Hi guys,
Hope you all had a great xmas and NY.
Some great points about CDV I needed to be reminded about..
-Management have skin in the game, they hold a large amount of shares
- It appears, that retail holders selling off and transfer of wealth back to institutional holders
- Hartleys have a speculative buy target price of near double current SP
- 4.1 million ounces discovered, optimal route for gold is being determined.
-Geometry of Namdini site is favourable and expected to translate to a low strip ratio open pit mining opportunity.
-Good infrastructure with water supply and sealed highways close to project area.
- The large and shallow mineralised system remains open and Cardinal has an extensional drilling program underway to further expand and improve resource confidence, could be in position to upgrade the resource in FY17
- First and second quarters of FY17 should reflect the hard yards done into making this massive discovery
- Metallurgy scan of entire area is now being conducted. I'm assuming the initial met test work which provided poor over gold recoveries, may be exaggareted and further punished by the EI report released after, and therefore future bad news if any, may already be priced into sp. Furthermore, the results were delivered from only one drill hold within the +1km long deposit, and may not be representative of the whole area.
- Despite current turbulence in POG, I'm still quite bullish on goldies
- CDV has good cash position with zero debt, MC at approx 70 million, and in my opinion shares are good value.
