CAPITAL MARKETS

Early reaction cuts Cardinal stocks

A FALL of more than 40% in Cardinal Resources’ shares after it unveiled its maiden resource and very preliminary metallurgical testwork was due to a lack of investor understanding according to company managing director Archie Koimtsidis.

Andrew Hobbs
Early reaction cuts Cardinal stocks

In addition to the 4.1 million ounce resource, Cardinal said preliminary metallurgical testwork on a pre-concentration and concentrate leach process flowsheet showed gold recoveries of 75-76%. While...

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