May 28 2015
Carpathian Gold Inc. is pleased to announce that its wholly-owned subsidiary, Samax Romania S.R.L., has entered into an agreement with the Romanian National Agency for Mineral Resources whereby, it has been granted a 20-year mining license on its Rovina Valley Project.
The granting of the License represents the first and most important step in the licensing process. Under Romanian law, the License will come into effect upon final review by several government departments and its publication in the official gazette. The Corporation will now proceed with an update to the Preliminary Economic Assessment of 2010 which will outline revised project costs and evaluate scalability options.
The granting of the License represents the first time that Romania has granted a license for metals without the involvement of a state-owned enterprise.
About Carpathian
Carpathian is an exploration and development company whose primary business is gold production at its 100% owned Riacho dos Machados Gold Project in Brazil. In addition, it is also focussed on advancing its exploration and development plans on its 100% owned Rovina Valley Au-Cu Project located in Romania.
Source: http://www.carpathiangold.com/