CALDERA RESOURCES is bankrupt and has no money to pay. This was a default judgement of sorts, since CALDERA never filed a defence. Caldera has not operated since 21012. So its a hollow victory. GBGD wont see one red scent and they have $12 million in debt and no cash.
So is it good news or just a close of chapter in their business dealings? They are still facing a law suit in the Royal Court of Jersey after they took $7Million dollars from their Joint Venture partner, Consolidated Resources Armenia. The lawsuit in Jersey may force GBGD to liquidate their Toukhmanuk Gold Mine by Court Order.
The Marjan Gold mine is not anywhere near production and has no approved reserves. I feel sorry for any investor who will buy the Marjan project. IMO its just another lawsuit waiting to happen. The Marjan project was issued illegally without reserves and has a mining license, so who ever buys it has to mine it. The license expired July 2014..but they may get another extension.
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