Yes read the report and you will be confused like any professional in the mining industry will be.
1. Can you really transfer GKZ style reserves to resources? (NOT REALLY, it still needs Confirmation!) 2. Can you use the data compiled by Global Gold after 2001, since none of the work was supervised by a Qualified Person as defined by CIM and the NI 43-101
Much of this data must be reviewed by a Qualified Person, (local Armenian Geologists are not Qualified under CIM) before it can be accepted as a qualified NI 43-101 report.
Also , the author of this report does state that Global is required to mine 80,000 tonnes a year and invest approximately $1,200,000 a year in exploration. Global Gold has not done this and appears to be in default.
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