Cardinal Resources Limited. CRDNF

Seeking Alpha on CDV

[lumpy13]

https://seekingalpha.com/article/4283049-cardinal-resources-still-oblivious-golds-rapid-ascent

It is strange that CDV isn't moving like other similar African juniors.  ORE, for example, has moved quite nicely in recent months.  One reason for CDV's stagnancy could also be the high capex required to put the mine into production and the potential dilution.  But, on the positive side, it is in Ghana, not Burkina Faso, and a potential acquisition play for a mid-sized miner.  I have increased my position in recent weeks.

[mercedesman]

the SA article is a good and balanced summary of where we sit IMO  : some observations ... - the end of Q3 is a mere 7 weeks away  - as to it being a takeover target. Mid tier producers operating in west Africa have a lot of properties to choose from. Eg barrick/ acacia wanting to jettison properties ( eg Massawa in Ghana) resulting from Rangold takeover. Other properties at the ready ,

[kkkrrr]

good run at the ASX today .. 48,5 cent ..good volume ...  maybe a leak of information? ...there are rumours a 50/50 JV with Goldfields is in the works...  this would be phantastic for us shareholders ... much higher valuation possible

[lumpy13]

CDV has been quiet for too long while similar pre-production African Juniors have been moving upwards.  A JV with Goldfields would be fantastic as the high CapEx is a key reason for holding down the stock price.

[kkkrrr]

appr. 400 million USD is no high capex for such an large project with possible 20 years minelife ...  there is a lot of gold outside the reserve

[lumpy13]

On the one hand, I agree with you, but for a company like CDV, with a market cap of around US$100m, raising the CapEx financing will require dilution. If that''s not holding down the price, what is?  You're in ORE as well, and it's price appreciation has been better than that of CDV, in spite of being in Burkina and being a smaller project (but also requiring less dilution to

[kkkrrr]

i bet there will be a takeover after the Final FS or a 50/50 JV with Goldcorp/Newmont ... 

[lumpy13]

That could be a logical outcome. Things could move quickly as the Aug 19 presentation notes target completion of the FS by 9/30.   This is stil a very cheap stock.