Goldgroup Mining Inc V.GGA

Strange Game.

[StanOs]

Look at this sequence of events:

• Sept 23 - 10:1 share consolidation ~17.22M
• Nov 15 - CEO John McClintock resigns leaving part-time CFO and no managment team. Remaining controling directors include Javier Reyes who was Accendo Bancco. I believe there is a LOC facility and loan outstanding with the collapsed Accendo.
• Dec 12 - GGA signs agreement  for $2.16M with John McClintock's fund Calu Opportunity Fund. Loan convertable to 21.6M shares at $0.10 (~56%of company)
• Dec 19 - Private placement for 5.7M shares at $0.10 from unkown party.

According to the financial statements and MD&A released on Nov 14, the company has no published resources. It is mining without a resource or reserve. It has high current liabitiies and increasing losses.

Can anybody explain to me what is going on here? Was the PP a move to block the take over of control by Calu? Who took over the Accendo Banco Loan?

On surface this company look like nothing. There is the Cerro Prieto Mine that is mining rock that is not a part of a resource and loosing money at it? There is the claimed 50% interest in Dyna Resources' San Jose Garcia Mine, in which the Mexican

[StanOs]

continued...in which the highest Mexican court has ruled that Goldgroup has no claim. I think all apeals over that have been exhausted. Can anyone explain what is going on with Goldgroup Mining? Wild speculation welcome, as I cannot justify in my mind the financing by Calu or the PP. GLTA...

[StanOs]

I have done some research on Goldgroup.  It has had more insiders than a Nevada chicken ranch has walkins. Some of the past directors and officers of GGA have impressive CVs, and there have been a series of coups turning over managment. It was once a succesful explorer that was on its way to becoming a mid-tier producer. But since about 2013 it has not been impressive. Could not help but