12 Apr 2006director interest notice● Neutral
Farallon Partners L L C/ca became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
12 Apr 2006director interest notice● Neutral
Farallon Capital Partners LP became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
5 Apr 2006capital raising announcement▲ GoodMajor
On April 4, 2006 Global Gold sold 10,400,000 shares at $1.25 for $13,000,000 in a private placement, with one $2.00 warrant for every three shares, exercisable until the sooner of April 1, 2008 or 60 days after a trading-price trigger of $3.00 after August 1, 2006. Aton Securities was placement agent and received warrants for 1,000,000 shares at $1.25 within 18 months. Proceeds are for Armenian and Chilean projects, acquisitions and working capital; this is far larger than the $3,000,000 raise of July 2005 and dilutes existing holders.
What it means for a shareholder
10.4m new shares at C$1.25 to raise about C$13.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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1 Feb 2006asset acquisition disposition▲ Good
The Getik acquisition closed on January 31, 2006: Global Gold's subsidiary received 80% of Athelea Investments for 100,000 Global Gold shares, with non-Getik assets returned to the sellers and the company renamed Getik Mining Company. This completes the deal announced January 25.
25 Jan 2006asset acquisition disposition▲ GoodMajor
On January 23, 2006 Global Gold's subsidiary agreed to buy 80% of Athelea Investments, CJSC for 100,000 Global Gold shares, with closing expected January 31, 2006. After closing, assets unrelated to the roughly 27 square kilometre Getik gold/uranium exploration area in Armenia go back to the sellers and the company is renamed Getik Mining Company. This adds uranium exploration to the Armenian portfolio.
24 Jan 2006asset acquisition disposition● Neutral
As of January 13, 2006 Global Gold's Chilean unit agreed to transfer the Candelaria 1, 2 and 3 gold mining concessions to Chilean citizen Adrian Soto Torino, who takes over all liabilities and fees. Global Gold gets a 10% net smelter royalty until $75,000 is paid, then 2% for the life of the mine, and can reacquire the concessions on 60 days' notice for 1,000,000 Chilean pesos (about $1,883).
16 Dec 2005asset acquisition disposition● Neutral
This is an amended copy of the August 1, 2005 filing and repeats the same Tukhmanuk/Mego-Gold purchase ($3,500,000) and $3,000,000 private placement. The text shown has no visible changes, so nothing new is reported.
8 Nov 2005director interest notice● Neutral
Simon James Cleghorn became a GLOBAL GOLD CORP Director and company insider (initial ownership filing).
8 Nov 2005director interest notice● Neutral
Gallagher Drury J became a GLOBAL GOLD CORP CEO/Chairman and company insider (initial ownership filing).
2 Nov 2005listing compliance notice● Neutral
On October 31, 2005 Global Gold issued 220,000 shares at $0.25 ($55,000 total) when holders exercised warrants originally issued October 31, 2000. The buyers named include Stephen Field, Lisa Baumann and several people surnamed Gallagher (the CEO's surname; any family relationship is an inference). This is a small share issuance, not a listing compliance matter despite the item label.
1 Nov 2005director interest notice● Neutral
Caesar Lester S became a GLOBAL GOLD CORP Chief Financial Officer and company insider (initial ownership filing).
1 Nov 2005director interest notice● Neutral
Pastorino Frank Anthony V became a GLOBAL GOLD CORP Director of Business Operation and company insider (initial ownership filing).
1 Nov 2005asset acquisition disposition● NeutralMajor
As of October 28, 2005 Global Gold's subsidiary formed Marjan Mining Company with Caucasus Resources to develop the Marjan Gold Project in southeast Armenia, held through SHA, LLC, which Global Gold bought in December 2003. Caucasus starts at 40%, rises to 51% after spending $500,000, and can earn up to 80% once production starts, leaving Global Gold 20%. Caucasus pays development costs, but Global Gold gives up majority ownership of the project.
1 Nov 2005director interest notice● Neutral
Dulman Jan became a GLOBAL GOLD CORP Controller and company insider (initial ownership filing).
31 Oct 2005asset acquisition disposition● NeutralMajor
On October 27, 2005 the Aigedzor joint venture signed an agreement to buy 100% of Sipan 1, LLC from Albert Sakhkalian for $4,550,000: $3,500,000 at closing through escrow, a $50,000 credit for Global Gold's earlier deposit, and $1,000,000 within three years, guaranteed by the venture. Global Gold contributes $260,000 plus its own costs for its 20% share, and Caucasus Resources funds the rest until production. This carries out the August 2005 joint venture.
15 Aug 2005asset acquisition disposition● NeutralMajor
On August 15, 2005 Global Gold's subsidiary agreed to form the Aigedzor Mining Company with Australian firm Caucasus Resources, owned 80% by Caucasus and 20% by Global Gold, to acquire Sipan 1, LLC (Litchkvadz-Tey and Terterasar mining properties and plant in southern Armenia) and explore within 20 km of Aigedzor. Global Gold takes a minority 20% stake in this venture.
8 Aug 2005director interest notice● Neutral
GLOBAL GOLD CORP 10%+ owner Sawikin Harvey bought 6,000,000 shares on the open market.
4 Aug 2005director interest notice● Neutral
GLOBAL GOLD CORP director Hague Ian bought 6,000,000 shares on the open market.
3 Aug 2005asset acquisition disposition▲ GoodMajor
On August 1, 2005 Global Gold agreed to buy Armenian company Mego-Gold, LLC, licensee of the Tukhmanuk mine next to its Hankavan property, with a 200,000 tonne-per-year plant and seven exploration sites, for $3,500,000: $1,500,000 now for 51%, the balance for the other 49% within two years. It also closed a $3,000,000 private placement on July 29, 2005 of 4,000,000 shares at $0.75, each with a warrant for half a share at $1.50 exercisable to July 31, 2007. The company says proceeds will fund the Tukhmanuk acquisition and expansion, other projects and working capital.
23 May 2005director interest notice● Neutral
Boghossian Ashot became a GLOBAL GOLD CORP Reg. Dir., GBGD Mining, LLC and company insider (initial ownership filing).
23 May 2005director interest notice● Neutral
Gallagher Drury J became a GLOBAL GOLD CORP Chief Executive Officer and company insider (initial ownership filing).
23 May 2005director interest notice● Neutral
Urguhart William became a GLOBAL GOLD CORP Vice President, South America and company insider (initial ownership filing).
23 May 2005director interest notice● Neutral
Aynilian Nicholas J became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
23 May 2005director interest notice● Neutral
Mason Michael T became a GLOBAL GOLD CORP director and company insider (initial ownership filing).
23 May 2005director interest notice● Neutral
Krikorian Van became a GLOBAL GOLD CORP Vice President and company insider (initial ownership filing).
6 Apr 2005director interest notice● Neutral
Hague Ian became a GLOBAL GOLD CORP director and company insider (initial ownership filing).
15 Nov 2004director interest notice● Neutral
Sawikin Harvey became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
12 Nov 2004director interest notice● Neutral
Firebird Management LLC became a GLOBAL GOLD CORP 10%+ owner and company insider (initial ownership filing).
16 Aug 2004late filing notice▼ Bad
GLOBAL GOLD CORP notified the SEC that its quarterly report would be filed late.
4 June 2004auditor change▼ Bad
Marcum & Kliegman resigned as auditor on May 27, 2004, the same day the board approved terminating it, and Allen Roth, P.A. was engaged as the new auditor. Marcum's report on 2003 included a going-concern paragraph, and the filing reports no disagreements. This is the second auditor change in about a year, following the May 2003 switch from Grassi to Marcum.