viewCardinal Resources Ltd

Cardinal Resources Ltd receives initial substantial holder, global mining and metals fund


Cardinal Resources Ltd (ASX:CDV) has received a notice of initial substantial holder, from the Precious Capital Global Mining and Metals Fund, which now holds 5.52%.

Cardinal is well-funded having raised $21.75 million in a placement.

The company recently completed its Phase 1 framework drilling program at the emerging, world class Namdini gold deposit in Ghana.

Drilling at Namdini has identified a mineralised gold zone with a strike length of 1,000 metres, widths of 200-300 metres and depths of over 350 metres.

Every hole drilled at Namdini since discovery has intersected wide zones of gold mineralisation including:

- 67 metres at 3.1 g/t from 3 metres;
- 51 metres at 3.58 g/t from 85 metres; and
- 45 metres at 7.73 g/t from 168 metres.

Cardinal remains on track to deliver a maiden JORC Exploration Target this quarter.

The share price is up 375% over the past year, currently trading at $0.475.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Cardinal Resources Ltd

Price: 0.41 AUD

Market: ASX
Market Cap: $205.01 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Cardinal Resources Ltd named herein, including the promotion by the Company of Cardinal Resources Ltd in any Content on the Site, the Company...



Cardinal Resources recognised for Namdini gold discovery with Thayer...

Cardinal Resources Ltd (ASX:CDV) managing director & CEO Archie Koimtsidis speaks to Proactive Investors about winning the 2019 Thayer Lindsley award from the Prospectors and Developers Association of Canada (PDAC). The award, previously won by Barrick Gold (TSE:ABX) and Ivanhoe...

on 03/20/2019

2 min read