Gold, Metals, Mining - Cardinal Resources CDV comment - Gold, Metals, Mining - InvestorVillage
Gold, Metals, Mining
This is a semi-private group. You are free to browse messages, but you must be a member of this group to post messages. Join This Group

Group: Gold, Metals, Mining   /  Message Board  /  Read Message

 
 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  363 of 369  at  6/17/2020 6:18:18 AM  by

b9man


Cardinal Resources CDV comment

 

TORONTO, June 16, 2020 (GLOBE NEWSWIRE) -- Cardinal Resources Limited (ASX / TSX : CDV) (“Cardinal” or “the Company”) refers to its announcements of 30 March and 4 May 2020 in respect of the continuing strategic process with banks, financiers and other parties which continue to show interest in bringing the Namdini Project into production with a view to maximising economic outcomes (“Strategic Process”).

The Company also notes the recent local Ghanaian media article with respect to potential strategic alternatives.

The Board of Cardinal wishes to advise that as part of the Strategic Process it remains in discussions with parties regarding a potential strategic transaction. Whilst discussions in relation to any potential transaction remain ongoing, at this time no agreement has been entered into in relation to any transaction and there can be no guarantee that any agreement will be entered into.

Accordingly, given that there is no certainty that any strategic transaction will proceed, Cardinal advises that shareholders should be cautious in trading on media speculation. The Company will update the market if and when any formal agreement is entered into in relation to a potential strategic transaction.

Shareholders do not need to take any action in relation to the Strategic Process.

ABOUT CARDINAL

Cardinal Resources Limited (ASX/TSX: CDV) is a West African gold‐focused exploration and development Company that holds interests in tenements within Ghana, West Africa.

The Company is focused on the development of the Namdini Gold Project and released its Feasibility Study on 28 October 2019.

Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of April 3, 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.

*The Namdini Project has a published gold Ore Reserve of 5.1 Moz (138.6 Mt @ 1.13 g/t Au; 0.5 g/t cut-off), inclusive of 0.4 Moz Proved (7.4 Mt @ 1.31 g/t Au; 0.5 g/t cut-off) and 4.7 Moz Probable (131.2 Mt @ 1.12 g/t Au; 0.5 g/t cut-off).

Authorised for release by the Chairman of Cardinal Resources Limited.

For further information contact:

Archie KoimtsidisAlec Rowlands
CEO / MDIR / Corp Dev
Cardinal Resources LimitedCardinal Resources Limited
P: +61 8 6558 0573P: +1 647 256 1922
Cannings Purple
Peta Baldwin or Warrick Hazeldine
E: pbaldwin@canningspurple.com.au
E: whazeldine@canningspurple.com.au


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 0     Views: 37
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board






Financial Market Data provided by
.


Loading...