US Judge Blasts Van Krikorian / Global Gold Corp (GBGD) and Overturns his $37MM Default Judgement Against Former Minister of the Republic of Armenia, Mr. Vardan Ayvazyan

I finally received a complete copy of the ruling handed down by Justice Paul Oetken, relating to the overturning of the Vardan Ayvazyan default judgement (click here for a copy of the complete ruling), that awarded Global Gold Corp. (otcmarkets: GBGD) $37MM. The order was overturned on November 21, 2013 by the same Judge who issued it, on the grounds stated below:

Because this Court lacks personal jurisdiction over Ayvazian, the default judgment is void and must be set aside. Equitable factors also support this outcome. Global Gold has had its day in court and has also had its day before the Tribunal that it contracted for, from behind a veil of ignorance, before the dispute arose. Faced with consistent adverse decisions, it now seeks to change the rules of the game. This is the rare case where the interests of finality and the interests of protecting a defaulting defendant are aligned: Global Gold may not circumvent the decision of the ICA Tribunal by returning to this Court, which lacks jurisdiction over Ayvazian. 

For the foregoing reasons, Defendant Ayvazian’s motion to vacate default judgment (Dkt. No. 15) is GRANTED, and the default judgment entered in this case on July 11, 2012 (Dkt. No. 9) is hereby VACATED. 

The complaint is hereby dismissed without prejudice.  

The Clerk of the Court is directed to close this case. 

SO ORDERED 

Dated: New York, New York
November 21, 2013 

J.Paul Oetken 

United States District Judge

Since 2006, GBGD has been attempting to impugn the character of Mr. Vardan Ayvazyan by making outrageous and unsubstantiated declarations of corruption, all in an apparent scheme to gain advantage in negotiations with the representatives of the Government of the Republic of Armenia, so as to secure and maintain his exploration and mining licenses on the Marjan and Hankavan gold deposits.

No less than 3 times have the International Chamber of Commerce Court of Arbitration ("ICA Tribunal") and the United States District Court have ruled that Mr. Krikorian's dispute with SHA, LLC does not involve the former Minister of the Environment, Mr. Vardan Ayvzyan, since he was not party to his dealing with SHA, LLC or mentioned anywhere in his agreements.

Judge Paul Oetken, not only reversed his own decision that issued a default judgement in favour of GBGD, it slammed Van Krikorian and Global Gold, for abusing the legal system by trying to aggressively and repeatedly pursue Mr. Vardan Ayvazyan so as to get the ruling that it wanted. 

Judge Paul Oetken states: "Global Gold has had its day in court and has also had its day before the Tribunal . . . Faced with consistent adverse decisions, it now seeks to change the rules of the game . . . Global Gold may not circumvent the decision of the ICA Tribunal by returning to this Court, which lacks jurisdiction over Ayvazian."

More on The CONSISTENT ADVERSE DECISIONS that GBGD received and tried to circumvent by abusing the ICA Tribunal and the US District Court, in my next blog, Part II.

http://www.briefingwire.com/pr/us-judge-blasts-van-krikorian-global-gold-corp-gbgd-and-overturns-his-37mm-default-judgement


About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

OSCE - Confirms Ministry of Nature Protection Rejects 3rd Tailings Dam Project for Toukhmanuk

The official newsletter of the OSCE office in Yerevan, Armenia, reports that the Ministry of Nature Protection has rejected Mego-Gold's application to build its 3rd tailings dam as part of the expansion of the Toukhmanuk Gold Mine. (Mego-Gold is a subsidiary of Global Gold Corporation otcqb: GBGD).

The Article, under the heading Economic / Environmental Security reads:

The Ministry of Nature Protection rejected the Toukhmanuk tailing project submitted by Mego Gold Company for the construction of a new (3rd) tailing dump near the village of Melik (Aragatsotn province).

The local community had raised concerns over possibilities that pre-existing negative health and environmental impacts, which had begun in 2006 when the company developed the gold mine, would be exacerbated. At the request of the community, the Aparan Aarhus Centre, together with other civil society organizations, organized numerous awareness-raising activities and public discussions, which involved all stakeholders. Articles highlighting environmental concerns and expert analyses were published by the Centre and submitted to the government.

At the public hearings organized by the Ministry of Nature Protection mining's impact on health and the environment, as well as seismic risks, were discussed.
The Environmental Impact Assessment undertaken by the Ministry proved that the request to construct the tailing dump construction should be refused.

The Aparan Aarhus Centre is continuing to contribute to Melik's community security through the provision of expert data and legal assistance in order to further improve the environmental and health security of the local population.

Mr. Van Krikorian, the President, CEO, Director and Corporate Counsel for Global Gold Corporation has failed to disclose this material information in financial reports.  There was no mention of the rejection of the tailings dam even in GBGD's recent 10-Q for the period ending June 30, 2013.

The rejection occurred on April 26, 2013. See my blog of June 13, 2013 http://gbgd-armenia-mining.blogspot.com/2013/06/global-golds-application-for-new.html  

The excerpt is republished below:


About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

Global Gold's Application for A New Tailings Dam REJECTED by Ministry of Nature Protection of the Republic of Armenia

Global Gold Corp. (GBGD) faces additional struggles in Armenia in its ongoing effort to restart its flag ship TOUKHMANUK Gold Mine, operated by its subsidiary, MEGO-GOLD LLC.

Beyond having no money to operate, GBGD has not even secured a permit to build a new tailings dam.

On April 26, 2013. the Ministry of Energy and Nature Protection (MNP) of the Republic of Armenia REJECTED Mego-Gold's application for a tailings dam for the TOUKHMANUK GOLD MINE.

A copy of the original Decision in the Armenian language, signed by the Minister of the MNP, Mr. Aram Harutyunyan, is  posed below:

For your information I have made an unofficial translation of the conclusion of the decision which states:

Basis of the expert conclusion
‐ Missing in the work plan are the community’s decision and approval of the work plan in their region and the community’s decision on allocating the land as per sub-articles E and Z of article 6 as per RA law regarding “the expert analysis on the effect on the environment”.

‐ The Company should have also presented their mining plan as well as the factory’s renovation plan.

‐ Missing is the tailings dam’s security certificate as required by RA law.

‐ Landslide bodies are present in the tailings dam’s location as per the studies conducted by the Japanese company.

‐ Missing in the plan is also the replacement of the clay layer by a polyethylene membrane as required by RA law.

Conclusion:

Taking into account the above-mentioned results, we reject «Mego Gold» LLC’s working plan for the building of a new tailings dam at the Toukhmanuk factory.


Vice-director: H. Grigoryan

Expert: L. Balayan

Signed

stamped

Again, this Decision was issued April 26, 2013 and GBGD has been keeping it a big secret and has not filed any timely disclosure reports on this matter.

Under US Securities and Exchange Commission rules, GBGD must timely disclose all material events under form 8-K. Also all material information must be included in their quarterly financial reports.

"Form 8-K

In addition to filing annual reports on Form 10-K and quarterly reports on Form 10-Q, public companies must report certain material corporate events on a more current basis. Form 8-Kis the “current report” companies must file with the SEC to announce major events that shareholders should know about"....."Companies have four business days to file a Form 8-K"...
http://www.sec.gov/answers/form8k.htm

Global Gold's Application for A New Tailings Dam REJECTED by Ministry of Nature Protection of the Republic of Armenia

Global Gold Corp. (GBGD) faces additional struggles in Armenia in its ongoing effort to restart its flag ship TOUKHMANUK Gold Mine, operated by its subsidiary, MEGO-GOLD LLC.

Beyond having no money to operate, GBGD has not even secured a permit to build a new tailings dam.

On April 26, 2013. the Ministry of Energy and Nature Protection (MNP) of the Republic of Armenia REJECTED Mego-Gold's application for a tailings dam for the TOUKHMANUK GOLD MINE.

A copy of the original Decision in the Armenian language, signed by the Minister of the MNP, Mr. Aram Harutyunyan, is  posed below:

About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

For your information I have made an unofficial translation of the conclusion of the decision which states:

Basis of the expert conclusion
‐ Missing in the work plan are the community’s decision and approval of the work plan in their region and the community’s decision on allocating the land as per sub-articles E and Z of article 6 as per RA law regarding “the expert analysis on the effect on the environment”.

‐ The Company should have also presented their mining plan as well as the factory’s renovation plan.

‐ Missing is the tailings dam’s security certificate as required by RA law.

‐ Landslide bodies are present in the tailings dam’s location as per the studies conducted by the Japanese company.

‐ Missing in the plan is also the replacement of the clay layer by a polyethylene membrane as required by RA law.

Conclusion:

Taking into account the above-mentioned results, we reject «Mego Gold» LLC’s working plan for the building of a new tailings dam at the Toukhmanuk factory.


Vice-director: H. Grigoryan

Expert: L. Balayan

Signed

stamped

Again, this Decision was issued April 26, 2013 and GBGD has been keeping it a big secret and has not filed any timely disclosure reports on this matter.

Under US Securities and Exchange Commission rules, GBGD must timely disclose all material events under form 8-K. Also all material information must be included in their quarterly financial reports.

"Form 8-K

In addition to filing annual reports on Form 10-K and quarterly reports on Form 10-Q, public companies must report certain material corporate events on a more current basis. Form 8-K is the “current report” companies must file with the SEC to announce major events that shareholders should know about"....."Companies have four business days to file a Form 8-K"...
http://www.sec.gov/answers/form8k.htm

The rules require that public companies issue material disclosure reports within 4 business days of such events.  GBGD should have filed an 8-K report no later than Friday May 3, 2013. Mr. Van Z. Krikorian has breached these regulation. You would think investors should know that the tailings dam application was rejected, and rejected for some very serious reasons too.

To make maters worse for GBGD, they had a chance to disclose this matter in their 10-Q filing for the period ending March 31, 2013, which was filed on May 20, 2013.

All that GBGD reported in their 10-Q, filed on May 20, 2013 was:

The Company's expected plan of operation for the calendar year 2013 is:

(a) To implement the joint venture agreement with Consolidated Resources USA, LLC, and build a new tailings dam necessary to recommence operating expanded mining operations at Toukhmanuk, to generate income from offering services from the ISO certified lab operating at Toukhmanuk, and to continue to explore this property to confirm and develop historical reserve reports, to explore and develop the Getik property in Armenia;
http://www.sec.gov/Archives/edgar/data/319671/000143774913006451/ggc_10q-033113.htm

Clearly Global Gold has failed to timely file an 8-K on material event. The inability of GBGD to secure a permit for a tailings dam is a material event that further delays the financing and commencement of mining of the Toukhmanuk Gold Mine and ultimately affects the valuation of the Company.

GBGD has been misleading investors on issues related to the tailings dam at the TOUKHMANUK GOLD MINE for some time now. GBGD claims in its 10-K for the period ending December 31, 2012, filed on April 16, 2013, that:

As of December 31, 2012, the Company has spent approximately $11,130,000 on mining and exploration activities at this property, excluding acquisition and capital costs. In 2012, the Company installed two new mills at the plant to increase capacity and efficiency, but did not process any ore pending approval and construction of a new tailings dam and resolution of joint venture issues.  http://www.sec.gov/Archives/edgar/data/319671/000143774913004481/gbgd_10k-123112.htm

Furthermore, Global Gold has been talking about building a new tailings dam at the TOUKHMAUK GOLD MINE since 2008. In its 10-K/A report for the period ending December 31, 2008, GBGD states:

The Company has maintained the plant’s crushers, mills, and gravitation circuits are in good condition while also adding a hydro cyclone, flotation cells, and building a new tailings dam.  http://www.sec.gov/Archives/edgar/data/319671/000143774910000448/globalgold_10ka-123108.htm

GBGD needed to build this new tailings dam since 2008. Due to apparent mismanagement at the company, it still has not been done.   

Clearly the lack of disclosure is designed to mislead investors that there is no issue with the tailings dam, considering the Management is aware there are serious issues in securing the tailings dam permit, including its inability since 2008 to secure a proper "Land Use Agreement" and get local community support for the new tailings dam.

This is just a continuation of a pattern of misleading and false statements that Global Gold management, orchestrated by Mr. Van Krikorian, Mr. Ashot Poghossyan and Mr. Jan Dulman to hide what really is going on in Armenia, in apparent effort to attempt to conceal the value, or lack thereof,  of the TOUKHMANUK gold mine and ultimately the share price of GBGD. Hiding this information was useful to swindle CRA into investing $5MM in Mego-Gold. Money advanced by CRA included $260,000 in tailings dam design and construction, as outlined in the budge below. That money was advanced by CRA in 2011 to Global Gold but this money was misappropriated  because as  of today,that tailings dam has not been built.

Also the GBGD has failed to fully disclose that it has lost its exploration license to the Toukmanuk area. See my blog: http://gbgd-armenia-mining.blogspot.ca/2013/05/to-gbgd-liar-liar-pants-on-fire.html

The pattern of deceit actually starts in 2008 when GBGD falsely stated that the Company is required to mine 80,000 tones per year of ore to keep the Toukhmanuk license in good standing. The truth finally was disclosed by GBGD in its 10-K for the period ending December 31, 2012 as filed on April 16, 2013.

The 10-K now states

"The Company is required to pay annual governmental fees of approximately $32,000. The Company is also required to spend annually approximately $1,200,000 on exploration work and mining annually 168,500 tonnes of mineralized rock at the property as submitted and approved in its mining plan in order to maintain the licenses in good standing"

This is a big jump from 80,000 tpy to 168,500 tpy and a big mistatement.

There are other examples of this in GBGD's SEC statements, including the recent discovery that GBGD has been keeping two separate books of mining at Toukhmanuk, over reporting production by 104% since 2006. See my blog: http://gbgd-armenia-mining.blogspot.ca/2013/05/global-gold-corp-gbgd-overstates-mining.html

The actions of Mr. Van Krikorian and GBGD or lack thereof should be investigated by SEC Enforcement and the Public Company Accounting Oversight Board (PCAOB).

"Oh What a Tangled Web We Weave When First We Practice to Deceive" in Armenia

"Oh What a tangled web We weave,
When First We Practice to deceive! "
Sir Walter Scott: Marmion: A Tale of Flodden Field

(ARMENIAN VERSION BELOW)

May 31, 2013


Dear Readers,

I prepared this chart in an attempt to bring to light the web of connections used by Global Gold Corp., GGM, Mego-Gold, Mr. Van Krikorian and Mr. Ashot Poghossyan. While I do not believe this chart is exhaustive, it does represent what I believe to be the web of influence and money used by Mr. Van Krikorian and Mr. Ashot Poghossyan in Armenia. There is significant Political Influence That Mr. Krikorian has access to his 30 DUE Armenian Assembly of America the Year with Association (AAA).
The AAA has lobbied the US Congress over the Last 20 years, and the Republic of Armenia has received Hundreds of millions of dollars of military and Foreign Aid Aid . One Deputy Minister once told me That "We" looked upon Mr. Krikorian as a "Savior to Armenia" back in the early days of the new Armenian Republic.

Because of Mr. Van Krikorian's association with the AAA, he has access to the Office of the President and the Office of the Prime-Minister of Armenia, something that mining companies normally do not have access to. Over the last few months Mr. Even Krikorian has attempted to use his Influence and visited the Office of the State Minister of Revenue, in an Attempt to Stop a criminal Investigation against his Company. Over the years, Mr. Krikorian has developed this "web" with the help of his main partner, Mr. Ashot Poghossyan and their lawyer Hrayr Gukhassyan, by employing children and family members of key government officials. Return GGM appears to have received in Support Projects in securing mining and Licenses, under questionable Circumstances. In my opinion money has flowed Through Global Gold Corp., to GGM, Mr. Ashot Poghossyan, and his private consulting company, Arax Consulting and RAKE LLC. Considering Global Gold has spent $ 11 Million dollars at the Toukhmanuk Gold Mine plus $ 7 million received from CRA in 2011, their new joint venture partner, but GGM has little to show for it and now it is shut down because of bad planning (more on CRA below). The main Agent in the MIDDLE of GGM's Successful attempts to circumvent mining regulations and Code of Armenia is Mr. Koryoun Agopyan, the Head of the Concessions Department at the Ministry of Energy and Natural Resources (MENR). Since 2006, Mr. Koryoun Agopyan has supported Global Gold subsidiaries GGM, Mego-Gold, Hankavan and Getik operations by not enforcing Armenian laws. In return Mr. Koryoun Agopyan benefited from millions of dollars of geological exclusive Contracts for Services issued by GGM to "his" Company, rake, LLC. While it is hard to confirm ownership between RAKE and Mr. Koryoun Agopyan, this type of corruption prone undisclosed Ownership is Common Practice in Armenia. I came to this conclusion about Mr. Koryoun Agopyan from conversations I had with other mining professionals in Armenia and by the fact that Mr. Koryoun Agopyan organized a bogus / fake termination notice on the Marjan Mining License on September 28, 2010, issued by the MENR. This termination notice was used by Mr. VAN Krikorian to justify his termination of our Joint Venture Project and to swindle this Caldera Away from Sharp by Using the Practice of the Law. I do not Believe Mr. Krikorian had any intention to complete the transaction with me on the Marjan Project, his intent was to get as much cash from me as possible and sooner or later terminate the agreement, just like he continues to do.










Mr. Krikorian also used the services of GGM's lawyer, Mr. Hrayr Gukhassyan, a FALSE criminal complaint against me to File Label me to a "criminal" and use this accusation to gain Advantage in Using the local Armenian Media, t he Administrative Courts, the US State Department, the US Embassy in Armenian and the US Arbitration case. Mr. Hrayr's Gukhassyan has many connections in Armenia legal society along with his father Mr. Hovaness Gukhassyan, Justice of the Cassation Court of Armenia, Criminal Division, including the help of his wife and siblings, in corruption plagued Armenian Judicial system. This is common practice of Mr. Krikorian and GGM to File FALSE criminal complaints in an Attempt to shut down his detractors. Mr. Hrayr Gukhassyan should be disbarred for knowingly Filing criminal complaints on behalf of FALSE against me GGM GGM employees and contractors and Other.

My opinion is based on my Personal Experiences in DEALING with Mr. Van Krikorian and his gang in Armenia. There are too many coincidences and circumstantial evidence that fall in the favour of Mr. Krikorian for me to believe otherwise. Mr. Krikorian and Global Gold Corp. have benefited from the Political Influence gained Through his connection to the AAA, and Possible "baksheesh" circulated Through Ashot Poghossyan, Arax Consulting and rake. Recently I also discovered That Mr. Krikorian and GGM held two books for accounting of their mining activities in Armenia. They kept one set of books for Armenia authorities and an other set of books to show to US investors. I discovered recently that GGM has been under-reporting their mining activities in Armenia by 50% and possibly the gold concentrate produced at Toukhmanuk may have been diverted from their production records. Please Visit my Blog for more information on this matter At: http://gbgd-armenia-mining.blogspot.com/2013/05/global-gold-corp-gbgd-overstates-mining.html It is also appears I am not the only victim of Global Gold activities in Armenia, he is doing the same thing to another foreign investment company, Consolidated Resources Armenia (CRA). CRA made ​​approximately a $ 7 million dollar investment in Mego-Gold which Mr. Ashot Poghossyan apparently misappropriated some funds which were destined to pay employees and consultants of GGM. It is no wonder Mr. Poghossyan lives in a MILLION dollar estate while GGM and Mego-Gold employees and contractors are waiting almost 2 years to get paid their meager salaries and benefits. I predict again that GGM will terminate his joint venture agreement with CRA claiming breach of contract. I believe this is a pattern that GGM and Mr. Krikorian to use their Advantage.  This is stealing, but instead of a gun and Force, they use legal Tactics Sharp, the courts and corruption. So this makes it legal? The State Revenue Agency of the Republic of Armenia, the General Prosecutor's Office of Armenia, Anti-Corruption Agencies in Armenia and all, should investigate Global Gold Mining, Mego-Gold, Arax Consulting, rake, Mr. Van Z. Krikorian, Mr. Ashot Poghossyan, Mr. Hrayr Gukhassyan and

Mr. Koryoun Agopyan an end to this and PUT. 

Sincerely, 
Vasilios (Bill) Mavridis Montreal, Quebec, CANADA 
514-813-9200



About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

 -----------------------------

31 May, 2013

Dear Readers,

I present you with Global Gold, Gold tnkerutyan Megk Van Krikorian and the network created by Ashot Poghosyan. Although I do not think that this list is exhaustive, it does not represent all of their communications - including ousted from   Mr Van Grigoryan and Ashot Poghosyan money by using   the information.

They have a huge political impact, Mr. Grigoryan has a 30-year-old contacted Armenian Assembly of America (AAA) with AAA influential in the US Congress, which for the past 20 years, Armenia has allocated hundreds of millions of dollars in foreign aid and military assistance.

One minister once told me that "we" are looking at, as Mr. Grigoryan of Armenia "Saviour" still in the early days of the Republic of Armenia.

Habdisanalov VAT-President, Mr. Van Krikorian has access to the Prime Minister, the President of the Republic gchasenyakner. Recently, the State Revenue Committee to use its status to settle the issue of the suspension of the case against Global Gold. 

Van Krikorian, together with their lawyer Ashot Khoghosyani Ghukasyni of Justice has set up a network to recruit the people and their officials to work from their family members. Instead obtained mineral licenses issued under suspicious circumstances.

I just now got underway in the financial flows to the GLI, the money goes to Mr. Ashot Boghossian ARAX CONSULTING consulting firm for private and RAKE spin. GGMe showed that Tukhmanuk mine has invested $ 11 million, 7 million plus to this is the GLI received in 2011. Korporeyt Resource Company, the joint venture in exchange for promises / this issue avelintesek industry /.

Global Gold illegal litsenghianeri main author Koryun Hakobyan, who held the post of Minister of Energy and Mineral Department of Natural Resources. It was in front of millions of dollars to get its actual RAKE Ltd. for geological services / it will be difficult to establish the link between documentary /.

Koryun Hakobyan was prepared by the same decision, according to which our company's mining license is revoked on September 28, 2010, based on which Van Krikorian led us out of the Marjan hakavayrits.

Convinced that V. Krikorian Marjan mine does not function as intended. His only goal was to get big money from me as possible. This same policy he carried out his other partners stands.

V. Krikorian makes use of the services of a lawyer Hrayr Ghukasyan, against koghts charges for the use of the media in shaping public opinion in the network. They also have extensive contacts with the Administrative Court of the United States deapanatane, the US State Department, the US Court of Arbitration.

Hrayr Ghukasyan has many connections in the legal environment, his father, John, Mr. President, Member of the Court of Cassation, the law enforcement, his wife, brothers and sisters, who are drawn to positions in law enforcement, including criminal division. V.Krikoryani and GGM_i for the common practice is to sue their employees and contractors talking. These fake documents prepared by Hrayr Ghukasyan, for which he should zrel right to a lawyer.

V. Krikorian said karoghem gone out of my personal experience, it is widely used by the CAA's political influence and the spread of private consultancy firm and Ashot Poghosyan ARAX CONSULTING RAKE SPneri on.

My study shows that V.Krikoryane and A. Poghosyan has two accounts. He showed different numbers of Armenia and MMN_um including mining. For more information, please visit: http://gbgd-armenia-mining.blogspot.com/2013/05/global-gold-corp-gbgd-overstates-mining.html

Recently I found out that Van Krikorian and Ashot Boghossian to do the same in a different Consolidated Resources Armenia (CRA) company to pick up their $ 7 million in unpaid salaries and taxes to pay for 2 years, and I V.Krikoryane. Poghosyan ohtagortsel the money ews their hayatsoghutyan not npatakayni, as it was stated in the contract. I apshats as Ashot Poghosyan can enjoy his millions unetsvatse knowing that his salary is not paid for years because of working people. I am convinced that the blame lies with a GGM_e Consolidated Resources Armenia (CRA) obligations default, the court will win and assimilate the money; This is their usual ashkhatanbkayin prakeika.

The State Revenue Committee of Armenia's Prosecutor General's Office, Armenian and other anti-corruption agencies should investigate Global Gold Mining, mego-Gold, Aras consultancy, RAKE CD, Mr. Van Krikorian, Mr. Ashot Poghosyan and Hrayr Ghukasyan and Koryun Hakobyan The activities shall put an end to this.

Hanganknerov,

Vasilios (Bill) Mavridis

Montreal, Quebec, Canada

514-813-9200

bill@mavridis.ca

Global Gold Corp (otcqb: GBGD) Makes False Statements About its Mining Production at its TOUKHMANUK GOLD MINE in Armenia

Through a Joint Venture registered in the Isle of Jersey, Global Gold Corp. ("GBGD") is the operator and owner of 51% interest in the Toukhmanuk Gold Mine located in northern Armenia. The balance of the ownership in the project, 49%, was purchased by JV partner Consolidated Resources of Armenia (CRA) in 2011 for $ 5 million equity and $ 1.6 Million in loans. Due to the failure of the JV, CRA is now seeking a court ordered liquidation of the JV assets as well as recovery of $ 1.6 million in defaulted notes, plus interest and damages. 

In 2013 I received copies of official correspondences issued by the Ministry of Energy and Natural Resources of the Republic of Armenia which included official mining volume records reported by GBDG subsidiary Mego-Gold.

While GBGD has claimed since its January11, 2008 Press release (click here to Read it) That its mine was commissioned as of December 20, 2007 with a Capacity of 100,000 Tones per Year Processing of ore 2 - 3 Grams Gold per tone. 

GBGD has never mined 100,000 tones of ore per year from its re-commissioned mine and plant and its grades have fallen over time to about 1g / t.

This announcement appear to be just hype and Other Production since Never was achieved. In 2008  its SEC filings GBGD Reported in 82,000 Tones of ore mined That it Grading 1.85 g / t Gold but in Official Government in the Republic of Armenia Made filings, GBGD Subsidiary , Mego-Gold Reported That it only mined ore Grading 3.34 g of 45.660 Tones / t Gold.  (See TABLE below). 

On June 24, 2009 issued a new GBGD Press release (click here to Read it)  Which States:

" Following the [Annual Shareholders'] Meeting, there was a review of Global Gold's Current Operations. In Armenia, Production At Toukhmanuk mining Property in June reached an output rate of about 300 ounces of Gold per month. Global Gold anticipates this monthly Production rate to be sustained until the plant production is expanded to 15,000 ounces per year in the first quarter of 2010 and then to an industrial production level of over 100,000 ounces per year. "   

Somehow the "300 ounces of gold production per month" never materialized along with the "sustained" production expansion to "15,000 ounces per year". In the official filings made with the Government of Armenia's Ministry of Energy and Natural Resources (MENR), GBGD stated it did not mine in 2009 and had absolutely no GOLD production (see table below). 

In 2010  the Toukhmanuk Mine Production recommenced in its SEC filings and GBGD Reported That mined ore with a grade of 21,000 Tones of 2.08 g / t Gold Reported These volumes are significantly higher That the Government of Armenia Official filings also GBGD Subsidiary Made by Mego-Gold , 16,800 tonnes of ore mined That it Grading 1:17 g / t Gold.  (See TABLE below). 

In 2011  in its Annual report Made Additional FALSE statements with the SEC claiming it Tones of ore mined 21,400 Grading 0.92 g / t Actually When in fact it Tones of ore mined 11.860 Grading 1.54 g / t of Gold.  (See TABLE below). 

There has been no production at the Toukhmanuk Gold Mine since 2012 due to problems in securing a permit for a new tailings dam. Local environmental NGO's and local villagers have opposed the building of a new tailings dam.

In 2014 Global Gold Corp was sued by its Joint Venture partner, Consolidated Resources Armenia (CRA), for defaulting on $ 1.6 Million in loans. CRA is also suing GBGD in the Royal Court of Jersey claiming the failure of the JV and requesting a court ordered liquidation of the JV and the Toukhmanuk Gold Mine.

THERE HAS BEEN NO PRODUCTION AT THE 

TOUKHMANUK GOLD MINE SINCE 2012.

About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

Global Gold Corp. (GBGD) Overstates Mining Volumes At Its Toukhmanuk Gold Mine by 104%

ARMENIAN BELOW

I recently received copies of a letter including a summary of production reports filed by MEGO-GOLD LLC, a Global Gold subsidiary for production at the TOUKHMANUK GOLD MINE in Armenia.

The letter was issued by the Chief of Staff of the Minister of Energy and Natural Resources, Mr. Karen Kagramanyan, (MENR) following an access to information request by Mr. Arthur Grigoryan, the President of "ECOLOGICAL RIGHT", an Armenian Environmental NGO.

I have compiled the data and have compared it with the mining volumes published by GBGD in its December 31, 2012 annual 10-K report. The report is signed by Mr. Van Z. Krikorian as CEO and the rest of the Board of Directors and audited by RBSM LLP of New York.

Since 2006, GLOBAL GOLD CORP (otcqb: GBGD) has overstated its mining volume by 104% from its Toukhmanuk Gold Mine located in Armenia.

In the 10-K report, as filed with the United States Securities and Exchange Commission (SEC), for the year ending December 31, 2012, Mr. Krikorian and his board certified the following statement:

The Company has mined mineralized rock of approximately 52,000 tonnes in 2006 with content of approximately 1.27 g / t gold and 6.37 g / t silver, no mining in 2007, approximately 82,000 tonnes in 2008 with content of approximately 1.85 g / t gold and 5.21 g / t silver, no mining in 2009, approximately 21,000 tonnes in 2010 with content of approximately 2.08 g / t gold and 5.68 g / t silver, approximately 21,400 tonnes in 2011 with content of approximately 0.92 g / t gold and 3.32 g / t silver , and no mining in 2012. 

The production records filed by Global Gold in Armenia paint a different story. Below is the translation of the table received from the MENR. This table is drawn from the official reports of production at the TOUKHMANUK GOLD MINE filed by MEGO-GOLD, since 2006.

Converting the GBGD data to conform to the Table provided by the MENR we see a different picture emerging.

Converting the Armenian data to conform to the GBGD data published in its 10-K we get the following table:

In 2006, GBGD claimed it mined 52,000 tones of ore when it actually mined 12,100 tones of ore. In 2008, GBGD claimed it mined 82,000 tones of ore when it actually mined 45,660 tones of ore. Meanwhile the GOLD content remains the same, at approximately 66 kg, even-though the volumes differ dramatically. This implies the grade of the ore for 2006, as filed with the MENR, graded for Gold was approximately 5.45 g / t but the grade for Gold reported by GBGD in its SEC filings was 1.27 g / t. The ore for 2008, as filed with the MENR, graded approximately 3.34 g / t, but GBGD reported in its SEC filings that it was 1.85 g / t.

In 2010, 21,000 Tones of ore mined GBGD claimed it with a grade of 2.08 g Gold / t, equivalent to 43.68 kg of Gold content. The Official Armenian records show 16,800 Tones of ore mined That GBGD with Gold content of 18:31 kg of Gold content, equivalent to 1:17 g / t. Global Gold Gold mined in 2010 overstated by 24.1 kg in its SEC filings.

In 2011, GBGD claimed it mined 21,400 Tones of ore with a grade of 0.92 g Gold / t , equivalent to 19.69kg of Gold content. The Official A rmenian records show That GBGD mined 11.860 Gold Tones of ore with content of 18:31 kg of Gold content, equivalent to 1.54 g / t. Global Gold Gold mined overstated in its SEC filings in 2011 by 1.38 kg.

No investor can now TRUST what the real grade of the TOUKHMANUK Gold Mine is. Global Gold reports one grade with the MENR and a different grade in their audited financial statements filed with the SEC. This is a problem for Huge Global Investors Gold since rely on to evaluate the value of Published Grades Gold Assets. Have Investor's been misled in Global Gold?

Is Global Gold Corp. (GBGD), Mr. Van Z. Krikorian and Mr. Ashot Poghossyan willfully and knowingly conspired to File and misleading statements in their FALSE Audited Financial Statements or 10-K Filed FALSE Actually they have with the Ministry of Energy and Natural Reports Resources of the Republic of Armenia (MENR)? 

There clearly has to be an investigation by the SEC, PCAOB and the MENR to find out what the real truth is. 

About this Blog:  Between 2009 and 2012 I was an active investor in the mineral exploration sector in the Republic of Armenia.  Our main project in Armenia was the MARJAN polymetallic gold and silver project located in near Sissian.  My JV partner, Mr. Van Z. Krikorian, President of Global Gold Corp (otcqb: GBGD) and Trustee of the Armenian Assembly of America, used corrupt means including using his influence with the US EMBASSY in YEREVAN to secure an indictment against me for theft of the JV and to corrupt the Armenia judicial system to give him a favourable ruling.

Mr. Van Z. Krikorian is the President, CEO and Legal Counsel of Global Gold Corp. (otcqb:GBGD), a penny stock listed on the OTC  markets. His public filings with the US Securities and Exchange Commission  fail to fully disclose the reality on the ground in Armenia in the promotion and development of GBGD's gold project, the TOUKHMANUK GOLD MINE.

This blog is an effort to bring transparency of the activities of Global God Corp. (otcqb: GBGD) and Mr. Van Z. Krikorian in Armenia.

ARMENIAN TRANSLATION

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Global Gold will vorporatsian (GBGD) its s gold mine increased ing the mining capacity of 104 percent.

V. yerjers I got the Enerdetikayi and Natural Resources նախարարության նամակ _պատասխանի պատճեններ ը, ներառյալ Հայաստանի Թուխմանուկ ոսկու հանքավայրի արտադրական հաշվետվությունների ամփոփագի ը ՝ լրացրած Գլոբալ Գոլդ կազմակերպության դուստր ձեռնարկության ՄԵԳՈ ԳՈԼԴ ՍՊԸ - ի կողմից :

Նամակը հրապարակված է ր ՀՀ էներգետիկայի և բնական պաշարների ( ՀՀ ԷԲՊ ) նախարարության  աշխատակազմի ղեկավար պրն . Կարեն Ղաղրամանյանի կողմից , որպես տեղեկատվության մատչելիության պատասխան նամակ Հայաստանյան “ Էկոիրավունք ”   ՀԿ նախագահ պրն . Արթուր Grigoryan hartsmone. 

  2012 annual 10- K report ). Van Z. Krikorian said the report was signed by the CEO and   board of directors, which the audit was conducted in New YOUR updated in RBSM LLP- by:

2006 թ _ց . իվեր Գլոբալ Գոլդ կ որպորացիան ( այժմ` GBGD) ոսկու արդյունաբերության Թուխմանուկ մասնաճյուղում ուռճացրել է հանքարդյունաբերության ծավալը 104 տոկոսով :

10 - Կ հաշվետվությունում ինչպես , որ Միացյալ Նահանգների արժեթղթերի և բորսաների հանձնաժողովում պաշտոնապես լրացված է  2012 թ վերջին ( Դեկտեմբեր 31) պ րն Կրկորյանը և իր խորհուրդը ներկայացրել են հետևյալ պաշտոնական հաղորդագրությունը՝

 Ընկերությունն 2006 թ հանքայնացրել է  մոտավորապես 52,000 տ . հանքաքար  մոտավորապես 1.27 գ / տ ոսկի և 6.37 գ / տ արծաթ բաղադրությամբ ,

In 2007 , the mining industry has not been implemented . 

2008 թ մոտավորապես 82,000 տոննա հանքաքար, մոտավորապես 1.85 գ / տ ոսկի և 5.21 գ / տ արծաթ գո յ ացող բաղադրությամբ , 

2009 mining has been carried out ;

2010 was approximately 21,000 tonnes of ore, approximately . 2.08 g / t gold and 5.68 g / t silver Guo Yu being formulated ,  

2011 year . Approximately 21; 400 տոննա հանքաքար, մոտավորապես 0.92 գ / տ ոսկի և 3.32 գ / տ արծաթ գոհացող բաղադրությամբ ,

In 2012 , the mining industry has not implemented

Արտադրական ծավալների այլ կերպ են արձանագած Գլոբալ Գոլդ Հայաստան մասնաճյուղում : Ստորև աղյուսակում ներկայացվում է ՀՀ ԷԲՊ - ի կողմից ստացված տեղեկատվությունը : Այս աղյուսակը արտացոլում է 2006 ից իվեր Թուխմանուկ հանքավայրի արդյունահանման զեկույցն , լրացված Մեգո Գոլդի կողմից :

Table 1

Ստորև աղյուսակում համեմատելով GBGD տվյալները ՀՀ ԷԲՊ - ի կողմից տրամադրված տվյալների հետ, տեսնում ենք այլ պատկեր :

Table 2

Ստորև աղյուսակում  10- Կ զեկույցում GBGD- ի կողմից հրապարակված տվյալներն հաստատելու համար տվյալները համեմատում ենք հայաստանյան տվյալների հետ :

Table 3



2006 թ . GBGD ներկայացրել է 52,000 տ . հանքաքարի արդյունահանում երբ դա փաստացի եղել է 12,100 տ հանքաքար.

 2008 year. GBGD of 82,000 tons. ore when it is actually used to be 45.660 tons. Ore.  

Meanwhile, gold  The volume has been variable . It is to be mentioned in the EBP documents that  in 2006, the ore content index is estimated to be approximately 5.45 g / t, but GBGD - in the Secretariat's report as 1.27 g / t.

Ore 2008 's for , as referred to in the document HHEBP , estimated to be approximately 3.34 g / t , but GBGD - it has its secretariat report as 1.85 g / t specified.

2010 GBGD 21,000 tonnes of ore at 2.08 g / t gold content index, proportionate to  43.68 kg of gold reserves. The official data GBGD - was produced over 16,800 tons. ore 18:31 kg of gold worth, commensurate with 1.17 g / t. Gold production in 2010 in the records of the Secretariat of the Global Gold exaggerate to 24.1 kilograms.

2011 year. GBGD of 21,400 tonnes of ore mined from 0. 92 g / t commensurate with 19.69 kg of gold reserves. The official data GBGD - was produced 11.860 tons. ore 18:31 kg of gold worth, commensurate with 1.54 g / t .: Gold production 201 1 - The Secretariat of the Global Gold records   to exaggerate 1 38 kg.

No investor can not be sure that the actual gold content as the Tughmanuki. The Global Gold for its reporting on the EBP and other content from other content on its financial audit documents submitted to the secretariat. This is a big problem as long as the Global Gold for gold investors in evaluating the assets are based on published data. Global Gold investors were misled by

Արդյոք Գլոբալ Գոլդ կորպորացիացիյում (GBGD), պրն   Վան Զ . Կրկորյանը և պրն Աշոտ Պողոսյանը ամբողջովին և գիտակցաբար դավադրել են 10- Կ աուդիտի ֆինանսական փաստաթղթի կողծ և սուտ գրառումներ թէ իրականում նրանք ՀՀ էներգետիկայի և բնական պաշարների նախարարություն ներկայացրել են սխալ հաշվետվություններ ?  

Simple to , the SEC, PCAOB և ՀՀ ԷԲՊ - ի  կողմից անհրաժեշտ է քննություն իրականացնել իսկության բացահայտման համար :

The translations of words and explanation of the mind  based on the English model.