Bidding War Ramps Up For Cardinal Resources
Cardinal Resources – (ASX: CDV, Share Price: $0.93, Market Cap: $489m, coverage initiated @ $0.29 – – current gain of 221%)
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Cardinal Resources Limited
Cardinal Resources Limited (ASX/TSX: CDV) 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 Proved and Probable Ore Reserve of 5.1 Moz and is now advancing the feasibility study.
Exploration programmes are also continuing at the Company’s Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
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News
China’s Shandong Gold Swoops In On Cardinal Resources
CDV’s board has been exploring a range of potential transactions to maximise value for shareholders and they consider the Shandong Gold offer to be the best option for shareholders. We will watch developments closely to see if a rival bidder could emerge.
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Nordgold Makes Bid For Cardinal Resources
Nord Gold SE acquires a 19.9% stake in CDV and also lodges a non‐binding indicative and conditional takeover proposal for CDV, priced at $0.45775 per share.
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Cardinal Resources A Step Closer On Namdini Gold Project Finance
With the recent release during late 2019 of what was a robust Feasibility Study for the Namdini Project, CDV’s focus is firmly on the successful conclusion of funding negotiations.
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Cardinal Resources Ahead Of Schedule
CDV has performed solidly since our coverage initiation back in June 2016, being driven by ongoing and highly successful exploration drilling programs at its flagship Namdini project in Ghana, which in turn has led to the establishment of a multi-million-ounce gold resource base.
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