Global Gold Corp. (GBGD)

[eom7]

51% worth $40MM in IPO.

_________________________________________________________________
Key terms include that Global Gold Corporation will retain 51% of the shares of GGCR, which will be a subsidiary of the Company, per the terms of the April 27, 2011 Joint Venture Agreement as approved and described above.

__________________________________________________________________

WHEREAS, GGCR, pursuant to the JV Agreement, will issue new shares to the Corporation such that following any reverse merger or initial public offering of GGCR's shares ("IPO"), the Corporation shall directly or indirectly hold the greater of (a) 51% of the equity of GGCR, or (b) $40.0 million in newly issued stock of GGCR, calculated based on the volume weighted average price ("VWAP") of such shares over the first 30 (thirty) days of trading following the IPO, assuming issuance of all shares issuable in the IPO, and assuming issuance of all Shares issuable as Management Shares and conversion of the Notes issued under the Instrument (as defined hereinafter) and all other convertible securities and exercise of any warrants or other securities issued in connection with the IPO, such that if following any reverse merger or IPO, the value of $40.0 million in newly issued shares based on VWAP of GGCR shares is greater than the Corporation's 51% equity ownership in GGCR valued as above, new shares in GGCR will be issued to the Corporation such that the aggregate value of the Corporation's ownership in GGCR is shares having a value of $40.0 million based on VWAP, subject to CRA, at its election, or as mutually agreed otherwise between Corporation and CRA, substituting cash for stock (the "Cash Election") in an amount of up to $12.5 million in cash to increase CRA's ownership based on a ratio of $784,314 for each 1% of existing shares of GGCR then held by CRA up to 49% or as mutually agreed otherwise;

[eom7]

Added.

[eom7]

Nice news... they just got a major mine back!

[the cork]

Howdy herplacebytheriver and thanks! Good plan too. I think you got a good chance of picking those up at that price.

Global has been a real money maker for folks able to take advantage of the volatility !

Here's to Global success and everybody making money!









/

[herplacebytheriver]

The cork,
Welcome!
Its very encouraging to read you here.Your board is one of the best on Ihub.

I bought some shares at 0.17 and will again wait for this price.
h.

[eom7]

Mega cash flows at $400/oz... This should be trading at .50 minimum.

[woje]

"Today, Global has successfully upgraded its plant with two new mills to process 300,000 tonnes of ore per year to produce over 15,000 ounces of gold as an interim expansion. Prior plans to process 1.5 million tonnes of ore per year are being revised in light of potential expansion. Average cost per ounce continues to be an estimated $400."

It IS good to know the upgrade is complete, I had been wondering. The low cost of production here is very nice.


"In Chile, our major alluvial property was sold to Amarant Mining in 2011, and we have returned to an exploration focus there."

I did not know this.

[eom7]

that's for sure...

[woje]

Nice to see some trading going on today too.

[eom7]

GBGD .189 - looks like the upgrade is complete, JV moving forward:

17th Moscow CIS Precious Metals Summit
February 14, 2012
http://globalgoldcorp.com/docs/20120214_GlobalGoldMoscow.pdf

For the February 12, 2012 Global Gold Shareholders Consent to Agreement
http://globalgoldcorp.com/docs/2012Feb12_Global_Gold_Shareholders_Consent_to_Agreement.pdf

[the cork]

GBGD Global Gold (.189) 15,000 ounce per year producing Gold mining and exploration company operating three properties in Armenia. Largest gold exploration license holder in the country. Toukhmanuk property tested 2.6 million ounce gold and 17.8 million ounce silver at average grades of 2.1 g/t and 14.1 g/t, respectively. Initial production to 15,000 ounces per year. Two new mills are installed and in testing, with further near-term improvements to boost plant capacity and recoveries. Expansion to an industrial production level of 133,000 ounces per year.

Two concentrate shipments of 60 tons each are proceeding to offtaker Industrial Minerals in October and further shipments will follow as milling ramps up throughout the winter.

Website: http://www.globalgoldcorp.com/
Pink Sheets: http://www.otcmarkets.com/stock/gbgd/quote
IHUB: http://investorshub.advfn.com/boards/board.aspx?board_id=13158


img]stockcharts.com/c-sc/sc?s=gbgd&p=d&yr=1&mn=0&dy=0&id=p79679029025[/img]

[woje]

Would be nice to get an update from the company soon.

[woje]

Just waiting for something to happen here. That technical report I referred to really looks promising, IMO.

[futrcash]

What scumbags! Interesting legal development for sure!

futr

[woje]

News today: Court of Appeals Confirms Marjan Mine and Marjan Mining Company, LLC in Armenia to Revert to Global Gold Ownership After Ille...
Date : 12/12/2011 @ 4:41PM
Source : GlobeNewswire Inc.
Stock : Global Gold Corporation (GBGD)
Quote : 0.126 -0.024 (-16.00%) @ 3:35PM


Global Gold Corporation (OTCQB:GBGD) is pleased to announce that on Monday December 12, 2011 the Armenian Court of Appeals issued a decision affirming the July 29, 2011 Armenian court verdict which ruled that Caldera Resources, Inc.'s ("Caldera") registration and assumption of control through unilateral charter changes of the Marjan Mine and Marjan Mining Company, LLC were illegal and that ownership rests fully with Global Gold Mining, LLC (a wholly owned subsidiary of Global Gold Corporation). The official version of the Armenian Court decision is available through http://www.datalex.am/. Absent any further appeals, the decision becomes effective on January 12, 2012. On November 17, 2011, in a separate arbitration proceeding in New York, the arbitrator issued an interim order precluding the sale or pledging of the shares; the same order also explicitly provided that it would not act as a stay on any other court proceedings.

Based on Caldera's report of TSX-V approval, on June 17, 2010, Global Gold and Caldera announced they were proceeding with their March 24, 2010 joint venture agreement to explore and bring the Marjan property into commercial production. In late August 2010, Global learned that Caldera had circumvented the agreement by unilaterally and illegally registering changes to the Armenian project company's charter to Global's detriment. Such changes could only have been properly made with the signature of one of three authorized Global officers. However, Caldera was somehow able to register changes without Global's consent or knowledge. Without even advising Global that it had made those changes to take control, Caldera tried to have Global sign a resolution that would have authorized Caldera's illegal acts. Global refused. In addition, Caldera advised that it would not be performing the mining license requirements, failed to perform, and materially breached the agreements in other ways. After a detailed notice sent on September 2, 2010 and attempts to work out a solution failed, Global filed an action in the appropriate Armenian court to rescind the illegal registration on September 22, 2010, and terminated the joint venture with Caldera on October 7, 2010. Global had agreed to keep the termination notice confidential until October 15, 2010, all as previously reported in Global's SEC filings.

On April 10, 2010 Caldera wrote to Global that "any claims of illegal registrations and request for changes must be addressed to Administrative Court in Armenia." Later, Caldera intervened in the Armenian case as a third party, and repeatedly delayed adjudication for months, using questionable tactics. After trial, court examination, and a 22 page opinion, the July 29 verdict reinstated Global as the sole shareholder of Marjan Mining Company. The lower court specifically identified both Caldera's President Vasilios (Bill) Mavridis and its country representative Azat Vartanian as responsible for Caldera's actions in this case. Global has a security interest freezing the shares of Marjan Mining Company pending the formal turn-over or any appeal.

The December 12, 2011 54 page opinion concluded that the "Court of Appeals found that all material evidence necessary for the resolution of this case have already been duly examined and evaluated by the Administrative Court." Further, the "Court of Appeals found that the conclusion made by the Administrative Court that the application by Marjan Caldera Mining, LLC to make changes of the ownership of shares of Marjan Mining Company, LLC was made by the person not having such authorities is valid," and that the appeal filed by Caldera Resources, Inc aimed at revoking the Administrative Court's decision "is not substantiated and shall be rejected."

Independently, there is an arbitration pending in New York where Caldera is seeking confirmation through the American Arbitration Association of the joint venture's existence, and Global is seeking damages for accrued but unpaid amounts while Caldera maintained illegal possession of the Marjan property ($1.35 million as of September 30, 2011), interest at the contractual rate of 10%, the lost value of the 500,000 shares of stock Caldera failed to deliver in June 2010, and for Caldera's other breaches, non-performance, and attacks on Global. Among other things, subject to a 30 day extension if it could not raise the funds in capital markets, Caldera agreed to make $300,000 payments to the Company on September 30, 2010 and December 31, 2010; $250,000 payments on March 30, 2011, June 30, 2011, September 30, 2011, December 30, 2011, March 30, 2012, June 30, 2012, and September 30, 2012; and a $500,000 payment on December 31, 2012. Caldera raised sufficient funds, but did not make the payments as due, while ignoring the joint venture terms.

The Marjan mining property is located in Southwestern Armenia, along the Nakichevan border in the Syunik province. Further information is available on the Global Gold Corporation website www.globalgoldcorp.com.

Forward-looking Statements — To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Global Gold Corporation www.globalgoldcorp.com is an international gold mining, development, and exploration company operating in Armenia and Chile. The Company is committed to building shareholder value and maintaining social and environmental responsibilities.

CONTACT: Drury J. Gallagher
Global Gold Corporation
International Corporate Center at Rye
555 Theodore Fremd Avenue, Suite C208
Rye, New York 10580
Tel: [phone]
Fax: [phone]
[e-mail]
www.globalgoldcorp.com

[eom7]

This one kills me... I know some day its gonna run big. Lack of news hurts here IMO.

The way those shares were sold my guess someone was doing some position squaring for taxes... just a guess though.

[teomax]

anybody know whats going on? almost half milion shares dumped by the open of market

[eom7]

With that report GBGD is the most undervalue Gold miner I can find.

I try and add anytime someone sells under .15!

[woje]

Here's the link to that 43-101 compliant Oct. 17 technical report, if anyone's interested:

http://www.globalgoldcorp.com/docs/20111017_J11_163_Global_Gold_Toukhmanuk_and_Getik_43_101_report.pdf

[eom7]

Yep.

[woje]

Another thing I really like is how GBGD's management appears to consist of extremely talented and capable people.

http://www.globalgoldcorp.com/boardofdirectors.php

[eom7]

Just thinned out considerably here - RADAR.

[eom7]

Still good buy here IMO!

[herplacebytheriver]

Thanks for asking.Unfortunately didnt got back.
For a 2 months I have been stuck in some loosing positions.
Have lost all free GBGD shares.
Uh,small calculating always lose big time.
I'm glad if you are standing well.
h.

[eom7]

Good find IMO!

[woje]

Yep. I just recently found this one and am going to try to start a tiny position this week. It looks like it has great potential, IMO. I especially like the fact that they're interested in doing royalties.

[eom7]

30 Followers

[eom7]

I figured you'd be all over this board with the news today????

[eom7]

Yep on very solid news...

by my calculations this is way, way undervalued!

[GreenTea]

Great news eom!

GLTA!

[GreenTea]

Damn, nice buy!

GLTA!

[eom7]

GBGD .20 ($16MM Mkt Cap) 83 Million OS, 2.6M Oz Gold and 18MM Oz. Silver.

Value per SRK, .60 MM Oz Measured ($204 M,) 1.2MM Oz Indicated ($190MM,) .80MM Oz inferred ($27MM) = $421 MM Mkt Cap / 2 (should be closer to this number or $2.50/share!!!!!!!!) Not including the Silver or any other properties.



Average Stock Market Value per oz of in-situ Gold Resource per SRK:

(Source: EIR, December 2010)

Worldwide
Measured Gold Resources US$340/oz
Indicated Gold Resources US$159/oz
Inferred Gold Resources US$34/oz

See PR from today:

Global Gold and Consolidated Resources Release Independent Technical Report Conforming to NI 43-101 Standards for Toukhmanuk and Getik Properties in Armenia

Oct 17, 2011 8:29:00 AM
2011 GlobeNewswire, Inc.


2.6 Million Ounce Bulk Open Pit Gold-Silver Resource With 1.8 M. Oz. in Measured and Indicated Categories at Toukhmanuk

Recent Discoveries of New Vein and Stockwork Areas and Results of 2011 Drilling Program Expected to Add Significantly to Resource Size and Scale of Long Term Mine Plan

RYE, N.Y., Oct. 17, 2011 (GLOBE NEWSWIRE) -- Global Gold Corporation (OTCQB:GBGD) and privately held Consolidated Resources Armenia are pleased to announce that an updated NI-43-101 format independent technical report prepared by Behre Dolbear International Limited has been completed for the Toukhmanuk and Getik properties in Armenia. At Toukhmanuk, a 2.6 million ounce gold and 17.8 million ounce silver resource at average grades of 2.1 g/t and 14.1 g/t, respectively, using a 0.6 g/t cut-off is reported for the already operating bulk open pit mine.

[eom7]

$20,000 buy .20s gone!

[eom7]

I can not believe the news today has not brought in more buyers~


Maybe we will see a delayed reaction as news spreads.

[eom7]

Did you get back in? Hope we don't see .15 ever again now.

[eom7]

HUGE news: Global Gold and Consolidated Resources Release Independent Technical Report Conforming to NI 43-101 Standards for Toukhmanuk and Getik Properties in Armenia

Oct 17, 2011 8:29:00 AM
2011 GlobeNewswire, Inc.
Close Ad

Email story | Discuss on ZenoBank | View more ads
2.6 Million Ounce Bulk Open Pit Gold-Silver Resource With 1.8 M. Oz. in Measured and Indicated Categories at Toukhmanuk

Recent Discoveries of New Vein and Stockwork Areas and Results of 2011 Drilling Program Expected to Add Significantly to Resource Size and Scale of Long Term Mine Plan

RYE, N.Y., Oct. 17, 2011 (GLOBE NEWSWIRE) -- Global Gold Corporation (OTCQB:GBGD) and privately held Consolidated Resources Armenia are pleased to announce that an updated NI-43-101 format independent technical report prepared by Behre Dolbear International Limited has been completed for the Toukhmanuk and Getik properties in Armenia. At Toukhmanuk, a 2.6 million ounce gold and 17.8 million ounce silver resource at average grades of 2.1 g/t and 14.1 g/t, respectively, using a 0.6 g/t cut-off is reported for the already operating bulk open pit mine. Following a rigorous five month review of drill core, assay and geological data by Behre Dolbear and Gemcom and the creation of a new Surpac resource block model, the comprehensive report was completed and delivered in connection with the advancement of the Global Gold Consolidated Resources joint venture announced in April 2011. A full copy of the report is available on the Global Gold website: www.globalgoldcorp.com. Before relying on any reserve or resource reporting, however, investors should read the "Cautionary Note" and "Forward-Looking Statements" terms included at the end of this release.

For the first time, the report also discloses that in 2011, Global Gold has "uncovered significant unanticipated gold-silver vein zones in a region where the known vein-sets splay and diverge." The new discoveries are vein and stockworks which parallel Global's 2008 discoveries at Toukhmanuk. Those discoveries in 2008 significantly changed the outlook at Toukhmanuk from a narrow vein potential underground mining deposit to a vein and stockwork open pittable deposit with vein zones ranging from 5 to 25 meters wide. The 2011 discoveries have revealed four new vein zones outside of the existing drilling grid and also ranging from 5 to 25 meters wide in the central section. These vein zones, which require further exploration, have already produced ore averaging slightly more than 2 grams per tonne that is being processed at the plant on site.

In addition this year, Global Gold has concluded 4,000 meters of diamond drilling in both the central section and in other parts of the license area. As of today, Global Gold has completed approximately 24,064 meters of diamond drilling at Toukhmanuk (beyond the Soviet era levels of exploration) primarily covering the 2.2km2 central section of the deposit and selected target areas along and outside of the corridor in the broader 53.76 km2 deposit.

Based on exploration and mining work done prior to 2011, the Behre Dolbear report states:

Global Gold has delineated Measured, Indicated and Inferred Mineral Resources, totaling 39.23 Mt at a grade of 2.1 g/t Au and 14.1 g/t Ag in approximately 20% of the 2.2 km2 Central Area of the 53.76 km2 Toukhmanuk deposit. Global Gold used a cut-off of 0.6 g/t Au and applied a rock density of 2.6 as follows:






Resource category Tonnage: Mt Gold: g/t Silver: g/t Contained

Gold: Moz Contained

Silver: Moz
Measured 6.043 3.10 23.83 0.602 4.630
Indicated 18.767 1.99 13.09 1.200 7.907
Measured and Indicated 24.810 2.26 15.71 1.802 12.537
Inferred 14.418 1.73 11.26 0.804 5.233
Total 39.228 2.07 14.07 2.606 17.769
Estimated Measured and Indicated (M&I) resources total 24.81 Mt at 2.26 g/t Au and 15.71 g/t Ag for 1.8 Moz of gold and 12.5 Moz of silver. Inferred resources total 14.42 Mt at 1.73 g/t Au and 11.26 g/t Ag for 0.8 Moz of gold and 5.2 Moz of silver. The resource remains largely unexplored and is open along strike and at depth.

Further updates are anticipated in the next 6 months and on a continuing basis, as results are received from the new discoveries, the recently concluded 4,000 meter diamond drilling program, and further analyses from prior exploration work.

Stripping and mining activity at the deposit has steadily increased from summer to fall this year, with two stages of stripping completed in accordance with the open pit mine plan and mining of ore reaching 1,100 tons per day, adding to an existing ore stockpile that now exceeds 30,000 tons for milling during the winter. Mining is taking place pursuant to Global Gold's mining license and previously reported reserve determinations by the Armenian Government. On October 27 and November 18, 2009, the Company announced the approval of reserves for Toukhmanuk by the Republic of Armenia's State Natural Resources Agency, available at www.globalgoldcorp.com.

The report also includes information on the previously announced initial plant expansion which is progressing well. Two new mills are installed and in testing, along with further near-term improvements to boost plant capacity and recoveries. Two concentrate shipments of 60 tons each are proceeding to offtaker Industrial Minerals in October and further shipments will follow as milling ramps up throughout the winter. The report notes that the plant "has been established without recourse to cyanide reagents, which ensures that the plant meets stringent waste and tailings quality benchmarks and is reputed to be the leading Armenian company in pursuit of sustainable mining and processing practices."

The report also reviews exploration at the 27 km2 Getik property, where exploration activity commenced in the 1920s, noting that Global Gold has done geological mapping, ground geophysical surveys, trenching and a small amount of diamond drilling. The report notes that there is potential for an open pittable deposit, but further exploration is necessary and underway.

The "Qualified Person" responsible for the independent technical report is Christopher J.V. Wheatley, Ph.D., DIC, BSc, MIMMM, SME of Behre Dolbear.

"We recognize that the publication of this independent technical report along with the intensive process involved in its production is extremely beneficial to our company, our shareholders, and our partner Consolidated Resources. This was a team effort, and I particularly want to thank Joe Borkowski and Jeff Marvin as well as our stalwart and reliable Armenia staff and the consultants for their work," said Global Gold Chairman and Chief Executive Van Krikorian. "Along with our significant new discoveries at Toukhmanuk, completion of the updated technical report, and creation of a new Surpac resource block model, we are now planning more robust long term mine plans above the previously planned 1.5 million tonne per year operation to account for more sizeable resources than we had expected. In the interim, we will maintain our current approved production plan and continue to benefit from the practical information advantage and experience stemming from the results of existing mining and processing activities."

Jeffrey Marvin of Consolidated Resources Armenia said, "We are pleased to have this report published as it has given confirmation and recognition of Toukhmanuk as being well-suited for bulk open pit mining. Our understanding of the potential size of this extraordinary gold-silver resource has also increased through the rigorous review and the successful implementation of our strategic plan to achieve several targets involving resource confirmation, plant expansion, and mining activities."

Forward-looking Statements — To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Cautionary Note to U.S. Investors -- All mineral reserves have been estimated and disclosed in accordance with the definition standards on mineral resources and mineral reserves of the Republic of Armenia State Natural Resources Agency as provided by the Republic of Armenia's Regulation for Applying Reserves Classification for Gold Deposits or pursuant to other foreign, international, and non-United States standards.

United States reporting requirements for disclosure of mineral properties are governed by the United States Securities and Exchange Commission "SEC" Industry Guide 7. Armenian, other foreign, international, and Guide 7 standards may not be consistent. The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use terms such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K. You can review and obtain copies of these filings from our website or at www.sec.gov/edgar.shtml. Investors are cautioned not to assume that any part or all of mineral resources will ever be confirmed or converted to Guide 7 compliant "reserves."

Founded in 1911, Behre Dolbear, http://www.dolbear.com is one of the oldest, continually operating minerals industry consulting firms in the world. Gemcom, http://www.gemcomsoftware.com, has become the largest global supplier of mining software solutions and provides both technology and mining consulting services.

Consolidated Resources, headquartered in Singapore, with one of its subsidiary companies, Consolidated Resources Armenia, in the Cayman Islands, is a worldwide resources company that owns strategic or controlling stakes in publicly listed and privately held resource companies having properties in Mozambique, Zambia, South Africa, and Australia. Rasia, a Dubai-based principal advisory and structured investment firm, led the investment transaction.

Global Gold Corporation, www.globalgoldcorp.com, is an international gold exploration, development, and mining company headquartered in the United States and has been active primarily in gold and silver mining in Armenia since 1995 and in Chile since 2003. The Company is committed to building shareholder value and maintaining social and environmental responsibilities.

CONTACT: Drury J. Gallagher
Global Gold Corporation
International Corporate Center at Rye
555 Theodore Fremd Avenue, Suite C208
Rye, New York 10580
Tel: [phone]
Fax: [phone]
[e-mail]
www.globalgoldcorp.com
Source: Global Gold Corporation

[eom7]

.22 x .24

[GreenTea]

Very nice buy. Agreed, good time to accumulate.

GLTA!

[eom7]

60k buy... smart accumulation continues here... large resources 43-101 any day now. 2M OZ's

[eom7]

43-101 due any day... should be a very nice confirmation of a large Gold resource.

[eom7]

Caldera has filed a complaint with the American Arbitration Association against Global Gold Corporation who unilaterally and illegally terminated the JVA between the parties. The binding arbitration hearing is schedule to start on August 23, 2011.

[herplacebytheriver]

0.14?
could be 0.12 next week...
who knows,

[eom7]

.08 low.. man I wish I got those - .14 x .16 large bid just showed up @ .14 after smack down... seller finally done?

Not sure... I am sure however that GBGD is going to have it day (it will be a big day) sooner or later.

[eom7]

Someday this one is going to be a great place to be... the question is when.

[GreenTea]

Great find eom! Gold companies are going to be a great place to be.

GLTA!

[eom7]

Just found this from SRK... puts our value at $1.50 minimum:

Average Stock Market Value per oz of in-situ Gold Resource

(Source: EIR, December 2010)

Worldwide
Measured Gold Resources US$340/oz
Indicated Gold Resources US$159/oz
Inferred Gold Resources US$34/oz

[eom7]

More good news. Some day this go BOOM.

[eom7]

Marjan Mine and Marjan Mining Company, LLC in Armenia to Revert to Full Global Gold Ownership and Control After Court Confirm...
Date : 08/02/2011 @ 11:11AM
Source : GlobeNewswire Inc.
Stock : Global Gold Corporation (GBGD)
Quote : 0.16 0.0 (0.00%) @ 10:32AM

Marjan Mine and Marjan Mining Company, LLC in Armenia to Revert to Full Global Gold Ownership and Control After Court Confirm...
print
Global Gold Corp (QB) (USOTC:GBGD)
Intraday Stock Chart
Today : Tuesday 2 August 2011


Global Gold Corporation (OTCQB:GBGD) is pleased to announce that on Friday July 29, 2011 an Armenian court delivered a verdict confirming that Caldera Resources, Inc.'s ("Caldera") registration and assumption of control through unilateral charter changes of the Marjan Mine and Marjan Mining Company, LLC were illegal and that ownership rests fully with Global Gold Mining, LLC (a wholly owned subsidiary of Global Gold Corporation). The decision becomes effective on August 29, 2011. The official version is available through http://www.datalex.am/.
On June 17, 2010, Global Gold and Caldera Resources, Inc announced TSX-V approval of their March 24, 2010 joint venture agreement to explore and bring the Marjan property into commercial production. In late August, 2010, Global learned that Caldera had circumvented the agreement to unilaterally and illegally register changes to the Armenian project company's charter to Global's detriment. Such changes could only have been made with the signature of one of three authorized Global officers. Caldera was somehow able to register changes without Global's consent or knowledge. Without even advising Global that it had made those changes to take control, Caldera tried to have Global sign a resolution that would have authorized Caldera's illegal acts. Global refused. In addition, Caldera advised that it would not be performing the mining license requirements and materially breached the agreements in other ways. After a detailed notice sent on September 2, 2010 and attempts to work out a solution failed, Global filed an action in the appropriate Armenian court to rescind the illegal registration on September 22, 2010, and terminated the joint venture with Caldera on October 7, 2010. Global had agreed to keep the termination notice confidential until October 15, 2010, all as previously reported in Global's SEC filings.

Caldera intervened in the case as a third party, and repeatedly delayed adjudication for months, using questionable tactics. After trial, court examination, and a 22 page opinion, the July 29 verdict reinstates Global as the sole shareholder of Marjan Mining Company, effective August 29, 2011. The court specifically identified both Caldera's President Vasilios (Bill) Mavridis and its country representative Azat Vartanian as responsible for Caldera's actions in this case. Global has a security interest freezing the shares of Marjan Mining Company pending the formal turn-over or any appeal.

Independently, there is an arbitration pending in New York where Caldera is seeking confirmation through the American Arbitration Association of the joint venture's existence, and Global is seeking damages for accrued but unpaid amounts while Caldera maintained illegal possession of the Marjan property ($850,000 as of March 31, 2011), interest at the contractual rate of 10% interest, the lost value of the 500,000 shares of stock Caldera failed to deliver in June 2010, and damages for Caldera's other breaches, non-performance, and attacks on Global. Subject to a 30 day extension if it could not raise the funds in capital markets, Caldera agreed to make $300,000 payments to the Company on September 30, 2010 and December 31, 2010; $250,000 payments on March 30, 2011, June 30, 2011, September 30, 2011, December 30, 2011, March 30, 2012, June 30, 2012, and September 30, 2012; and a $500,000 payment on December 31, 2012. Caldera raised sufficient funds, but did not make the payments as due, while ignoring the joint venture terms.

The Marjan mining property is located in Southwestern Armenia, along the Nakichevan border in the Syunik province. Further information is available on the Global Gold Corporation website: www.globalgoldcorp.com.

Forward-looking Statements — To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Global Gold Corporation (www.globalgoldcorp.com) is an international gold mining, development, and exploration company with mining properties in Armenia and Chile. The Company is committed to building shareholder value and maintaining social and environmental responsibilities.

CONTACT: Drury J. Gallagher
Global Gold Corporation
International Corporate Center at Rye
555 Theodore Fremd Avenue, Suite C208
Rye, New York 10580
Tel: [phone]
Fax: [phone]
[e-mail]
www.globalgoldcorp.com

[herplacebytheriver]

Thanks, wellcome as a mod.

It looks to me that this is fake raly,they already started to pull it down,imho.

We will see.

[eom7]

Its here... welcome as MOD. This is a winner sooner or later.