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Caldera Resources Inc. (CVE:CDR) reports on additional disclosure clarification to its claims relating to the Marjan project.
The press release is quoted as saying:
It should be noted that:
1. Caldera entered into the joint venture agreement on March 24, 2010;
2. The JVA became effective on June 18, 2010 with the payment of fees and the approval of the 43-101 by the TSX-Venture Exchange;
3. Caldera has made all payments required by the JVA to its estranged JV Partner Global Gold Corporation (the parent company of Global Gold Mining, LLC) (collectively “Global Gold”) and indeed made additional payments to the government of Armenia prior to the coming into force of the JVA in order to protect the license on the Marjan Property;
4. On or about October 18, 2010, Caldera discovered a scheme, which was devised by Mr. Van Krikorian, the CEO and Chairman of Global Gold, to secretly file a claim against the State Registry of Legal Entities of Armenia with the Administrative Court of Armenia, without the knowledge of Caldera. This was done in an attempt to reverse the registration of the JVA and take back the Marjan project by the back door (more below) while attempting to bypass the arbitration process;
5. Caldera has taken all actions necessary to defend its rights in Armenia and to protect the license on the Marjan Property;
6. Caldera has received confirmation that Marjan Mining Company LLC (MMC-RA) has all rights conferred by the Mining License on the Marjan Property as recently as March 2011;
7. Caldera has properly filed a claim in arbitration against Global Gold and it is scheduled to be heard on August 23, 2011.