All you need to know is the "Dilbert" Report would never be approved by any investment bank in the world because it has many flaws. The Big one is that it just regurgitates what GBGD told them. They did not do any independent sampling. The other no-no here is that they accepted GKZ issued resources as NI 43-101 qualified resources. YOU CAN'T DO THAT and the author should retract this publication. I heard from a good source, that they took samples of the historic core later, after the report was made, and found NOTHING, ZERO, Gold. Same thing for some drilling, But Global Gold is hiding that information.
PROVE ME WRONG GBGD. Publish your drilling on the Toukhmanuk project in 2011 and the re-assaying of the historic core. ALL OF IT.
I also understand that:
A) None of the work on the property was ever done by independent and qualified geologist (as per CIM) and the results of the labs in Armenia did not match the results from SGS, as per GBGD news release of January 11, 2008. Please take note the following excerpt:
[I]n addition, the Company is pleased to announce that it has received international, ISO, certification for its laboratory at the Toukhmanuk site.
[E]ven with control checks in labs outside Armenia, results were inconsistent, and a re-assaying program was undertaken with the new lab.
B) Former employees have provided me with evidence that the numbers are not real. See my blog: What Are the Real Gold Grades at Toukhmanuk Gold Mine in Armenia.
There is more here not including the fact they cancelled their deal with Consolidated Resources after they screwed them out of a $5+ million investment.
Who would trust these guys ever...They should go back and finish the deal with Consolidate Resources...That's the best thing they can ever do now.
A few days ago Lurer.com published an article, in response to which the "Global Gold Mining" company presented some documents, which we have also published. The speech is about the problem between "GGM" company and Canadian businessman of Greek origin Mr Vasilios (Bill) Mavridis.
On October 19 Mr Vasilios (Bill) Mavridis again contacted Lurer.com and presented his reply to documents presented by "GGM" company. Below is his letter:
"The Arbitrator's ruling has not been confirmed by a US Court and it is not effective. Furthermore, Caldera has filed a motion to overturn the Arbitrator's order on elements that include misconduct, partiality, manifest disregard of the law and exceeding authority by the Arbitrator. (see attachments).
Mr. Van Krikorian, the President of Global Gold and its Legal Counsel, is a lawyer looking for angles to re-interpret agreements and gain advantage rather than do the business we agreed to. Its like the story of a multi-millionaire who marries the most beautiful women in Yerevan, and after 1 year with her and taking her beauty away, he returns her back to her family saying that the contract is not effective because one of the documents was not filed properly.
If you read the Arbitrator's Order it says that the March 27, 2010 agreement never came in to effect and the parties in the Arbitration are brought back to the date before signing the agreement. The original agreement to start the JV was signed on December 19, 2009, this agreement is still effective and it states that the parties will enter into a JV agreement as soon as possible. I will fight for this right. On another note, Mr. Krikorian appears to have corrupted elements of the Ministry of Energy and Natural Resources, namely Mr. Koryoun Akopyan, head of the Concession Department, to get a false termination notice issued on September 28, 2010. Mr. Van Z. Krikorian used this termination notice as the main excuse to cancel the agreement with Caldera on October 7, 2010. This termination notice was later annulled in May 2011 by Ministerial decree, because it was illegally issued.
Mr. Van Z. Krikorian and Mr. Ashot Poghossyan, his General Manager in Armenia, appear to have made false and misleading statements to the US Embassy in Armenia, compelling the US Ambassador, Ms. Marie L. Yovanovitch to visit Prime Minister Tigran Sargsyan to support Global Gold. The US Embassy also sent a letter to PM Tigran Sargsyan on June 14, 2011, requesting help for Global Gold, and on June 16, 2011, Judge Ruzanna Hagobyan of the Administrative Court abruptly terminated the court case and ruled in favor of Global Gold, to terminate the registration of the transfer of the shares to the joint venture. See my facebook page: www.facebook.com/InvestigateGBGDCorruptionInArmenia
Mr. Van Z. Krikorian authorize his legal counsel in Armenia, Mr. Hrayr Gukhassyan to file a criminal complaint in September 2010, and then appeared to corrupt Mr. A. Afandyan, Deputy Prosecutor, to start a criminal investigation. Mr. A. Afandyan is either corrupt or an idiot, for filing this decision to instigate a criminal investigation on November 3, 2010, which had no legal foundation.
Unfortunately this pattern of deceit has been repeated many times by Mr. Van Z. Krikorian in Armenia. He does not pay his employees in Armenia and then when they sue to get their pay Mr. Van Z. Krikorian authorizes his agents in Armenia to counter-sue them, claiming they did not do their job or worse, Mr. Van Z. Krikorian authorizes the filing criminal complaints against his employees.
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