No Reserves at Marjan - Confirmed by Armenian Politician

I discovered documents which were hidden by GBGD and Mr. Van Krikorian. These documents were official letters from the Armenian State Natural Resources Agency ("aka GKZ") addressed to GBGD's subsidiary. From the documents it is clear that in December 2007, GBGD's subsidiary had applied for approval of reserves on the Marjan project with the Armenian GKZ but the application for reserves was terminated by the Armenian GKZ on December 2008 due to incomplete application made by GBGD's subsidiary. This, 8 months after the Mining License HA-L-14/526 was issued on April 22, 2008.  Under the Armenian Mining Code it is illegal to issue a Mining License without approved mineral reserves and a mining license can not be issued without proper documentation in place.  It is evident that the Ministry did not follow its own laws and bureaucrats at the Ministry approved the issuance of mining license and permits illegally, and in complete contravention of the Armenian Mining Code. This a clear indication that the bureaucrats at the ministry were corrupted.

To this date, there are currently no official reserves for Marjan License which implies that the license is illegal and can be terminated by the Armenian state at anytime. This opinion was also made public by the former Minister of the Environment and current Member of Parliament of the National Assembly of the Republic of Armenia, Mr.Vardan Ayvazyan (see Armenian Language YouTube videos below).

http://youtu.be/mfrBrkz18t4

http://youtu.be/h1TGq9iXkMk



Bill Mavridis
Tel: 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.

New Lawsuit Filed Against GBGD and its CEO, Van Krikorian by Investor

You heard it here first..... According to the court roll published by the Royal Court of Jersey on March 28, 2014, Global Gold Corp and its CEO, Chairman, Director and Corporate Counsel, Mr. Van Krikorian,  are being SUED by Consolidated Resources Armenia (CRA).  CRA has invested approximately $7,000,000 in acquiring a 49% interest in GBGD's Armenian assets, namely the Toukhmanuk Gold mine and the Getik copper and gold exploration property. And now CRA is suing GBGD. Why?

I took the liberty to check the SEC filings for GBGD and there is no Form 8-K filed disclosing this lawsuit. By law GBGD must disclose material events, like a lawsuit, in 4 business days from having knowledge. There was no disclosure.

Global Gold did file a Form 8-K on February 3, 2014 stating that they have not closed Binding Heads of Agreement to merge GBGD's Armenia assets with Signature Gold of Australia. (see GBGD 8-K filing of September 5, 2013).

It will be curious to see how GBGD and Van Krikorian, who received $7,000,000 cash from CRA, that they are not able to close a deal since 2011, and in fact this will be second deal they failed to close. And how will GBGD explain to the SEC that it has failed to file material disclosure Form 8-K explaining the lawsuit.

In my previous blog I also provided PROOF that GBGD received a Ministerial Decree from Government of Armenia that its GETIK License was cancelled by the Ministry of Energy and Natural Resources, due to non-performance.

This Ministerial Decree was issued on January 24, 2014  (see blog: GBGD Loses Getik Exploration License).  

Over 2 months have now passed and GBGD has not filed a Form 8-K to disclose this material event either. 

Stay tuned.....As news filters out about this new lawsuit against GBGD and Mr. Van Krikorian I will bring the facts to your attention what GBGD has failed to disclose to investors in my continuing whistle-blowing effort to expose fraud at GBGD.

Posted on www.briefingwire.com: 

http://www.briefingwire.com/pr/global-gold-corp-gbgd-sued-by-investor-in-royal-court-of-jersey

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.