This is the main reason why today's news out of Carpathian Gold (CPN.to) is strong. Add the fact that the RDM project already has its environmental permits in place and we have a positive situation developing here. This one will be a mine and will produce gold, take that to the bank. It'll probably start on time in mid-2011, too. Here's the NR, and make sure you DYODD dude cos I own this little beauty:
TORONTO, ONTARIO--(Marketwire - April 15, 2010) - Carpathian Gold Inc. (TSX:CPN - News; the "Corporation" or "Carpathian") wishes to report that it has received the Licenca Previa ("LP"), the first of three permits, that allows Carpathian to proceed to build, develop and operate the 100% owned Riacho dos Machados ("RDM") Gold Project, located in Minas Gerais State. In addition, the definitive feasibility study is progressing on-target for completion at the end of the second quarter of 2010.
Mineracao Riacho dos Machados ("MRDM"), the wholly owned Brazilian subsidiary of Carpathian has received the approval for the Licenca Previa ("LP"), which is the first of three permits that are required by the Brazilian environmental agency, COPAM, that now allows Carpathian to proceed to build, develop and operate the RDM Gold Project. Carpathian can now initiate land works on the project, such as pre-stripping, construction of the tailings dam and land clearing for the infrastructure. With support documentation from the on-going feasibility study Carpathian will advance to the next step in obtaining the Licenca Instalac o ("LI") that will allow construction to begin on the project. The anticipated target date for the LI to be granted is July of this year. The final permit, the Licenca Operac o ("LO"), which is the final permit required to operate the mine will be obtained when the construction of the project is nearly complete.
Carpathian is also pleased to announce that Hatch Brasil has been commissioned to oversee the completion of the feasibility and will be retained for the management of the engineering, procurement, construction, and the cost control of the project.
The feasibility study is progressing with the anticipated completion at the end of the second quarter. Geologic modelling for the new resource estimate has been completed and includes all data from the phase II in-fill drilling program within the Preliminary Economic Assessment open pit design. This new resource estimate, which is currently underway, will likely be released in conjunction with the reserve estimate at the same time as the public release of the NI 43-101 compliant feasibility study. The results of the in-fill drilling program indicate that the conversion rate of inferred resources to the measured plus indicated category will likely exceed the target of 95%. CONTINUES HERE