Cardinal Resources

Primary ticker: ASX:CDV
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Namdini

Live financials

Cardinal Resources Limited (ASX/TSX: CDV) is a West African gold‐focused exploration and development Company which holds interests in tenements within Ghana, West Africa. The Company is focused on the development of the Namdini Project with a recently announced Maiden Probable Reserve of 4.76Moz and is now advancing the feasibility studies supported by additional multi-disciplinary engineering activities. Exploration programmes are also underway at the Company’s Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects. Feasibility Study for the Namdini Project due Q3 2019.

Management Profile

Archie Koimtsidis – CEO/MD

Mr Archie Koimtsidis has for the last 20 years been involved in all facets of gold exploration, discovery, production and refining in West Africa and South America. Prior to joining Cardinal Resources, Archie was the Deputy Country Manager of Ghana for PMI Gold Limited. During this time Archie was responsible for all field operational matters including coordination of exploration, drilling programs and human resource management in Ghana. Archie has been instrumental in acquiring the Ghanaian projects on behalf of Cardinal Resources and has a unique knowledge and understanding of geopolitical and operational matters relating to resource projects in West Africa.

What is your rationale for attending 121 Mining Investment?

Personal opportunity to explain the Cardinal story.

What recent news would you like to highlight to investors attending?

• FS Due Q3 2019 Resource Upgrade
– Maiden Ore Reserve
– 4.76Moz Probable Mineral Reserve
• EIA scoping report submitted to EPA
• Metallurgy – currently 86% for Starter Pit and 84% for the Life of Mine with optimisation continuing
• EIA scoping report submitted to EPA, EIS due for submission shortly
• Paleoproterozoic Granite-Greenstone Belt
– Underexplored compared to Southern Ghana
• Well Established Local Infrastructure
• Excellent Community Relationships
• Open Savannah Grassland
• Mining License Granted for 15 years renewable

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Work completed to support the feasibility study DD, RC and Auger drilling planned for Cardinal’s regional tenements

6 Months:

12 Months:

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Haven’t yet defined the Namdini deposit parameters – 13 drills working 24/7.

In a sentence, what do you think makes your company such a compelling investment?

Large scale single open pit with conventional process flowsheet and prospective “district” scale landholding providing opportunity for further discoveries.