Quarterly Activities and Cashflow Report
Quarterly Activities and Cashflow Report
Perth, April 30, 2020 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (FRA:C3L) (OTCMKTS:CRDNF) (TSE:CDV) a Ghana gold focused exploration and development company, is pleased to present its Quarterly activities report for the period ended 31 March 2020.

HIGHLIGHTS

- On January 29, 2020 the Company announced that together with its appointed advisers, Cutfield Freeman & Co, have received a number of term sheets from banks and financiers regarding Project Financing for its 5.1Moz Namdini Gold Project in Ghana, West Africa.

- On February 27, 2020 the Company announced that it has been granted important Project Water Extraction Permits by the Ghanaian Water Resources Commission.

- On March 11, 2020 the Company announced that it has received the approval for the Resettlement Action Plan for its Namdini Gold Project in Ghana, from the Minerals Commission of Ghana.

- On March 26, 2020 the Company announced that it has received the approval for the expansion of the current Mining Licence from 19km2 to 63km2 for a renewable term of 15 years, commencing in 2020, for its Namdini Gold Project in Ghana, West Africa.

- On March 30, 2020 the Company updated its shareholders and provided commentary as to how the Company is managing the current COVID-19 pandemic.

To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/TX136L9Q


About Cardinal Resources Ltd

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold 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 gold Ore Reserve of 5.1Moz (0.4 Moz Proved and 4.7 Moz Probable) and a soon to be completed Feasibility Study.

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

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 3 April 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.

 


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



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