1832 AM LP (Dynamic Funds) Increases Holding in Cardinal
Perth, Sep 7, 2016 AEST (ABN Newswire) - Cardinal Resources Ltd (
ASX:CDV) ("Cardinal" "the Company") is pleased to announce that 1832 Asset Management LP and the Dynamic Funds ("1832 AM LP (Dynamic Funds)") which are associated entities of the Bank of Nova Scotia, headquartered in Canada, have increased their shareholding in Cardinal.
1832 AM LP (Dynamic Funds) become a substantial shareholder of Cardinal on 1 March 2016 with an equity position of 5.61%.
Since March 2016 1832 AM LP (Dynamic Funds) has increased it's shareholding via on-market purchases to 9.07% as at 31 August 2016.
Archie Koimtsidis, Managing Director of Cardinal, said:
"We are very pleased that key institutional investor, 1832 AM LP (Dynamic Funds), has increased it's shareholding in the Company.
"1832 AM LP (Dynamic Funds) shareholding supports the tremendous potential of our Ghanaian Projects."
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.
| ||
|
