Chief Financial Officer Appointed
Mr Erik Palmbachs is a qualified finance professional with over 30 years' experience most of which has been in the mineral resources industry. He has a Bachelor of Business (CPA), Masters in Science (Mineral Economics), is a graduate from the Institute of Corporate Governance and the Institute of Company Directors.
Mr Palmbachs has held senior executive roles for over 20 years and has worked in the gold, copper and iron ore industries, for Australian and African resource companies. His professional career includes over 10 years with St Barbara Mines Limited (ASX:SBM) as CFO and four years as CFO/Company Secretary of successful Western Australia gold miner Catalpa Resources Limited.
During his time as CFO/Company Secretary of Catalpa, Mr Palmbachs was involved with the construction and operation of the Edna May gold mine located in West Australia, the acquisition of 30% of the Cracow Gold mine and the eventual merger into Evolution Mining Limited (ASX:EVN).
Mr Palmbachs has vast experience and a good understanding of the start-up and development environment, project funding and equity raising.
Archie Koimstidis, Managing Director of Cardinal, said:
"We are excited to have Erik Palmbachs join Cardinal's team, it adds yet another highly capable senior executive with international experience to our team. He has considerable qualifications and experience to make a significant contribution to our company.
"Cardinal welcomes Mr Palmbachs to the role of Chief Financial Officer and we look forward to his contribution."
About Cardinal Resources Ltd
The Company is focused on the development of the Namdini Project with a gold Ore Reserve of 5.1Moz (0.4 Moz Proved and 4.7 Moz Probable) and a soon to be completed Feasibility Study.
Exploration programmes are also underway at the Company's Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.
Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of 3 April 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.
St Barbara Limited
Evolution Mining Limited
Cardinal Resources Ltd