The Presentation, or rather "MISREPresentation", published by GBGD, contains mythological stories about proven reserves at Tukhmanuk and Marjan projects.
Linne mining already discovered that the Toukhmanuk resource data is fake. See my blog "Clear and Apparent Fraud at GBGD and Toukhmanuk Gold Mine: Its not as big as BRE-X but its still fraud."
THERE IS NO PATH TO PRODUCTION IN ARMENIA, only a PATH to perpetuate the lie that GBGD's Toukhmanuk and Marjan Projects have a valid gold resources.
Over the last 4 years I have presented evidence in my blogs that GBGD has filed falsified gold resource data to secure Mining License for the Tukhmanuk and Marjan projects, and perpetuated these false claims in their SEC filings.
The "MSREPresentation" promotes the Tukhmanuk Mine which has a 43-101 Report that was never reviewed by any regulator. GBGD is US based company with no listing in CANADA. The 43-101 Report on Toukhmanuk uses data that was provided by GBGD and never verified by the author. If it was verified , they would have discovered that the GBGD data can not be reproduced, i.e. it is falsified. The GBGD resource data that purports to confirm a 2 million plus oz gold deposit is garbage. The only way the data can turn out to be garbage is because it was falsified. The GBGD resource data was falsified at Global Gold's own "ISO" certified Lab, located at the Toukhmanuk site. Were they seeding the samples? NO. They were playing with the published data. Every time a professional outfit analyzed the Toukhmanuk data they found no gold where GBGD claimed they had gold. The resources is probably overstated by about 90%.
But this is not an isolated incident either. GBGD had the same problem with their Marjan project data. Caldera reviewed the Marjan core and resource calculation in 2010 and discovered the data provided by GBGD could not be duplicated either by independent analytical firm lab, Activation Labs.
|Analysis of core samples provided by GBGD showed poor correlation to duplicate analysis|
Caldera was force to drill new holes and rely on the Soviet-era data. There is no gold resource established at Marjan. Marjan is an exploration play.
To make matters worse, Caldera also discovered that the mining license held by GBGD on Marjan was issued illegally and through corrupt means. The license was issued without an approved resource summary confirmed by the State Committee of Mineral Resources. How? Only answer can be is through Corruption. The State Committee for Reserves rejected GBGD's application for resource approval. See my earlier blogs.
If any one is interested in contacting me directly to learn more about the lies of Van Krikorian and GBGD you can contact me by email at email@example.com.