Gold Fields became a substantial shareholder of Cardinal on 3 April 2017 with an ordinary shareholding of 6.4%.
Further, the Company advises that Gold Fields is, or is entitled to be, the registered holder of 24,887,425 listed options in Cardinal (ASX.CDVOA), which has also been acquired through on-market purchases. On a fully diluted basis Gold Fields would hold 10.35%.
Archie Koimtsidis, MD/CEO of Cardinal, said:
"We acknowledge Gold Fields as a substantial shareholder of the Company. Their investment confirms the tremendous potential of our Ghanaian Projects."
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.
Gold Fields Limited
Cardinal Resources Ltd