Cardinal Resources (ASX:CDV) - CEO, Archie Koimtsidis
CEO, Archie Koimtsidis
Sourced: 121 Mining
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • West African gold explorer Cardinal Resources’ (CDV) Namdini Gold Project has received a development greenlight from the Ghana Government
  • The approval comes after the Ghanaian Environmental Protection Agency (EPA) approved Cardinal’s Environmental Impact Statement (EIS)
  • This means Cardinal now has a permit to start developing Namdini
  • While it looks to begin development, the company says there have been no confirmed cases of COVID-19 at any of its sites or offices
  • However, like many other miners, it does have a response in place to ensure the protection of all staff and contractors
  • Cardinal Resources is up 8.45 per cent on the market this morning and is currently selling shares for 38.5 cents each

West African gold explorer Cardinal Resources’ (CDV) Namdini Gold Project has received a development greenlight from the Ghana Government.

The approval comes after the Ghanaian Environmental Protection Agency (EPA) has approved its Environmental Impact Statement (EIS), which means Cardinal now has a permit to start developing Namdini.

In a feasibility study, published to market last October, Cardinal valued the project outcomes at Namdini at US$1350 per ounce. However, the explorer also showed a gold price sensitivities from US$1150 per ounce and up to US$1550 per ounce.

Namdini Project Feasibility Study Outcomes. Sourced from Cardinal.

COVID-19

While it looks to begin development, Cardinal says there have been no confirmed cases of COVID-19 at any of its sites or offices. However, the company does have a response in place to ensure the protection of all staff and contractors.

“The safety of our people, their families and the communities in which we operate are, and will always be Cardinal’s first priority. The challenges of COVID‐19 are constantly changing and we remain flexible and united in our responses to maintain staff safety,” the company said.

All international travel into Ghana remains suspended, while on the ground, workers have been reduced to essential staff only.

Although fieldwork has been scaled back, Cardinal says it has been actively working on adding value to Namdini.

Cardinal Resources is up 8.45 per cent on the market this morning and is currently selling shares for 38.5 cents each at 11:23 am AEST.

cdv by the numbers
More From The Market Online
The Market Online Video

Northstone Resources: Record-grade drilling intercept raises the stakes ahead of maiden JORC resource

Northstone Resources (ASX: NRL) has hit 36m at 5.85g/t AuEq at its Tlamino project in Serbia, significantly exceedin…
The Market Online Video

Capital Limited Expands in Australia as Revenue Growth Drives Upgraded Guidance

Capital Limited (LSE:CAPD) is strengthening its position in the global mining services sector, combining expansion into Australia with larger drilling contracts and growing
The Market Online Video

OR3 delivers maiden 153,000oz gold resource at Coolgardie

Ore Resources (ASX: OR3) has delivered its first mineral resource estimate at the Coolgardie Gold Project in Western Australia, marking a key
The Market Online Video

Diablo Resources: Copper and Gold add new potential at Utah Tungsten Prospect

Diablo Resources (ASX: DBO) is uncovering a broader mineralisation story at its Cupric prospect in Utah, where recent sampling has identified copper