Caldera Resources Inc. ("the Company" or "Caldera") and Global Gold Corporation ("GBGD") received an order on November 17, 2011, by the Arbitrator presiding over the dispute filed by Caldera against GBGD.
The order declares that "there shall be no sale, transfer, pledge, assignment, encumbrance and/or hypothecation" of the shares of Marjan Mining Company, LLC which holds the license to the Marjan Polymetallic Gold and Silver Project (the "Project") in Armenia. The same order applies to the membership interests in Marjan-Caldera Mining, LLC, the joint-venture vehicle were Caldera holds 55% interest in the Project. In addition, this order also applies in the same manner to the license for the Marjan Project.
The order was issued after the Armenian Regional Manager and the Chief Financial Officer for GBGD testified. It is expected that all testimony will be completed when the hearing continues on December 5-8, 2011. A decision on the ownership issues will be issued shortly thereafter and matters relating to damages will be addressed later.
