UPDATE: Carpathian Gold Down 2%; Receives Government Go-Ahead to Build RDM Mine, Brazil
Carpathian Gold Inc. (CPN.TO) went down by about 2% after reporting that it has received the Ad Referendum for the Licenca Instalacao thereby enabling it to proceed with the overall construction of its 100% owned Riacho dos Machados Gold Project, located in Minas Gerais State, Brazil. The company said it will expedite the construction of the project with the targeted goal for the commencement of gold production in late 2012/early 2013 at a nominal anticipated production rate averaging +94,000 ounces per annum for an initial eight year period.
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