UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported) November 13, 2009
Global
Gold Corporation
(Exact
name of registrant as specified in its charter)
Delaware
|
02-69494
|
13-3025550
|
(State
or other jurisdiction
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(Commission
|
(IRS
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
45
East Putnam Avenue, Greenwich, CT
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06830
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code (203) 422-2300
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17 CFR
240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to Rule 133-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item
8.01 Other Events
On
November 18, 2009, the Company issued a press release announcing that following
up on the issuance of the approving a first stage gold reserve, the Republic of
Armenia’s State Natural Resources Agency (the “Agency”) has delivered its full
decision with backup calculations on November 13, 2009 confirming an additional
gold resource in the inferred category. The Agency issued its decision based on
the proposal of the Agency’s State Geological Expert Commission made during its
October 23, 2009 session. A copy of the official approval and a partial
unofficial translation are available on the company’s website
www.globalgoldcorp.com
.
The
approved gold resource in the Inferred category is 35 tonnes (or 1,225,276
ounces), which together with the approved 1.145 million ounces of reserves marks
a sharp increase from the 8.0 tonnes approved under GKZ decision N28 of January,
26, 2004. The reserve and resource estimates were concluded at a cutoff grade of
0.8 grams per tonne, all as described in Exhibit 10.3 below.
Cautionary
Note to U.S. Investors – All mineral reserves have been estimated and disclosed
in accordance with the definition standards on mineral resources and mineral
reserves of the Republic of Armenia State Natural Resources Agency as provided
by the Republic of Armenia’s Regulation for Applying Reserves Classification for
Gold Deposits. U.S. reporting requirements for disclosure of mineral properties
are governed by the United States Securities and Exchange Commission “SEC”
Industry Guide 7. Armenian, International, and Guide 7 standards may not be
consistent. The United States Securities and Exchange Commission limits
disclosure for U.S. reporting purposes to mineral deposits that a company can
economically and legally extract or produce. We use terms such as “reserves,”
“resources,” “geologic resources,” “proven,” “probable,” “measured,”
“indicated,” or “inferred,” which may not be consistent with the reserve
definitions established by the SEC. U.S. investors are urged to consider closely
the disclosure in our Form 10-K. You can review and obtain copies of these
filings from our website or at
http://www.sec.gov/edgar.shtml
.
Investors are cautioned not to assume that any part or all of mineral resources
will ever be confirmed or converted to Guide 7 compliant “reserves.” The
information in this release reports on the legal document issued by the Armenian
Agency.
A copy of
the press release is furnished as Exhibit 99.1 to this Current Report on Form
8-K and incorporated herein by reference.
Exhibit
No.
Description
10.3
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Armenian
State Natural Resources Agency Decision N234 on the
Recalculation
of Reserves for Toukhmanuk – delivered Friday,
November
13, 2009 – Partial Unofficial Translation
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99.1
|
Press release on November 18, 2009, by Global Gold
Corporation
announcing the approval of inferred gold resource
in addition
to previously approved gold reserve at Toukhmanuk
in Armenia.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated:
November 19, 2009
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Global Gold
Corporation
|
|
|
|
|
|
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By:
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/s/ Van
Z. Krikorian
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|
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Name:
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Van Z.
Krikorian
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|
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Title:
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Chairman and Chief Executive
Officer
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|
|
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|
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Exhibit
99.1
GLOBAL
GOLD ANNOUNCES GOVERNMENT APPROVAL OF INFERRED GOLD RESOURCE OF OVER 1.125
MILLION OUNCES IN ADDITION TO PREVIOUSLY APPROVED GOLD RESERVE OF 1.145 MILLION
OUNCES AT TOUKHMANUK IN ARMENIA
First
Stage of Approval
GREENWICH,
CT - (Marketwire)- November 18, 2009 – Global Gold Corporation (OTCBB: GBGD) is
pleased to announce that following up on the issuance of the certificate
approving a first stage gold reserve of 1.145 million ounces, the Republic of
Armenia’s State Natural Resources Agency (the “Agency”) has delivered its full
decision with backup calculations on November 13, 2009 confirming an additional
gold resource in the inferred category. The Agency issued its decision based on
the proposal of the Agency’s State Geological Expert Commission made during its
October 23, 2009 session. A copy of the official approval and a partial
unofficial translation are available on the company’s website
www.globalgoldcorp.com
.
The
approved gold resource in the Inferred category is 35 tonnes (or 1,225,276
ounces), which together with the approved 1.145 million ounces of reserves marks
a sharp increase from the 8.0 tonnes approved under GKZ decision N28 of January,
26, 2004. The reserve and resource estimates were concluded at a cutoff grade of
0.8 grams per tonne.
Global
Gold announced the first stage of Government reserve approval for C1 and C2
categories of 35.614 tonnes of gold and 107 tonnes of silver at Toukhmanuk on
October 27, 2009. The approvals followed a significant discovery at the
Toukhmanuk Central Area (2.2 sq km) announced in October 2008 and a review of
the company’s technical submission in March 2009. In its approval, the Agency
added that the “approved reserves entirely correspond to the requirements for
Measured and Indicated reserves under International Standards.” Before relying
on any reserve or resource reporting, however, investors should read the
“Cautionary Note” and “Forward-Looking Statements” terms included at the end of
the release.
161
diamond drill holes for a total of 23,188 meters have been completed at
Toukhmanuk. The objective of the diamond drilling was to explore near surface
gold-polymetallic sulphide mineralization along the major west-northwest trading
shear zone. The first stage Agency decision also confirms that mineralization
continues in all directions and further exploration is required.
Global
Gold’s 2010 exploration program will focus on expanding the Toukhmanuk project
and on upgrading the gold resources to proven and probable reserve standards.
The company’s production program includes expansion to 15,000 ounces per year in
2010 and then to an industrial production level of over 100,000 ounces per
year.
Global
Gold is an international gold exploration, development, and mining company
headquartered in Greenwich, CT. The company operates three gold properties in
Armenia and owns an alluvial gold deposit in southern Chile. While the entire
Toukhmanuk license area is 53.76 sq km, work to date has focused on a portion of
the 2.2 sq km Central Area.
Cautionary
Note to U.S. Investors — All mineral reserves have been estimated and disclosed
in accordance with the definition standards on mineral resources and mineral
reserves of the Republic of Armenia State Natural Resources Agency as provided
by the Republic of Armenia's Regulation for Applying Reserves Classification for
Gold Deposits. U.S. reporting requirements for disclosure of mineral properties
are governed by the United States Securities and Exchange Commission "SEC"
Industry Guide 7. Armenian, International, and Guide 7 standards may not be
consistent. The United States Securities and Exchange Commission limits
disclosure for U.S. reporting purposes to mineral deposits that a company can
economically and legally extract or produce. We use terms such as "reserves,"
"resources," "geologic resources," "proven," "probable," "measured,"
"indicated," or "inferred," which may not be consistent with the reserve
definitions established by the SEC. U.S. investors are urged to consider closely
the disclosure in our Form 10-K. You can review and obtain copies of these
filings from our website or at
www.sec.gov/edgar.shtml
.
Investors are cautioned not to assume that any part or all of mineral resources
will ever be confirmed or converted to Guide 7 compliant "reserves." The
information in this release reports on the legal document issued by the Armenian
Agency.
Forward-looking
Statements — To the extent that statements in this press release 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 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.
Global
Gold Corporation
www.globalgoldcorp.com
is an international gold mining, development, and exploration company with
mining properties in Armenia and Chile. The Company is committed to building
shareholder value and maintaining social and environmental
responsibilities.
Contact:
Courtney
Fellowes
VP,
Business Development and Investor Relations
Global
Gold Corporation
45 East
Putnam Ave.
Greenwich,CT
06830
(203) 422
2300
cfellowes@globalgoldcorp.com
www.globalgoldcorp.com
Source:
Global Gold Corporation