe nearest town which is Njaiama-Sewafe (Grid reference 8.543337,-11.243305). From Njaiama-Sewafe it is about a 35km drive North East by main road to Yengema Airport (grid reference 8.621926,-11.044178) and a further 12km East by main road to the Koidu City (grid reference 8.650948,-10.973282).. The journey by car from Njaiama-Sewafe to Koidu City is approximately 40minutes. There is no railway in the location of the concession. The road from Njaiama-Sewafe to the Sandia concession is serviceable by motor vehicle but is very rough and there may be some remedial works required for heavy plant machinery access. There is no electricity in the local town or at the concession area so the site would rely upon generators to begin operations. There is good mobile phone network coverage in the area.
Nimikoro Chiefdom (The Nyamundu Concession) - 25 Acres of diamond and gold exploration land in the Nimikoro Chiefdom. The total claim area is 87 acres but RMSL has been granted an initial 25 acre concession with the option to extend later.
|Grid Co-ordinates: ||X ||Y |
|RG01 ||270992 ||949421 |
|RG02 ||270840 ||949443 |
|RG03 ||270810 ||949410 |
|RG04 ||270792 ||949334 |
|Grid Co-ordinates: ||X ||Y |
|RG05 ||270741 ||949298 |
|RG06 ||270628 ||949404 |
|RG07 ||270457 ||949609 |
|RG08 ||270647 ||950328 |
|RG09 ||270741 ||950338 |
|RG10 ||270790 ||950302 |
|RG11 ||270788 ||950041 |
|RG12 ||270971 ||950028 |
|RG13 ||270950 ||949946 |
|RG14 ||270954 ||949712 |
The Nimikoro Chiefdom has granted the Nyamandu concession (grid reference 8.676318,-11.154692) located close to the town Nyamandu, it is a further 3km North to the main road junction at Bumpeh (grid reference 8.69473,-11.166916). From Bumpeh it is approximately 18km South East by main road to Yengema Airport (grid reference 8.621926,-11.044178) and it is a further 12km East to the nearest major city which is Koidu City (grid reference 8.650948,-10.973282). To travel to the airport or Koidu you must catch a ferry to cross the Sewa River. There is no railway in the location of the concession. The road from Nyamandu is serviceable by motor vehicle but is very rough and there may be some remedial works required for heavy plant machinery access. There is no electricity in the local town or at the concession area so the site would rely upon generators to begin operations. There is good mobile phone network coverage in the area.
Sandoh Chiefdom (The Kambaya Concession) - 30 Acres of diamond and gold exploration land in the Sandoh Chiefdom with an additional 50 acres available upon commencing of mining operations.
|Grid Co-ordinates: ||X ||Y |
|RG01 ||264623 ||960344 |
|RG02 ||264550 ||960183 |
|RG03 ||264328 ||960252 |
|RG04 ||264122 ||960429 |
|RG05 ||264051 ||960618 |
|RG06 ||264213 ||960659 |
|RG07 ||264246 ||960533 |
|RG08 ||264356 ||960410 |
|RG09 ||264475 ||960354 |
The Sandoh Chiefdom has granted a concession near Kambaya (grid reference 8.69299,-11.149449). The nearest airport is Yengema Airport (grid reference 8.621926,-11.044178) which is 16km East of Kambaya by main road. The nearest major city is Koidu City (grid reference 8.650948,-10.973282) which is a further 12km East from the airport by main road. The journey from Kambaya to Koidu City is approximately one hour by car. To travel to the airport or Koidu you must catch a ferry to cross the Sewa River. . There is no railway in the location of the concession. The short road from Kambaya to the specific concession site is serviceable by motor vehicle but is very rough and there may be some remedial works required for heavy plant machinery access. There is no electricity in the local town or at the concession area so the site would rely upon generators to begin operations. There is good mobile phone network coverage in the area.
Access to the country interior from Freetown, the capital of Sierra Leone, is by a combination of paved and dirt roads And it is approximately 200 miles between Freetown and Yengema Airport. New hydroelectric schemes are being developed to help address the electricity needs of the country's power grids. Communications have improved significantly in the last few years, with the mobile phone network being regularly extended. Coverage now reaches most population centers and main roads.
Key to locations on the following maps:
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|(3) ||Articles of Incorporation and Bylaws |
|3.1 ||Articles of Incorporation (incorporated by reference from our Registration Statement on Form S-1 filed on April 7, 2010). |
|3.2 ||By-laws (incorporated by reference from our Registration Statement on Form S-1 filed on April 7, 2010). |
|3.3 ||Certificate of Amendment filed with the Nevada Secretary of State on April 24, 2012 (incorporated by reference from our Current Report on Form 8-K filed on April 30, 2012). |
|3.4 ||Certificate of Incorporation of Gold and Gemstone Mining S.L. Limited (incorporated by reference from our Current Report on Form 8-K filed on October 9, 2012) . |
|3.5 ||Certificate of Mining Registration of Gold and Gemstone Mining S.L. Limited (incorporated by reference from our Current Report on Form 8-K filed on October 9, 2012) . |
|(10) ||Material Contracts |
|10.1 ||Agreement dated February 25, 2010 by and between our company and XTEK (incorporated by reference from our Registration Statement on Form S-1 filed on April 7, 2010). |
|10.2 ||Collaboration Agreement with Ridgeback Mining (Sierra Leone) Limited dated May 4, 2012 (incorporated by reference from our Current Report on Form 8-K filed on May 4, 2012). |
|10.3 ||Letter Agreement between Ridgeback Mining (Sierra Leone) Limited and the Nimiyama Chiefdom with respect to the Nimiyama concession (incorporated by reference from our Current Report on Form 8-K filed on May 4, 2012). |
|10.4 ||Letter Agreement between Ridgeback Mining (Sierra Leone) Limited and the Nimikoro Chiefdom with respect to the Nimikoro concession (incorporated by reference from our Current Report on Form 8-K filed on May 4, 2012). |
|10.5 ||Letter Agreement between Ridgeback Mining (Sierra Leone) Limited and the Sandoh Chiefdom with respect to the Sandoh concession (incorporated by reference from our Current Report on Form 8-K filed on May 4, 2012). |
|10.6 ||Letter Agreement between Ridgeback Mining (Sierra Leone) Limited and the Nimikoro Chiefdom for the extension of the Nimikoro Concession dated May 25, 2012 (incorporated by reference from our Current Report on Form 8-K filed on May 30, 2012). |
|10.7 ||Letter Agreement between Ridgeback Mining (Sierra Leone) Limited and the Nimiyama Chiefdom for the extension of the Nimiyama Concession dated May 18, 2012 (incorporated by reference from our Current Report on Form 8-K filed on May 25, 2012). |
|10.8 ||Assignment Notice to the Nimiyama Chiefdom delivered on October 22, 2012. |
|10.9 ||Assignment Notice to the Nimikoro Chiefdom delivered on October 22, 2012. |
Ms. Charmaine King - CEO LATEST NEWS!!!!!
http://www.ggsmining.com/news.asp On May 4, 2012, the Company effected a 45:1 share split. At the same time, 180,000,000 shares of common stock were returned for voluntary
Total shares of common stock outstanding as of October 31, 2012 and 2011 were 150,750,000 and 7,350,000 respectively. http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8972095 Effective February 8, 2013,
our company entered into a collaboration agreement with Tell Mining Group (the "Tell Agreement") for the
exploration and development of mineral properties in Africa. Tell Mining is an active owner and developer of gold mining concessions in
Ghana (the "Concessions"). Each Concession constitutes a separate mining project. The agreement contemplates the creation of a joint venture
company in Ghana (the "JV Company") for which our company and Tell Mining Group shall each hold 50% of the issued and outstanding
ordinary shares of the JV Company. Our company is required to deposit $10,000 cash with Tell Mining prior to commencement of mining
along with 15% of net profits once in production, paid quarterly per Concession. The term of the agreement is 5 years.
The foregoing description of the Tell Agreement is all qualified in its entirety by the contents of the agreement attached as an exhibit to this
current report. Due to conditions precedent to closing, specifically the financial obligations required of our company, and the risk that these
conditions precedent will not be satisfied, there is no assurance that our company will be able to close any of this agreement and acquire an
interest in the properties. http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9077253
|Market Value1 ||$5,879,250 ||a/o Feb 14, 2013 |
|Shares Outstanding ||150,750,000 ||a/o Dec 13, 2012 |
|Float ||7,350,000 |
|Authorized Shares ||400,000,000 |
|Par Value ||0.001 |
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