Inactive Instrument

Cardinal Resources Limited

Equities

CDV

AU000000CDV9

Cardinal Resources Ltd Quarterly Financial Report and MD&A

May 14, 2019 at 03:15 am EDT

Perth, Australia (ABN Newswire) - The Directors are pleased to submit their report on Cardinal Resources Limited (ASX:CDV) (TSE:CDV) for the three months and nine months ended 31 March 2019.

HIGHLIGHTS DURING THE QUARTER

- On March 27, 2019 the Company announced high grade intercepts on the Ndongo East Discovery located within the Ndongo License area approximately 24km north of the Namdini deposit. Additional shallow gold intersections to the exploration drill results previously announced on November 28, 2018, were located at the Ndongo East Discovery.

- On March 15, 2019 the Company commenced with the feasibility study of the high-voltage power supply for the Namdini Gold Project.

- Work continues on the Enterprise Optimisation study on the Namdini Gold Project with Whittle Consulting Pty Ltd. This has involved rigorous analytical and computational processes at a detailed spatial and technical level to increase the value of the project. The optimised results of which will be fed into the upcoming FS on the Namdini Gold Project.

- Golder Associates continued this quarter with the geochemical assessment of the Namdini Gold Project and will provide a management support programme for any potential Acid and Metalliferous Drainage (AMD) associated with the development of the deposit into operation and eventual closure. This report will feed into the upcoming FS on the Namdini Gold Project.

- On February 18, 2019 the Company arranged a site visit to Namdini with its consultants to finalise geotechnical testing for the Namdini Gold Project process and infrastructure facilities including the tailings storage facility (TSF), access roads and process plant mill positions. A reconnaissance was also completed to ascertain Ghanaian construction capabilities for its process plant and infrastructure.

- On February 22, 2019 the Company commenced with its FS metallurgical testwork programme to ensure remaining process design criteria assumptions are supported by testwork data.

- On January 24, 2019 the Company commenced with its Feasibility Study (FS). This study is being undertaken by the same consultants that completed the Pre-Feasibility Study (PFS) on behalf of the Company lead by Lycopodium Ltd.

To view the full report, please visit:
http://abnnewswire.net/lnk/72Q418M2

About Cardinal Resources Ltd:

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) 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 Project with a Maiden Ore Reserve of 4.76Moz and is now advancing the feasibility study.

Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.

Source:

Cardinal Resources Ltd

Contact:

Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61-8-6558-0573

Alec Rowlands
IR / Corp Dev
Cardinal Resources Limited
P: +1-647-256-1922

Andrew Rowell
Cannings Purple
E: arowell@canningspurple.com.au
P: +61-400-466-226

Peta Baldwin
Cannings Purple
E: pbaldwin@canningspurple.com.au
P: +61-455-081-008

Latest news about Cardinal Resources Limited

Cardinal Namdini Mining Limited announced that it expects to receive $0.5 million in funding from Cardinal Resources Limited	22-08-24	CI
Cardinal Resources Limited Reports Earnings Results for the Second Quarter Ended December 31, 2020	21-02-11	CI
Cardinal Resources Limited Announces Board Restructure	21-02-01	CI
Cardinal Resources Limited(ASX:CDV) dropped from S&P/ASX All Ordinaries Index	21-01-20	CI
Shandong Gold Mining (Hong Kong) Co., Limited completed the acquisition of Cardinal Resources Limited from a group of shareholders.	21-01-18	CI
Dongshan Investments Limited cancelled the acquisition of Cardinal Resources Limited.	20-12-29	CI
Engineers & Planners Company Limited cancelled the acquisition of Cardinal Resources Limited from Nord Gold SE, Shandong Gold Mining (Hong Kong) Co., Limited, Macquarie Group Limited, Samson Rock Capital LLP and others.	20-12-29	CI
S&P/ASX 200 : Australian Shares Cheer Shortened Holiday Session; CFOAM Soars 50% on New US Contract	20-12-23	MT
Dongshan Investments Limited made an offer to acquire Cardinal Resources Limited for approximately AUD 650 million.	20-12-23	CI
Nordgold Closes Offer for Cardinal	20-12-23	CI
Nord Gold SE cancelled the acquisition of remaining 81.3% stake in Cardinal Resources Limited from MM Asset Management Inc., The Bank of Nova Scotia and other shareholders.	20-12-22	CI
Resolute to sell Ghana gold mine to China's Chifeng Jilong	20-12-15	RE
Nordgold Increases Offer Price in Relation to its Offer for Cardinal Resources	20-12-14	CI
Nordgold Extends the Offer Period in Relation to its Unconditional All-Cash Offer for Cardinal Resources	20-12-06	CI
Nordgold Extends the Offer Period in Relation to its Unconditional All-Cash Offer for Cardinal Resources	20-11-26	CI
Cardinal Resources : Nord Gold Extends Takeover Bid for Cardinal Resources Again	20-11-25	MT
Engineers & Planners Company Limited made an offer to acquire Cardinal Resources Limited from Nord Gold SE, Shandong Gold Mining (Hong Kong) Co., Limited, Macquarie Group Limited, Samson Rock Capital LLP and others for approximately AUD 560 million.	20-11-23	CI
Nord Gold Extends the Offer Period in Relation to Its Offer for Cardinal Resources Limited	20-11-19	CI
Takeovers Panel Rejects A Request of Cardinal Resources to Improve Separate Takeover Offers	20-11-17	CI
Cardinal Resources Limited Reports Earnings Results for the First Quarter Ended September 30, 2020	20-11-13	CI
Nordgold Extends the Offer Period in Relation to its Unconditional All-Cash Offer for Cardinal Resources Limited	20-11-12	CI
Nordgold Extends the Offer Period to Acquire Cardinal Resources	20-11-12	CI
Nordgold Extends its Unconditional All-Cash Offer for Cardinal Resources	20-10-29	CI
Cardinal Resources Announces Annual General Meeting of Shareholders	20-10-27	CI
Nordgold Extends its Unconditional All-Cash Offer for Cardinal Resources	20-10-26	CI

Chart Cardinal Resources Limited

Duration

Period

More charts

Company Profile

Cardinal Resources Limited is a gold exploration and development company. The Company is engaged in exploration of minerals in Ghana. The Company, through its subsidiary, Cardinal Resources Ghana Limited, holds approximately five tenements prospective for gold mineralization in Ghana in two northeast-southwest trending Paleo-Proterozoic granite-greenstone belts, the Bolgatanga and Namdini Projects located within the Nangodi and Bole-Bolgatanga Greenstone Belts in northeast Ghana, and the Subranum Project located within the Sefwi Greenstone Belt in southwest Ghana. The Namdini tenement is located approximately 12 kilometers southeast from its Ndongo East Prospect and approximately six kilometers southeast of the producing Shaanxi Gold Mine. The Bolgatanga Project area and the Subranum Project comprises approximately 734 square kilometers of granted tenements. It owns and operates two drill rigs.

Sector

More about the company