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Cardinal Resources Ltd

www: cardinalresources.com.au   email: info@cardinalresources.com.au
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
ASX:CDV AUD
OTCMKTS:CRDNF USD
TSE:CDV CAD

Description

Cardinal Resources Ltd are a gold focused junior, late stage development company with three exploration properties in Ghana. They have approximately 7Moz. of gold in the reserves and resources category of which 6.5Moz. are in the measured and indicated category. They have a market capitalisation of ~A$213.3M which is a rise of roughly 84% over the last eight months. As of 11/24/2019 they have ~A$24M debt and ~A$18.83M cash. They have 494M shares outstanding and trade on the Australian Stock Exchange, the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 11/24/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $116.11M $213.30M 11/24/2019 $97.18M
Total Assets: $21.74M $22.32M 11/24/2019 $0.58M
Total Liabilities: $25.13M $25.81M 11/24/2019 $0.67M
Current Assets: $21.06M $21.62M 11/24/2019 $0.57M
Current Liabilities: $1.36M $1.39M 11/24/2019 $0.04M
Total Debt: $23.77M $24.41M 11/24/2019 $0.64M
Cash: $18.34M $18.83M 11/24/2019 $0.49M
Enterprise Value: $121.55M $218.88M 12/08/1976 $97.33M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 11/24/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 11/24/2019 0.00%
Misc 11/24/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 493,940,000 493,940,000 11/24/2019 0
Shares (FD): 526,000,000 526,000,000 11/24/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 11/24/2019 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 11/24/2019 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 11/24/2019 0
Initial CapEx (Outstanding): n/a n/a 11/24/2019 n/a
Funding Option: n/a n/a 11/24/2019 n/a
Documentation: none none 03/16/2020 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 11/24/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 5.00M 5.00M 11/24/2019 0.00M
Measured & Indicated: 6.50M 6.50M 11/24/2019 0.00M
Inferred: 0.50M 0.50M 11/24/2019 0.00M
Reserves & Resources: 7.00M 7.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 4.25M 4.25M 11/24/2019 0.00M
Measured & Indicated: 5.27M 5.27M 11/24/2019 0.00M
Inferred: 0.21M 0.21M 11/24/2019 0.00M
Reserves & Resources: 5.48M 5.48M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 11/24/2019 $0.00
Extra Operating Cost: n/a n/a 11/24/2019 $0.00
Average Grade: 1.20 g/t 1.20 g/t 11/24/2019 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 03/16/2020 0.00%
F
U
T
U
R
E		 Proven & Probable: 5.00M 5.00M 11/24/2019 0.00M
Annual Production: 300,000oz. 300,000oz. 11/24/2019 0oz.
Cash Cost: $750 $750 11/24/2019 $0
Extra Operating Cost: $400 $400 11/24/2019 $0
SILVER 11/24/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 11/24/2019 0.00M
Measured & Indicated: n/a n/a 11/24/2019 0.00M
Inferred: n/a n/a 11/24/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 11/24/2019 0.00M
Measured & Indicated: n/a n/a 11/24/2019 0.00M
Inferred: n/a n/a 11/24/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 11/24/2019 $0.00
Extra Operating Cost: n/a n/a 11/24/2019 $0.00
Average Grade: n/a n/a 11/24/2019 n/a
Recovery Rate: n/a n/a 11/24/2019 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 11/24/2019 0.00M
Annual Production: n/a n/a 11/24/2019 n/a
Cash Cost: n/a n/a 11/24/2019 n/a
Extra Operating Cost: n/a n/a 11/24/2019 n/a

Property

Last Analysis Data  (11/24/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Exploration Bolgatanga 100% (guess) 66,000 Underground show
Early exploration.
Exploration West Africa, Ghana Namdini 100% (guess) n/a Open Pit show
7 million oz open pit project at 1.2 gpt.
Exploration West Africa, Ghana Subranum 100% (guess) n/a Open Pit show
Early exploration
Total Land Package Size (ha): 66,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Exploration Bolgatanga 100% (guess) 66,000 Underground show
Early exploration.
Exploration West Africa, Ghana Namdini 100% (guess) n/a Open Pit show
7 million oz open pit project at 1.2 gpt.
Exploration West Africa, Ghana Subranum 100% (guess) n/a Open Pit show
Early exploration
Total Land Package Size (ha): 66,000  

Profitability (by resource)

Proven &
Probable		 11/24/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 5.00M 5.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 43.48M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 4.25M 4.25M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 36.96M
Maximum Profit (Gold): $925.52M $1,917.39M n/a $991.87M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $925.52M $1,917.39M n/a $991.87M
Max Profit / Current MCap: 7.971 8.989 n/a 1.018
Max Profit Per Share (Gold): $1.76 $3.65 n/a $1.89
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.76 $3.65 n/a $1.89
Total Free Profit Per Share: $1.43 $3.10 n/a $1.66
FD Mkt. Cap / Gold Eq.: $27.32 $50.19 n/a $22.87
FD Mkt. Cap / Silver Eq.: $0.32 $0.53 n/a $0.21
FD Mkt. Cap / Per Metal
as % Spot Price:		 1.87% 2.80% n/a 0.93%
Measured &
Indicated		 11/24/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 6.50M 6.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 56.53M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 5.27M 5.27M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 45.83M
Maximum Profit (Gold): $1,147.65M $2,377.56M n/a $1,229.91M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,147.65M $2,377.56M n/a $1,229.91M
Max Profit / Current MCap: 9.884 11.147 n/a 1.263
Max Profit Per Share (Gold): $2.18 $4.52 n/a $2.34
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.18 $4.52 n/a $2.34
Total Free Profit Per Share: $1.86 $3.97 n/a $2.11
FD Mkt. Cap / Gold Eq.: $22.03 $40.47 n/a $18.44
FD Mkt. Cap / Silver Eq.: $0.26 $0.43 n/a $0.17
FD Mkt. Cap / Per Metal
as % Spot Price:		 1.51% 2.26% n/a 0.75%

Reserves &
Resources		 11/24/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 7.00M 7.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 60.88M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 5.48M 5.48M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 47.68M
Maximum Profit (Gold): $1,193.92M $2,473.43M n/a $1,279.51M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,193.92M $2,473.43M n/a $1,279.51M
Max Profit / Current MCap: 10.282 11.596 n/a 1.314
Max Profit Per Share (Gold): $2.27 $4.70 n/a $2.43
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.27 $4.70 n/a $2.43
Total Free Profit Per Share: $1.94 $4.15 n/a $2.21
FD Mkt. Cap / Gold Eq.: $21.18 $38.90 n/a $17.73
FD Mkt. Cap / Silver Eq.: $0.25 $0.41 n/a $0.16
FD Mkt. Cap / Per Metal
as % Spot Price:		 1.45% 2.17% n/a 0.72%

Future Valuation (Cash Flow & Totals)

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