This was as expected. I fully expect Macquarie to continue the extensions. The remediation will take a little more time. Hopefully by the end of February. SMF

Carpathian Gold amends forbearance deal with Macquarie

2014-02-04 08:34 ET - News Release

Mr. Guy Charette reports

Carpathian Gold Inc. has concluded an extended forbearance and amendment agreement with Macquarie Bank Ltd. in respect of the project finance facility entered into between Macquarie and the corporation's wholly owned subsidiary, Mineracao Riacho dos Machados Ltda., and it has received the first drawdown provided for under the agreement. The agreement extends the previously announced forbearance period which expired on Jan. 31, 2014, to Feb. 7, 2014. There is no assurance that Macquarie will agree to any further extension of the forbearance nor that it will permit MRDM to draw down the balance of the funds available under the agreement.