Van Eck held an equity position of 7.42% and has now increased its holding to 8.49% buying on market since Cardinal's "Interim Metallurgical Update" was announced on the ASX platform.
Archie Koimtsidis, CEO/MD of Cardinal, said:
"We are very pleased with Van Eck's continued support in Cardinal as a key institutional investor and a substantial shareholder of the Company.
"In particular, we would also like to thank their Technical Team and most Senior Management.
"Their shareholding supports the tremendous potential of our Namdini Project."
About Cardinal Resources Ltd
The Company’s Namdini Project has a declared 4Moz Maiden Gold Resource which is open. The Company is focused on the development of the Namdini project through a resource expansion drilling programme, prefeasibility studies, detailed metallurgical test work and process flowsheet studies. Exploration activity is also underway on the Company’s Bolgatanga and Subranum Projects.
Cardinal Resources Ltd