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Global Gold Corp (EM) GBGD

Metals & Mining Industrial Metals & Minerals
Global Gold Corporation engages in the exploration, development, and mining of gold, silver, and other minerals in Armenia and Chile. The company holds an interest in The Toukhmanuk Property, located in the north central Armenian belt, covering an area of 53.76 square kilometers, as well as 100% interest in the Marjan property located in southwestern Armenia, covering an area of 19.6 square kilometers; and the Getik property located in northeastern Armenia, covering an area of 27 square kilometers. The company was formerly known as Triad Energy Corporation and changed its name to Global Gold Corporation in 1995. Global Gold Corporation was incorporated in 1980 and is based in Rye, New York.


EXPM:GBGD - Post by User

Global Gold Corp (EM)
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  • goldman888X
Post by goldman888on Feb 04, 2016 5:26pm
171 Views
Post# 24526025

What is the STATUS of Global Gold Corp?

What is the STATUS of Global Gold Corp?No news here isnce 2013.  In 2015 the compnay announced that their "contract" miner, Linne Mining, hired to put the Tukhmanuk Gold Mine in Armeni in to prodcution walked away and was demanding over $3 million in payments.  Global Gold Corp did not disclose the reasons.

I appears the reason that Linen Minng walked away was because the data provided by GBGD and used to build the mining plan is invalid, if not fraudulent.  

My assumption is supported by the following 2 documents (see links below) I discovered posted on the internet. These documets indicate that the data set is suspect and that the data used in the 3D resource model was invalid.

See:
 

The data indicated that GBGD's Tukhmanuk Gold Mine can only recover about 50,000 oz of gold over 5 years from the stated 2 million oz of resource that it has published.  

The GBGD, Tukhamanuk Gold Mine appears to be dead.

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