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Numbers propel Cardinal's big Namdini project into full feasibility

CARDINAL Resources is moving into a full feasibility study after preliminary work showed a US$414 million development at Namdini in Ghana could produce an average of nearly 300,000 ounces per annum at all-in-sustaining-costs of $769/oz.

Michael Quinn
Namdini

Namdini

On a post-tax basis the project was estimated to have an NPV of $586 million, and an IRR of 38%. Payback was put at 1.8 years, with Cardinal using a gold price of $1250/oz for its modelling. At a...

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