This is very good news folks. The long range forecast for the area is also favourable. Getting back up and running and the SP should rise nicely. FWIW picked up some shares at 6 cents today. SMF

Carpathian obtains $10-million (U.S.) facility increase

2014-01-27 09:56 ET - News Release

Mr. Guy Charette reports

CARPATHIAN GOLD INC. PROVIDES CORPORATE UPDATE

Carpathian Gold Inc. has concluded an extended forbearance and amendment agreement with Macquarie Bank Ltd. The agreement provides for a $10-million (U.S.) increase in the amount of funds made available under tranche 3 of a project finance facility entered into between Macquarie and the corporation's wholly owned subsidiary, Minercao Riacho dos Machados Ltda. Under the terms of the agreement, the forbearance expires on Jan. 31 with repayment of any funds drawn down to be effected by Feb. 28 of this year. Carpathian's representatives plan to meet with representatives of Macquarie later this week in order to discuss further extensions to the forbearance. There is no assurance that any or all of the funds to be provided to MRDM under the terms of the agreement will actually be made available to it, as any disbursements thereof remain solely at Macquarie's discretion, nor is there any assurance that Macquarie will agree to any extension of the forbearance.