I note that Van Z. Krikorian (VZK) fired off an email as an attempt of some form of deflection of the facts and my claims that VZK is engaged in fraud in relation to disclosures to the Toukhmanuk Gold project in Armenia and GBGD's SEC filings. Mr. VZK claims that my claims have been found to be "defamatory". By who? VZK?

 

With respect to the accusation that Mr. Cusiani is a "virulent anti-Armenian racist"  is not shocking. Van resorts to attacking people publicly when he is caught in a lie (Cafesjian fiasco comes to mind..I am sure there are others).

 

Mr. Cusiani is an engineer who operates a consulting firm GEO-LOGARITMICA ( http://www.geo-logaritmica.com/mining.htm ) in the Republic of Georgia (his CV is attached). Mr. Cusiani was hired by Mr. Janiko Kaplanishvilly of Linne Mining. The result of his analysis of the GBGD data resulted in Linne Mining abandoning the project. These reports are "not a product" designed to attack Armenia, GBGD and Van Krikorian. Linne Mining is owed approximately USD$5.8 million and from last reports, Linne is suing GBGB subsidiary in Armenia for USD$35 million.

 

As the Co-chair of the Armenian Assembly of America Board of Trustees, Mr. Van Z Krikorian has resorted to publicly defaming a simple engineer for doing simple engineering analysis on a flawed project. Since when does the leadership of the AAA act so recklessly.  

 

Mr. Krikorian cannot deflect the facts of the Geo-Logaritmica reports. These reports are a smoking gun and Van knows it. 

 

Please note that VZK has welcomed you to "... in the future any of the people who contacted you can also contact me directly.   I am happy to answer any concerns."

 

Not to let such a great opportunity go unchallenged, I welcome you to ask the following questions to VZK:

 

1) Why did Linne Mining walk away from the project? The facts show that the gold grades produced by GBGD and signed off by its President, CEO, Director and Legal Counsel, Mr. Van Krikorian, have been manipulated/fake/fraudulent.

 

2) Why did VZK not disclose the CSA Global data? The data showed the analysis of core samples and pulps from the Toukhmanuk project did not correlate with GBGD published results. See CSA Global email and notes at http://toukhmanuk-gbgd-fraud.com (updated September 19, 2017)

 

3) Why was the material data of the CSA Global fiasco hidden from investors and JV partners? Mr VZK cannot claim he knows nothing about the CSA data. Here is an email from him:

 

From: Van Z. Krikorian [mailto:vkrikorian@globalgoldcorp.com] 

Sent: Friday, April 20, 2012 5:21 PM 

To: cayce.kara@dorsey.com; thompson.paul@dorsey.com Cc: Jan Dulman; JBorkowski@rasiagroup.com; aboghossian@ggm.am; jeschmeltzer@pbwt.com; jeff marvin; Ian Hague Subject: 

RE: Consolidated ­ Global Closing and Contract issues RE: MG and Getik Intercompany Loan Documents 

 

We have been informed that funds to cover the ABB loan payment due from Consolidated did not make it to Armenia in time to make the loan payment today, resulting in an event of default. We have no confirmation that any of the other funds due from Consolidated have been transmitted either, which means we will have to figure out a way for Consolidated to cure its breaches and waive the breaches in order to close. ABB just closed its offices for the week in Armenia and we were informed shortly before closing. We also, obviously do not have the consent letter from ABB now either, which is an additional complication. 

 

A little while ago I received the attached email from Joe Borkowski, with the following message: “You asked for a CSA update. Well here’s your update Van. ” In item # 10 below the following is and continues to be requested ”please provide us with all the emails with CSA; CSA will also need to be instructed that it should be transparent and responsive to Global.“ The fact that CSA was not in communication with Global and coincidentally produced what appears to be a negative report today only increases the importance of delivery of those emails and the need for transparency. In addition to my meeting at 10 this morning we have a Global board meeting after that, but I will be available in the afternoon to discuss the closing items. 

 

 

4) Why was a material fact of a meeting with JV partner  Linne Mining, and its President Mr. Janiko Kaplanishvilli and his Mining Engineer, Sergo Cussiani, where VZK was told the project was essentially a fraud and they are walking away, not disclosed in Press Releases or SEC filings?  To this date, SEC filings do not state that Linne MIning walked away because there was no gold to mine. Van Krikorian fraudulently omits facts that make a statement misleading in his 10K SEC filings:

 

On July 5, 2013, GGCRL and the Company entered a financing and mine contractor agreement with Linne Mining and associated parties to mine the central section of Toukhmanuk. Equipment for a major plant expansion was purchased and delivered in 2014. Linne failed to perform and ultimately abandoned the mine operation in 2015 prior to completing the new plant or complying with its obligations to mine under the relevant agreements. While Linne procured and began assembling a new processing plant at Toukhmanuk, it abandoned completing the work as well as mining in accordance with relevant agreements and approved plans. Linne asked to be relieved of its responsibilities but terms for accommodating that request have not been agreed to and Linne continues to be responsible. The Company’s requests for substantiation of expenses and disbursements from Linne have been refused through the end of 2016, despite repeated requests to Linne and its counsel.  

 

 

5) Where is the letter that Linne Mining made a "request" to be relieved of its responsibilities? GBGD and VZK have failed to disclose this request because it would indicate that the Toukhmanuk Project is a fraud.

 

Please distribute to anyone that VZK has communicated with and as always I welcome any of you to call me for more information or clarification.

 

 

Bill Mavridis

Whistle Blower

514-813-9200

Montreal, Qc CANADA