Monday, August 4, 2014

CALDERA Abandons Arbitration: Bill Mavridis Tenders His Resignation

Monday August 4, 2014 - Montreal - Caldera announced today that due to severe financial hardship and lack of resources to pursue a defense and claims against GGC for US$220,000 and a 0.50% NSR on the Marjan Project (as submitted), CALDERA is abandoning its participation in the current Arbitration.

Furthermore, Bill Mavridis tendered his resignation as officer and director of the corporation effective August 4, 2014.

All further communications should be addressed to the Board of Directors at:

Attn: Board of Directors
124 - 1220 rue, Beauharnois
Montreal, Quebec H4N 1J5

Tuesday, May 13, 2014

Caldera vs. Global Gold Corp (otc markets:GBGD) Arbitration Restarts: Caldera Claiming Damages from GBGD's and Van Krikorian's Fraudulent Actions

Montreal, May 12, 2014 - Caldera provides the following Update on the current status of the Arbitration.

As of April 28, 2014, Arbitrator Herman Cahn, restarted the arbitration between Caldera and its estranged Joint Venture Partner Global Gold Corp, (otc markets: GBGD).

Caldera is claiming US$150,000 in advances made to GBGD and a 0.50% Net Smelter Royalty (NSR) from all future production from the Marjan Mine, as awarded by the Arbitrator.

Caldera is also claiming an undetermined sum for damages related to GBGD's and Mr. Van Krikorian's fraudulent actions, in misrepresenting that the Marjan License was in good standing, which had an effect of fraudulently inducing Caldera into signing a contract.

Caldera claims that GBGD and its President and Legal Counsel, Mr. Van Krikorian:
  • Made intentional actions, intentional statements, and through willful and premeditated fashion omitted to provide correspondences they had in their possession that proved that Marjan mining license was issued illegally and in contradiction of the Armenian Mining Code;
  • Made material misrepresentation and if Caldera was aware that the underlying license was in technical default and illegally issued it would have never entered into any deal with GBGD;
  • Made declarations that Caldera reasonably relied on, and;
  • Actions caused Caldera to suffer economic damages.
During the Arbitration hearing Caldera discovered documents which were willfully and purposefully hidden by GBGD and Mr. Van Krikorian in an effort to defraud Caldera into signing an agreement. These documents were official letters from the Armenian State Natural Resources Agency ("aka GKZ") addressed to GBGD's subsidiary. From the documents it is clear that in December 2007, GBGD's subsidiary had applied for approval of reserves on the Marjan project with the Armenian GKZ but the application for reserves was terminated by the Armenian GKZ on December 2008 due to incomplete application made by GBGD's subsidiary. This, 8 months after the Mining License HA-L-14/526 was issued on April 22, 2008.  Under the Armenian Mining Code it is illegal to issue a Mining License without approved mineral reserves and a mining license can not be issued without proper documentation in place.  It is evident that the Ministry did not follow its own laws and bureaucrats at the Ministry approved the issuance of mining license and permits illegally, and in complete contravention of the Armenian Mining Code. This a clear indication that the bureaucrats at the ministry were corrupted by GBGD.  Caldera has filed a complaint related to these matters with the US Department of Justice FCPA division and the SEC.

To this date, there are currently no official reserves for Marjan License which means that the license is illegal and can be terminated by the Armenian state at anytime. This opinion was also made public by the former Minister of the Environment and current Member of Parliament of the National Assembly of the Republic of Armenia, Mr.Vardan Ayvazyan (see Armenian Language YouTube videos below).

You can learn more about this by reading the following blog:   ALERT: Fraud and Corruption at the Marjan Mine in Armenia

For more information please contact

Bill Mavridis
Caldera Resources Inc.

Tel: 514-813-9200

Monday, April 7, 2014

Lawsuit Filed Against GBGD and its President, Van Krikorian by CRA

Montreal April 7, 2014 - According to the court roll published by the Royal Court of Jersey on March 28, 2014, Global Gold Corp and its CEO, Chairman, Director and Corporate Counsel, Mr. Van Krikorian,  are being SUED by Consolidated Resources Armenia (CRA).  CRA has invested approximately $7,000,000 in acquiring a 49% interest in GBGD's Armenian assets, namely the Toukhmanuk Gold mine and the Getik copper and gold exploration property. And now CRA is suing GBGD. Why?

I took the liberty to check the SEC filings for GBGD and there is no Form 8-K filed disclosing this lawsuit. By law GBGD must disclose material events, like a lawsuit, in 4 business days from having knowledge. There was no disclosure.

Global Gold did file a Form 8-K on February 3, 2014 stating that they have not closed Binding Heads of Agreement to merge GBGD's Armenia assets with Signature Gold of Australia. (see GBGD 8-K filing of September 5, 2013). It will be curious to see how GBGD and Van Krikorian, who received $7,000,000 cash from CRA, that they are not able to close a deal since 2011, and in fact this will be second deal they failed to close. And how will GBGD explain to the SEC that it has failed to file material disclosure Form 8-K explaining the lawsuit. In my previous blog I also provided PROOF that GBGD received a Ministerial Decree from Government of Armenia that its GETIK License was cancelled by the Ministry of Energy and Natural Resources, due to non-performance. This Ministerial Decree was issued on January 24, 2014  (see blog: GBGD Loses Getik Exploration License). Over 2 months have now passed and GBGD has not filed a Form 8-K to disclose this material event either.  Stay tuned.....As news filters out about this new lawsuit against GBGD and Mr. Van Krikorian I will bring the facts to your attention what GBGD has failed to disclose to investors in my continuing whistle-blowing effort to expose fraud at GBGD.

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