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| Stock Price for GBGD |
| Market Price |
$0.21 |
| Change |
$0.00 |
| Volume |
0
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| (20
minute delay) |
US $/lb |
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| INFORMATION |
| Authorized Shares: |
100,000,000 |
| par value $.001 per share |
| Shares Outstanding: |
33,601,885 |
| Fully Diluted:
|
41,314,383
|
| Share Holders: |
1,275 |
| MAJOR SHAREHOLDERS |
| Firebird Management |
27% |
| Farallon Capital |
16% |
| Management |
23% |
|
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GGlobal Gold Corporation (Global Gold) is an international gold and
uranium mining, development and exploration company with properties
and offices in Armenia, Canada, and Chile. Originally incorporated
in 1980, Global Gold’s headquarters are in Greenwich, CT, and
the company’s trading symbol is GBGD. Global Gold Uranium, LLC
is a wholly owned subsidiary of Global Gold with offices in Toronto.
At every level, the Company is committed to best practices, building
shareholder value, and maintaining social and environmental responsibilities.
More information can be found at www.globalgoldcorp.com.
In Armenia, Global Gold’s current production, exploration, and
development focus primarily revolves around the North Central Armenian
Belt, where it is integrating the Hankavan deposit, Toukhmanuk mine,
and at least thirteen other adjacent gold exploration sites. Hankavan
is located in north-central Armenia between Vanadzor and Meghradzor
north of the Marmarik River, and Global Gold has been conducting a
drill program there to confirm the historical GKZ reported resources
of 115 million tonnes in two zones containing 1 million ounces of
gold (1.42 g/t), 129,000 tonnes of copper (0.58%), and 60,000 tonnes
of molybdenum (0.054%). In addition, the Company is conducting exploration
and planning to determine the feasibility of a quick start mining
operation on the copper oxide zone.
Toukhmanuk's historical GKZ reported resource indicates 12.1 million
tonnes of ore averaging 6.74 g/t gold and 30.79 g/t silver in P1
and higher categories. The license area borders Hankavan immediately
to the west. The property includes an operating plant with an open
pit and the Company anticipates revenue from recommencing small
scale production in the 3rd quarter 2007. At the same time, a drill
program commenced in 2006 to confirm the historical data and quantify
reserves in accordance with Western standards. (Note, Global Gold’s
confirmatory work to date has indicated that based on preliminary
analysis, it is anticipated that Tukhmanuk may include a wider zone
of mineralization to be bulk mined, rather than a higher grade narrow
vein underground operation as the initial reports indicated.) The
company has built its own international class mine laboratory facility
at Toukhmanuk. For quality control, check assays are done outside
Armenia. Announcement of the results and analysis is now expected
in the third quarter of 2007.
Outside the north central belt in Armenia, Global Gold is engaged
in a major exploration and drill program at Marjan in the southwestern
Syunik province. The historical resources of a polymetallic deposit
estimated by GKZ are reported to contain some 4.6 million tonnes
estimated at average grades ranging from 2.48 to 2.99 g/t gold,
84.41 to 92.51 g/t silver, 1.24% to 1.29% lead, and 0.88% to 1.02
% zinc. Announcement of results and analysis is now anticipated
in the fourth quarter of 2007.
In January 2006, Global Gold acquired the Getik property in Armenia.
The license area is approximately 27 square kilometers and the property
is located in the northeast of Armenia in the Geghargunik region.
This property had been explored during the Soviet era for gold and
uranium, and the current exploration program is staged over a period
of 3 years, with drilling in each year.
In addition, in Armenia, Global Gold owns a 2.5% NSR royalty interest
from Tamaya Resources (formerly Iberian Resources) in and around
the southern Armenian mines of Lichkvadz-Tey and Terterasar as well
as a right to participate up to 20% in new exploration undertaken
in Armenia by Iberian/Tamaya.
In the mid 1990’s, Global Gold began operating in Armenia
through a joint venture with the government by developing the Zod
and Meghradzor deposits along with the reprocessing of tailings
and plant at the Ararat plant southeast of the capital city, Yerevan.
These projects were subsequently acquired though an earn in for
stock, cash, and other consideration by First Dynasty Mines Ltd.,
since renamed Sterlite Gold Ltd., which was acquired by Vedanta
Resources in 2007. Global Gold retains the right to participate
up to 20% in any new exploration undertaken by Sterlite Gold/Vedanta
or its successors in Armenia.
In Chile, Global Gold has an office in Santiago, engages in exploration
and development, and currently has a royalty interest in the Santa
Candelaria copper/gold property in the Chanaral District III in
Chile. This property consists of approximately 1,100 acres, including
the Candelaria Mining Claims 1 to 3; Santa Candelaria 1 to 8; and
the Torino I, 1 to 7 and Torino II, 1 to 11, lying between the major
copper mines of El Salvador and Potrerillo. The company also reviews
new properties for potential acquisitions and development, alone
or with partners.
In Canada, Global Gold Uranium LLC is working at three uranium
exploration properties in the province of Newfoundland and Labrador.
Prospecting is conducted at and around the Grand Lake and Shallow
Lake properties in central Labrador. In April 2007, Global Gold
Uranium entered into an option agreement on the Cochrane Pond uranium
target in Newfoundland with Commander Resources Ltd., and Bayswater
Uranium Corp.
The Cochrane Pond property consists of 2,600 claims within 61,000
hectares (approximately 150,708 acres). The claims were staked in
early 2006 based upon favorable geology following discovery of uranium
potential nearby. The property is located in the southeast of Newfoundland,
and a map showing the location is available on the Global Gold website.
In July 2007, Global Gold Uranium, LLC commenced an airborne radiometric
and magnetic survey over the Cochrane Pond. Following the survey,
a prospecting program will continue in 2007.
Global Gold’s three largest shareholders are Firebird Management,
Farallon Capital, and the Company’s management. Senior management
includes: Van Krikorian, Chairman and CEO (Greenwich); geologist
Hrayr Agnerian Senior Vice President (Toronto); geophysicist Ted
Urquhart, Ph.D. Vice President (Santiago); Jan Dulman, CPA, Chief
Financial Officer (Greenwich), Drury J. Gallagher, Treasurer and
Chairman Emeritus (Greenwich), and Ashot Boghosian, Regional Director
Global Gold Mining, LLC (Yerevan).
Disclaimer: To the extent that statements are
not strictly historical, including statements as to revenue projections,
business strategy, outlook, objectives, future milestones, plans,
intentions, goals, future financial conditions, future collaboration
agreements, the success of the Company's development, events conditioned
on stockholder or other approval, or otherwise as to future events,
such statements are forward-looking, and are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. The forward-looking statements contained in this release
are subject to certain risks and uncertainties that could cause
actual results to differ materially from the statements made. Former
Soviet country or "GKZ"; estimations are presented for
historical reporting and to provide a basis for assessing Global
Gold's choices for its business activities and not to be understood
as indicating the existence of reserves or resources..
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