Cardinal Resources Publishes FS for Namdini

Cardinal Resources (ASX:CDV,TSX:CDV) has announced the results of the feasibility study for the Namdini gold project in Ghana, West Africa. The FSconfirms Namdini as a gold project with attractive economic returns.

As quoted in the press release:

“With over 1 million ounces slated for production in the first three years; 421,000 oz in Year 1 alone, and an average annual gold production of 287,000 oz over a 15‐year mine life, Namdini ranks amongst the world’s largest known, financially robust, undeveloped gold projects,” Archie Koimtsidis, managing director and chief executive officer, said.

“Namdini has a 5.1 million ounce ore reserve that is projected to generate US$1.46 billion in undiscounted, pre‐tax free cashflow over 15 years including US$324 million in undiscounted, pre‐tax free cashflow during its 1st year of full production, based on a gold price of US$1,350, which is significantly below the current spot gold price.”

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