RESPONSE TO SHAREHOLDERS
Q&A WEBSITE
March 20, 2008
We continue this week with answering the most commonly asked questions, in no particular order.
Q)
- “Does the 5% of the Global Gold Valdivia (Madre de Dios) project extend to 5% of the Ipun and Chiloe island projects also?
- Is it true that the options on the 2 island projects have been extended but not exercised yet?
- What is the current best estimate for the commencement of production at the Global Gold Valdivia/Madre?
- Any specs available on the size or production capacity of their first plant?
- Has the exploration team down there found anything yet or is it too early in the process to expect that. Paying out 100 million Euros tells me that either Roscoe Postle or GG’s own geological team must have found something pretty good.
- Is Turner’s project in production yet? If yes any production numbers yet?
- Was JJ paid his million Euros yet?
- Does Medinah get 5% of that?
- Farallon Capital out of San Francisco is an $8 billion hedge fund that owns 16% of Global Gold. We might want to schmooze up to them and encourage them to take a market position in us.
- Did JJ actually bring 8 sets of paperwork with him to the AGM (one for each of the 8 interested majors)?
- Were 2 of these readily signable by us to lock in a deal?
- Was that 150 million Euro plus a 15% free carried interest something that JJ had in hand at the AGM or something that he was seeking out?
- Could you make out the “dozen or so” intrusives that Clemente Sepulveda Perez referred to on the satellite reports?”
A)
- Yes
- Exercised
- Fall of 2008
- No
- Extensive exploration has been done and is continuing
- Yes. Progressing well but do not have specifics
- Yes. October 31, 2007
- No. We entered agreement in November 2007 after Global Gold completed agreement with Juan José Quijano
- No comment
- Yes
- Yes
- In hand
- Yes
Q) “please submit the following question for the weekly Q and A forum for response. Is there an indicated planned timeframe for which to sign one or several JV's based on the new scenario in the present negotiation process to enhance shareholder advantage because of the leverage of igher metals prices and greater markets? Also are the principals presently in the negotiation process now as they were before the end of 2007 or, if not what is the plan and schedule for getting them to the table for that result?”
A) The Company has a scheduled time frame in which to complete a Joint Venture Agreement. We continue in serious negotiations with the parties and their attorneys to assure the best return possible, both short and long term, for Medinah.
