PINL:GBGD - Post Discussion
Post by
goldman888 on Feb 04, 2016 5:26pm
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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