Cardinal Resources completes second tranche placement

Cardinal Resources Limited announced that it has allotted 6 416 670 fully paid ordinary shares at $0.12 per share following the approval at the General Meeting of Shareholders. 

The Company now has 222 074 697 fully paid ordinary shares and 117 587 039 options exercisable at $0.15 on or before 30 September 2019.

Managing Director of the Company, Archie Koimtsidis, commented, “We are very pleased with the strong level of support from new and existing shareholders who recognise the significant potential of our projects. We are pleased that the tremendous potential of our Ghanaian Projects is increasingly being recognised by a range of Sophisticated Investors.”

Cardinal Resources Limited is a focused gold exploration and development company. Its key assets are located in the mineral-rich country of Ghana, West Africa. Ghana currently has 45 mining projects covering 5 commodities and hosts 32 mining and exploration companies.