Cardinal Resources Inc fka CDNL

[nonewname1]

He said in the update today that the delegation from the Cameroon government will be meeting with the EXIM (U.S. Export Import Bank) next week to get approval, that is where the financing will ultimately come from. As he tweeted in three 10 mil installments since that is all the EXIM can do at once at this time.

So it comes down to that meeting I believe. From previous updates we know the EXIM has already found the project to be environmentally feasible and sound, so that's a good start.

We've been going through a lot of red tape, we also had to do feasibility studies for other documentation procedures suggested to Cameroon by the international monetary fund, so unless we have to jump through any other hoops for EXIM approval, we should be good.

Cardinal Resources will be sending a team to Cameroon upon the return of the delegation in
early August to meet with CAMWATER, MINEPAT, and MINEE (Ministry of Water and Energy)
with the objective of kicking off the project

We even have a plan for backup financing in place in case it doesn't work out with EXIM, per today's update,

During the week of July 17th representative of the Bank of China met with MINEPAT to express and discuss their interest in financing the contract.