CDV - Cardinal Resources - Aussie Stock Forums

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  1. #1

    Post CDV - Cardinal Resources

    The focus for Ridge Resources is a single project, with the right to earn up to a 70% interest in the Mount Alexander Project which is prospective for metasomatic uranium deposits and base-metal Iron oxide copper gold (IOCG) deposits.

    The Mount Alexander Project is located approximately 20 kilometres southeast of Nanutarra and 120 kilometres to the south of Onslow, in the northwest of Western Australia.

    The company will also focus on potential acquisitions that are drill-ready exploration projects through to advanced projects with existing resources and upside potential.


  2. #2
    Make the drill work for YOU springhill's Avatar
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    Jun 2007
    Mental Institution

    Default Re: RID - Ridge Resources

    Yowza! How tight is this capital structure? 16.7m shares on issue, holding $2m in the bank.
    RID has earnt a 60% interest in the Mt Alexander Project through the expenditure of $1 million on the Project, and a further 10% interest through additional expenditure of $800,000.
    With director fees this will clean them out of cash, lead to a raising and issue of more shares.
    Not keen on the idea of Uranium in WA, given the appeals against Toro.

    Off the watchlist until there is a change in the mood for uranium production in WA.
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3

    Default Re: CDV - Cardinal Resources

    On January 8, 2013, Ridge Resources Ltd (RID) changed its name to Cardinal Resources Limited (CDV).

  4. #4

    Thumbs up Re: CDV - Cardinal Resources

    Watching this closely...

    Low MC and drill results on the way.....

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