Cardinal Resources Limited. CRDNF

RE:Cardinal Resources Ltd. with a A$0.90/sh target price

[lumpy13]

Thanks for passing on this news.

I agree, Novagold, has tossed out a low ball offer.  If it sticks, it could be an opportunity to buy the company cheap (but unlikely as it equates to around US$0.31not much more than today's price).  Equally likely, it's to elicit offers from others, providing Nova an attractive exit for its shares.

Interesting that CDV issued a press release but doesn't have it on their website (one complaint I have with Aussie miners, the amount of info they disclose is signifcantly less than in the US and Canada).  

The numbers presented above seem to be from CDV's 3/20 presentation and their base case gold price is $1,350.  So 33% IRR is much higher at today's gold price.

Another positive that the project has is its location in Ghana.  Doesn't carry the baggage of the mining companies in BF.

Have you seen anything further about the financing package?  Big question is the necessary dilution, when rasing equity or convertible debt.  

Timing seems optimistic - in today's world - that final project approvals and a construction financing package could be put in place by 2Q20.

For those mining companies with strong cash positions, this is a great time to make acquisitions at a cheap price (altho it'd also take cajones).  Inversely, those juniors that are cash poor and need to keep developing their projects are going to probably dilute the heck out of their exisiting shareholders.