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8/23/17

Cardinal Resources (CDV.to) (CDV.ax) and its ridiculous, deceitful BS news release today

There should be a law! Oh wait, there are! Several in fact and a few of them come under the criminal fraud category. This morning Cardinal Resources (CDV.to) (CDV.ax), a bunch of bullshitters trying to separate the naive from their cash, published this NR about the latest results at it flagship Namdini project in Ghana. But instead to trying to represent their project with numbers that tell the truth, CDV, under the guidance of the weaselly Alec Rowlands, has gone the route that liars take.

Consider the headline of the NR "Cardinal Resources Drills 147 Metres of 3.1 g/t Gold at Namdini Project, Ghana". Sounds flashy and cool and when you scroll down a bit and see the same thing as one of the five drill holes reported, all looks confirmed. But then you see underneath between brackets "LWAG1" and then you get to the smallprint underneath which says this:
"1 Length Weighted Average Grade (LWAG): Calculations are based on 3m minimum width, 3m maximum contiguous waste and 0.5 g/t Au cut-off."

That is technical talk for "WE ARE LIARS, YOU ARE STUPID, WE ARE LAUGHING AT YOU" Because when you get to the real data, buried way down the NR where people fear to tread, you get to see the reality of the headline hole:



In short, what CDV decided to do with its holes reported today is totally ignore any part of the hole that doesn't have any grade and just tell you about the bits that have gold in it. Try ignoring the zero grade material when you start mining it!

And once you crunch the numbers on all the holes, the scale of this utter BS becomes apparent


  • Hole 92 is NOT 147m of 3.1 g/t gold, it is 434 metres of 1.0 g/t gold!
  • Hole 154 is NOT 87m of 1.1 g/t gold, it is 225 metres of 0.4 g/t gold!
  • Hole 79 is NOT 173m of 1.2 g/t gold, it is 391 metres of 0.5 g/t gold!
  • Hole 91 is NOT 162m of 1.5 g/t gold, it is 279 metres of 0.9 g/t gold!
  • Hole 79 (II) is NOT 97m of 3.1 g/t gold, it is 194 metres of 0.8g/t gold!

In so many words, the vast majority of this project is uneconomic waste. Exactly what CDV want to hide from the market. Bullshit liars, burn them with fire.
IKN thanks readers 'R' and 'A' for the heads up.

UPDATE: The Angry Geologist adds his dos centavitos. Fave line of his, "I like the fact that they didn't need to deceive anyone, but that they felt that they had to".