CARDINAL RESOURCES LIMITED N a m d ini G o l d P roj e c t - G h a n a
CARDINAL RESOURCES LIMITEDASX:CDV
INVESTMENT HIGHLIGHTSASX:CDV
Namdini gold deposit significant mineralised system of up to 300m in width and extending over 1km
Maiden 4 million ounce
Resource declared
Open at depth and along strike with resource expansion drilling in progress
Metallurgical testwork confirms high gold recoveries achievable with simple crush- grind-float- regrind- CIL circuit
Quality local infrastructure and strong community relationships provides foundation
for rapid development
Experienced Board and management team with proven track record in African gold mining industry
CARDINAL RESOURCES LIMITED 2 CORPORATE SNAPSHOTASX:CDV
Board of Directors and Senior Management | |
Kevin Tomlinson | Non-Executive Chairman Investment Banker, Geologist, ex - Chairman Medusa Mining, NED Orbis Gold, NED Centamin |
Archie Koimtsidis | Managing Director - CEO ex - Deputy Country Manager PMI Gold, Asanko Gold (TSX:AKG) |
Malik Easah | Executive Director ex - Public Relations Officer PMI Gold, Asanko Gold (TSX:AKG) |
Mark Connelly | Non-Executive Director ex - MD / CEO Papillon Resources, Adamus Resources, Exec Project Dev, Newmont |
Simon Jackson | Non-Executive Director ex - VP Corp Dev Red Back Mining, current MD / CEO Beadell Resources |
Bruce Lilford | Project Manager ex - Amec Foster Wheeler, Metallurgist |
Erik Palmbachs | Chief Financial Officer ex - First Quantum (TSX:FM), CFO St Barbara Mines Ltd Catalpa Resources Ltd (Evolution Mining Ltd) |
Capital Structure | ||
Current Share Price 1 | A$ | $0.50 |
Shares on Issue 2 | # | 304.0 million |
Listed Options on Issue 3 | # | 116.1 million |
Market Capitalisation | A$ | $152 million |
Enterprise Value | A$ | $134 million |
Cash 4 | A$ | ~$18 million |
Major Shareholders | |
Directors | 5.5% |
1832 Asset Management L.P Dynamic Fund Canada | 10.8% |
Van Eck Associates Corporation USA | 7.4% |
Precious Capital Global Mining and Metals Fund Switzerland | 4.9% |
Macquarie Bank Australia | 4.2% |
US Global USA | 3.9% |
Top 20 | ~72 % 1 |
Top 40 | ~81 % 1 |
1As at 20 March 2017
2The Company also has 50 Class A Performance Shares and 60 Class C Performance shares on issue. All series, if converted, will total 11 million ordinary shares if certain milestones are achieved. Details of conversion milestones are provided in Cardinal's Annual Report
3 Exercise price of $0.15, Expiry date 30 September 2019
4 As at 31 December2016
CARDINAL RESOURCES LIMITED 3 NAMDINI - MAIDEN RESOURCE ESTIMATE - JORC Code 2012 ASX:CDVCut off grade (g/t Au) | Million Tonnes (mt) | Average Grade (g/t Au) | Million Ounces (Moz Au) |
Indicated & Inferred Resource | |||
0.3 | 123.0 | 1.1 | 4.2 |
0.4 | 110.0 | 1.2 | 4.1 |
0.5 | 96.1 | 1.3 | 3.9 |
0.6 | 82.3 | 1.4 | 3.6 |
Indicated Resource | |||
0.3 | 8.28 | 1.0 | 0.27 |
0.4 | 7.20 | 1.1 | 0.25 |
0.5 | 6.22 | 1.2 | 0.24 |
0.6 | 5.35 | 1.3 | 0.22 |
Inferred Resource | |||
0.3 | 114.7 | 1.1 | 3.9 |
0.4 | 102.8 | 1.2 | 3.8 |
0.5 | 89.9 | 1.3 | 3.6 |
0.6 | 77.0 | 1.4 | 3.4 |
Cardinal Resources Limited published this content on 21 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 March 2017 00:34:12 UTC.
Original documenthttp://cardinalresources.com.au/uploads/documents/2017/21_Mar_2017_Investor_Update_-_Mar_2017.pdf
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