Dynamic Fund held an equity position of 9.07% and has now increased its holding to 10.85% buying on market since Cardinal's recent "Interim Metallurgical Update" was announced on the ASX platform.
Archie Koimtsidis, CEO/MD of Cardinal, said:
"We are very pleased with Dynamic Funds 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
Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold-focused exploration and development Company which holds interests in tenements within Ghana, West Africa.
The Company’s Namdini Project has a declared Indicated Mineral Resource of 120 Mt @ 1.1 g/t for 4.3 Moz Au and an Inferred Mineral Resource of 84 Mt @ 1.2 g/t for 3.1 Moz (refer to Cardinal “Technical Report on Namdini” dated 11 September 2017). The Company is focused on the development of the Namdini Project through a resource expansion drilling programme and continues to advance the PEA / Scoping Study which is now due for release in Q1 2018. In parallel, a pre-feasibility study is progressing supported by additional multi-disciplinary engineering activities. Exploration activity is also underway on its large portfolio of regional exploration Licenses.
For more information on the Company, Investors should review the Company’s filings that are available at http://www.sedar.com
Cardinal Resources Limited
P: + 61-418-769-579
Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) Half Yearly Report and Management's Discussion and Analysis
Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) Investor Presentation - Fast Tracking Development Exploration in Northeast Ghana