Wednesday, January 1, 2014

Ashot Poghossyan's New Year's Message to the People of Melikgyugh Village in Armenia: "Let Them Eat Coreg"

Upon being alerted that the people of Melik Village were suffering due to widespread bread shortages, Mr. Ashot Poghossyan, Global Gold Corp's  country manager in Armenia is said to have replied, "Let them eat coreg."

Like the disconnected rulers of old France, King Louis XVI and his Queen, Marie-Antoinette, lived in lavish homes and their subjects lived in abject poverty, and declared that if the poor have no bread they should eat brioche;

Global Gold Corp's. (otcqb: GBGD) country Manager and Operator of the TOUKHMANUK GOLD MINE, Mr. Ashot Poghosyan, too lives in a large and beautiful Villa in Gosh, but fails to pay his employees who have no money to afford to buy coreg.

Mr. Ashot Poghosyan, General Manager of GBGD, in Armenia and the Manager of the Toukhmanuk Gold Mine adjacent to Meilk Village

Ashot Poghosyan's Million Dollar Villa in Gosh, Armenia, Complete with Walled Compound and Private Pool

The local Villagers of Melik who worked at the Toukhmanuk Gold Mine, went without their pay, some since 2008,  and now try to live on the broken promises from Global Gold on their farms and try to raise cattle amongst their environmentally polluted fields and pastures of Melik village.

Melik Village Home

Melik Village Home
Melik Village Road

Meliq Village

In 2008 GBGD received advances of $3,500,000 from its "independent" director, Mr. Ian Hague, GBGD's largest shareholder and investor. The money was supposedly used for its operations in 2008 but the local labourers from the Village of Melik and regional contractors were left with unpaid salaries and fees for the worked they performed. 

The Melik labourers earned between $250-$500 a month and the back pay of $286,000 was converted to sham employee loans in 2010. This was announced in the GBGD filings that "As of December 31, 2010, the Company had loans due to employees in Armenia of approximately $286,000. The loans accrue interest at an annual rate of 14%." Now 3 years and almost 5 years waiting to get paid, these loans (back pay) remain unpaid by GBGD, Ashot Poghosyan and GBGD's President, Mr. Van Z. Krikorian.

Also in GBGD's 2010 year end report it announced that "The Company has been brought to court by several disgruntled former employees and contractors for unpaid salaries and invoices, respectively, as well as some penalties for non payment which totals approximately $350,000."  So total unpaid salaries and bills to local labourers and contractors was $636,000.

Meanwhile miraculously Mr. Ashot Poghosyan, GBGD's Country Manager, and Operator of the Toukhmanuk Gold Mine, was able to start building his Million Dollar Villa in GOSH. He managed this on a a $75,000 salary and apparently from money he apparently scammed over the years from his employer and investors of GBGD, through his private consulting firm, ARAX CONSULTING and related family controlled companies. 

I leave you below, with a video filmed at the Melikgyugh Village (Melik), where the local villagers complain about Global Gold Corp. (otcqb: GBGD) and the broken promises made by GBGD's Country Manager and Operator of the Toukhmanuk Gold Mine. 

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.

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