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CDV - Cardinal Resources

System

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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.

www.ridgeresources.com.au
 

springhill

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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.
 

System

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On January 8, 2013, Ridge Resources Ltd (RID) changed its name to Cardinal Resources Limited (CDV).
 
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Another gold stock having it's day in the sun, also has a few bucks left in the bank ($18M) to continue exploration but is looking at finance options to become a producer ( general thoughts as I have not researched in any great detail)

Chart....looking healthy since July and on a steady rise. No news on Friday but 9% gain got flagged on my scan.Probably a few stale investors getting out as well. One for the watch list and will be looking at BO .44/.45 area

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It is interesting to come back to previous posts and see what has happened.

New scan criteria and CDV has raised it's head again.....back in August 2019 (previous post) it had a BO and retraced then another BO in September 2019.

Since then it has been all down hill and bounced off $0.30 for support. The gold price is probably not doing it any favours (like a few of my other holdings) but I will watch for signs of retrace being confirmed before making a decision to enter in a trade.

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New scan criteria and CDV has raised it's head again.....back in August 2019 (previous post) it had a BO and retraced then another BO in September 2019.

Out of curiosity Trav … What Stock Scanner do you use/prefer?

And ps. I've had my fair share that resemble that chart as well:( :)
 
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@barney I use Amibroker mate.

Cheers for that. I'm old fashioned and have always used the eyeball method:cyclops: ... Time I modernised up a bit given some of my recent efforts:nailbiting:

Re CDV ...… Looks like the "Ghana" location might be hurting them … tough part of the world to get keen long term Investors?? …. Big resource though … over 5 million ounces yes??
 
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Hi barney,

If you don't mind me asking, how many charts do you eyeball a night?

Cheers, Rob

Hi Rob … That's an interesting question and I've never really considered it. (I like looking at Charts in general which I guess most traders do, even if I'm not looking to trade that particular stock)

To put a number on it, anywhere from a few to dozens depending on multiple factors:-

Time available

Whether I'm looking to take on any new positions (ie trading account balance etc)

What Stocks others are looking at … etc etc.

I've cut a few Stocks loose of late (all losers) so I think it might be time to update the "eye balling" to something a bit more modern!

Cheers.
 

rnr

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Hi Rob … That's an interesting question and I've never really considered it. (I like looking at Charts in general which I guess most traders do, even if I'm not looking to trade that particular stock)

To put a number on it, anywhere from a few to dozens depending on multiple factors:-

Time available

Whether I'm looking to take on any new positions (ie trading account balance etc)

What Stocks others are looking at … etc etc.

I've cut a few Stocks loose of late (all losers) so I think it might be time to update the "eye balling" to something a bit more modern!

Cheers.

Hi barney,
Many thanks for taking the time to respond...and given your response, I get why you think it might be time to update to something a bit more modern.
All the best with your modernisation resolve.
Cheers, Rob
 
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In today @ $0.30 so will be interesting to see how we go.

Hope recent low of $0.277 holds and looking to rebound back to $0.39 / 0.40 levels
 
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June will be a gold month.
My opinion is that CDV bullish signals and increased volume indicate a healthy growth to the coming month.
 

Dona Ferentes

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Cardinal Resources CDV is a West African gold‐focused exploration and development company that holds interests in tenements in Ghana. The company has been focused on the funding and development of its Namdini Project, which hosts a published gold Ore Reserve comprising 5.1Moz (138.6 Mt @ 1.13 g/t Au; 0.5 g/t cut‐off), inclusive of 0.4Moz Proved (7.4 Mt @ 1.31 g/t Au; 0.5 g/t cut‐off) and 4.7Moz Probable (131.2 Mt @ 1.12 g/t Au; 0.5 g/t cut‐off).

CDV has been involved in a strategic process with banks, financiers and other parties, with the aim of realising value from the Namdini Project. Unfortunately, securing project funding has not been an easy process in a tough market environment. As a result, CDV has been the recipient of two takeover offers.

Its major shareholder, Nord Gold’s original offer of $0.66 per share represented a 10% premium to the Shandong Gold Mining $0.60 per share offer, which was the opening salvo in the bidding war. Shandong Gold then raised its cash offer to $0.70 per share, subsequent to which Nord Gold then returned with its latest cash offer of $0.90 per share.

Stairway to Heaven?
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Dona Ferentes

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What do they know that we don't?
CDV released the results of its much-anticipated Namdini Feasibility Study during October 2019, confirming it as a gold project with attractive economic returns. The Study forecasts 4.2Moz of gold will be produced over a 15-year period at an All‐in Sustaining Cost of US$895/oz, compared to 3.9Moz at US$769/oz in the Pre‐Feasibility Study. Namdini will comprise a single, large open‐pit with a conventional process plant design.

- it is in Ghana? Mark Creasey was not involved?
 
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I had to take a double look at the following as I had not seen a FAX for a long time.

Although marked price sensitive the SP should be OK, as Shandong Gold has control of the company now

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