https://www.engineeringnews.co.za

Cardinal raises A$17.6m

3rd October 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.om) – Gold-focused explorer Cardinal Resources has raised A$17.6-million through the exercise of listed options, which expired at the end of September.

The ASX- and TSX-listed company noted that more than 117.39-million listed options were exercised, which was 99.84% of the listed options on issue, raising A$17.6-million in cash.

Only 188 081 listed options expired unexercised.

“The company is pleased with the very strong take-up of the listed options, which considerably strengthens the company’s balance sheet and provides much improved scope to do certain long-lead time activities as and when we wish, to ensure a quick pathway to development and gold production at our large Namdini project,” said Cardinal CEO and MD Archie Koimtsidis.

He noted that many of the options exercised were held by long-term shareholders who participated in various capital raisings during 2014 and 2015, and received these options.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 0.918s - 140pq - 2rq
Subscribe Now