Int'l Speculator refreshes Carpathian buy

2012-05-25 18:53 ET - In the News

The International Speculator, in its May 7, 2012, issue, refreshes its buy of Carpathian Gold Inc. at 31 cents, officially, "Best buy." The newsletter said buy on Dec. 1, 2011, at 43.5 cents. Assuming an investment of $1,000, the position is worth $706. The writer goes over the press releases and notes that Carpathian had no news during April. He is, however, pleased the company's construction in Brazil at Riacho Dos Machados continues on track. By his calculations, Carpathian shareholders get Romania's "elephant-sized" Rovina Valley gold project for free. He approves of the Romanian government's move to privatize its hydropower businesses, a move he thinks shows the former East Bloc country is liberalizing its economy. Rovina Valley contains 43-101-compliant resources of seven million ounces of gold and 1.4 billion pounds of copper. While he has concerns about Rovina's low grade, Barrick Gold Corp. likes the project enough to have bought a $20-million private placement. In Brazil, Riacho Dos Machados boasts 1.5 million ounces of gold in 43-101-compliant resources with a good grade for open pit. The writer calls Carpathian a great buy at current levels