Sunday, February 21, 2016

Global Gold Corp (otcqb:GBGD) Keeps Promoting Its Questionable Gold Properties

Global Gold Corp (otcqb:GBGD) published a Power Point Presentation on its website that was apparently used to promote its questionable gold projects at the Marcus Evans: Global Mining Summit, which took place on the 1st and 2nd of February 2016, at the Red Rock Resort & Spa, Las Vegas, NV. According to event calendar GBGD was being represented by its CFO, Jan Dulman. 

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."

P-P plot shows a great departure from diagonal line as if the distributions are not the same, or as if the drill holes are drilled somewhere except the Tukmnanuk site. This happens when estimation parameters are chosen at random without any knowledge of the subject. Therefore, RESMODEL block models are not usable: -Drill hole values are questionable; etc. 

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


Bill Mavridis
Whistle Blower
Montreal, CANADA

Tuesday, February 9, 2016

Clear and Apparent Fraud at GBGD and Toukhmanuk Gold Mine: Its not as big as BRE-X but its still fraud.

On July 5, 2013, GBGD and Mr. Van Krikorian (President and CEO) signed a deal with Linne Mining to act as the CONTRACT MINER for the development of its Toukhmanuk Gold Mine, in Armenia.

By November 2015, Van Krikorian announced in its SEC quarterly filings (10-Q), that the Toukhmanuk project was delayed because the contract miner "requested" to be relieved of its obligations under the mining contract agreement.

To this date, Van Krikorian has failed to post a copy of Linne Mining's letter or provide any clarification to investors, why Linne Mining requested to be "relieved" of it obligations. 

Three months later, the reason for Linne Mining's actions have started to become crystal clear. Linne has been swindled by Van Krikorian and GBGD. There is no gold worth mining at the Toukhmanuk Gold Mine. Here is the proof.

Two documents, which were prepared for Linne Mining, surfaced on the web last week. These two documents outline that the database provided by GBGD and used to calculate the gold resources and to develop the resources models are "fake". 
GBGD's claim that it has over 2 million oz of gold appears to be overstated by at least 1.9 million ounces.

A third document, which was published today (see below or click), the author published that he reviewed the resource models, used by Behre Dolbear and published in the Independent Technical Report of the Toukhmanuk Mine Project And Getik Prospect, Armenia, In Conformance with NI 43-101 Guideline, on October 17, 2011. The author determined that the data in the models were corrupted in a way that certain gold grades were switched with the silver grades. The net effect is that the gold resources were overvalued, making the resource models worthless.  This is the worst type of fraud in mining, manipulating data to create the appearance of a valuable gold mine. Not as blatant as seeding samples with gold as in BRE-X case in 1997, but up there.

From my experience it is difficult to accept that this is an error. I have discovered that Van Krikorian and GBGD have published suspect data on their other projects and I have been reporting this since 2011.

I hope that the SEC finally shuts GBGD down and deals with this clear and apparent fraud.

(PS Don't forget, Van Krikorian and GBGD scammed their previous JV Partner, CRA. After receiving USD$7 MM investment, Van Krikorian claimed that GBGD was defrauded,  Now GBGD has swindled Linne Mining out of $3.4MM)





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.