For thousands of other reports visit RSC's Mineral Intellingence Map
Cardinal Resources Ltd.
Summary
| Project: | Namdini | |
|---|---|---|
| Deposit: | Namdini | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 9/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 18-9-2018: Cardinal Resources Ltd. announces a Pre-Feasibility Study report for its Namdini deposit at the Namdini project. PFS results incl. post-tax NPV of US $586M (5%), IRR of 38%, 14yr LOM at the project. Cardinal Resources Limited (ASX / TSX: CDV) ( | |
| Resources: | (Reserve, Prob.): 129.6Mt @ 1.14g/t Au for 4.76Moz Au contained | |
| CP/QP: | [Resources]: Nicolas Johnson (MPR Geological Consultants Pty Ltd.) | |
| ABSTRACT: | Cardinal Resources Limited (ASX / TSX: CDV) (“Cardinal” or “the Company”) is pleased to announce the results of its Preliminary Feasibility Study (“PFS”) for the Namdini Gold Project (“Namdini”) in Ghana, West Africa. Comments from Archie Koimtsidis, Managing Director and Chief Executive Officer: “We now have a compelling Business Case to move into the Definitive Feasibility Study (DFS) phase for the 9.5 Mtpa throughput processing facility based upon the optimum Return On Capital Employed (ROCE). The Feasibility Study (FS) is fully funded and will form the basis for the development of our Namdini Project in Ghana with completion anticipated in Q3 2019. The PFS study confirms the Namdini Project as one of Ghana’s and Africa’s most promising undeveloped, large gold assets. The financial modelling of the project shows it to be technically sound and financially viable and could generate US$ 1.4 billion free cash flow (pre-tax) utilising the 9.5 Mtpa throughput model.” The term ‘Ore Reserve’ is synonymous with the term ‘Mineral Reserve’ as used by Canadian National Instrument 43-101 ‘Standards of Disclosure for Mineral Projects’ (NI 43-101, 2014) and conforms with CIM (2014). The JORC Code (2012) is defined as an ‘acceptable foreign code’ under NI 43-101. The PFS referred to in this announcement is based upon a Probable Ore Reserve derived from Indicated Mineral Resources. No Inferred Mineral Resources have been included in the estimation of Ore Reserves. The Company advises that the Probable Ore Reserve provides 100% of the total tonnage and 100% of the total gold metal. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report