Carpathian Gold's Profile

mineral exploration and development Romania, Hungary & Brazil - N.I. 43-101, 5.09 M oz & inferred 5.66 M oz of Gold plus 175.0 M lbs of Copper .

Carpathian Gold Inc. Toronto, On, TSX : CPN, is principally a mineral exploration and development company. Through its subsidiaries, the Corporation is currently involved in the exploration and development of mineral properties situated in the Carpathian Arc region of Europe, predominantly in Romania, with minor exploration activity in Hungary.

Effective October 30, 2008, Carpathian closed its acquisition of a large exploration/development property, referred to as the Riacho dos Machados Property (“RDM”), in Minas Gerais State, Brazil and is actively assessing the exploration, development and production potential of RDM. The Corporation is also advancing its Rovina License property (“Rovina”) in Romania, where a NI 43- 01 mineral resource estimate was announced in mid 2007 and an update to this resource estimate will be completed and announced during the fourth quarter.

The combined effect of these two exploration/development platforms provides the Corporation with near term production potential at RDM, within a mining friendly jurisdiction, while it currently advances the Rovina property which will require a much longer lead time to possible production.

Carpathian Gold has

  • mineral exploration licenses in Romania and Hungary’s Principal Mineral Belts of the Carpathian Arc that are host to known world class Au and Cu deposits. The 94 Sq Km Rovina license hosts the Rovina and Colnic porphyries which are in the advanced exploration stage. The Ciresata porphyry is currently being drilled and has seen promising assays to date.
  • 2 Porphyry systems on the Rovina License in Romania – N.I. 43-101 Mineral Resource of 1.41 Moz of Gold and 175.0 Mlbs of Copper and an Inferred Mineral Resource of 1.70 M Moz of Gold and 849.0 Mlbs of Copper. Drilling in '08 is ongoing to expand these resources.
  • Additional Gold targets identified on the Rovina License in addition to the recent discovery of the Ciresata porphyry
  • Exploration office & experienced team based in Romania.

Carpathian Gold is well positioned for growth as well as acquisitions throughout the Carpathian Arc in neighbouring countries.

Investment Highlights

  • Drilling ongoing in 2008 on the Rovina License to expand the Mineral Resources
  • No legacy mining activity within the discovery area on the Rovina License deposit
  • European funds & institutions hold 27% interest


  • One of Europe's most important historic producers of precious metals, yet under-explored for bulk-mineable gold deposits.
  • The "Golden Quadrilateral" location of Carpathian Gold's Rovina license has produced over 55 million ounces of gold.
  • Stable government and member of European Union as of January 2,2007
Last changed at 02-Jun-2012 12:46PM by renaissance

Management & Directors

  • Managemenrt

    & Directors

    Mr. Peter Lehner – Chairman, Director

    Mr. Lehner is a businessman based in Switzerland and up to November 2002 was the Managing Director of Addax and Oryx Advisory Services and a director of AXMIN, a gold exploration company with an African focus. Mr. Lehner has gained an extensive knowledge in structuring and implementing financings across a range of sectors. In the past he has taken management positions in both large banking institutions and international companies active in commodity trading and shipping.

    Mr. Dino Titaro – Director, President and Chief Executive Officer (CEO)

    Mr. Titaro P. Geo., is a geologist based in Canada and has extensive experience in the mining and exploration sector. Since 1989, Mr. Titaro was President and CEO of A.C.A. Howe International, a geological and mining consulting firm that has worked on projects throughout the world. Currently, Mr. Titaro is a director of Yamana Gold has been a director and officer of several public-traded companies in the mining, industrial and health care technology fields.

    Mr. Patrick J. Mars – Director

    Mr. Mars is a Chartered Financial Analyst based in Canada. Mr. Mars is an independent consultant specializing in mine financing and analysis and benefits from over 30 years of experience in the Canadian investment industry. From 1971 to 1994 Mr. Mars was President, CEO, and a director of Alfred Bunting and Co. Ltd./Bunting Warburg Inc., a Canadian investment dealer and stockbroker. From 1995 to 2001, he was Chairman and a Director of First Marathon Securities (UK) Ltd/NBC Financial (UK) Ltd. Presently, Mr. Mars is a director of Yamana Gold and is Chairman/Director of SAGE GOLD. He has also been Chairman,CEO, or Director for several public-traded mining companies.

    Mr. John W. Hick – Director

    Mr. Hick is a corporate director and President & CEO of his own consulting firm, John W. W. Hick Consultants Inc. He is the Chairman of the Board of Silver Eagle Mines Inc. and held a number of senior management positions with several mining companies, including TVX, Defiance Mining, and most recently Rio Narcea Gold Mines Ltd. where he was the Chief Executive Officer.

    Mr. Guy Charette – Director

    Mr. Charette is a Corporate Finance and Securities Lawyer based in Canada. Mr. Charette has over 20 years experience in the business structuring and financing of domestic and international mining and exploration projects. He has acted as Chairman, CEO, and Director for several public-traded mining companies. From 1993 to 2000, Mr. Charette was CEO of Bay Merchant Group. He is co-founder of Charette-Nantel Attorneys LLP, a corporate finance law firm located in Montreal, Quebec, Canada.

    Mr. Kevin Flaherty – Director

    Mr. Flaherty, MBA, has director-level experience with successful public-traded Canadian mining/exploration companies. Mr. Flaherty is based in Canada and presently is President and CFO of Celtic Minerals.

    Mr. Daniel B.J. Kivari – Chief Operating Officer
    Mr. Kivari, P. Eng., is a senior mining executive with a degree in Metallurgical Engineering and over 37 years of international experience in all aspects of mine operations, engineering, construction and development. Most recently he was Regional General Manger for Western Canada and Nunavut for Agnico Eagle Mines Ltd. and prior to that position, Vice President of Operations for Yamana Gold Inc. Mr. Kivari has also held senior engineering positions with the consulting firms of Kellogg Brown & Root/Colt Engineering and SNC-Lavalin. He has worked extensively throughout Latin America, Canada, Australia and the USA.

    Mr. Randall K. Ruff – Executive Vice President, Exploration

    Mr. Ruff is a geologist with a BSc in geology and MSc in geochemistry of ore deposits. He is presently based in Romania and has over 10 years experience in exploration in the Western U.S., East and West Africa, and Central Europe. Mr. Ruff has been acting as the Exploration Manager for Carpathian Gold in Hungary and Romania since 1999. He was previously with SAMAX Gold where as a project geologist he oversaw the fast-track discovery-to-pre-feasibility advancement of the Kukuluma and Matandani gold deposits at Geita, Tanzania.

    Linda Prager - CFO and Secretary
    Ms. Prager is a CA who has worked for Carpathian as its controller since Incorporation. She has over 10 years accounting and financial experience with a number of private companies and has been involved in the start up of several public companies.

    Mr. Alexandru Nicolici – Managing Director SAMAX Romania S.R.L.

    Mr. Nicolici is a Geologist and co-founder of SAMAX Romania SRL, and benefits from 20 years experience in Romania as a geologist and manager. He is based in Romania and has previously held the position of CEO of CUART SA, the regional state-owned exploration company in Romania. In addition, previously Mr. Nicolici has acted as Exploration Manager for SAMAX Gold Inc. in Congo, Africa

Broker Fact Sheet

  • CPN Broker Fact Sheet
    Thu Mar 29, 2019
    Fact sheet details
Carpathian Gold
590 M F/D - March 26, 2012
Metals & Minerals
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