Cardinal Resources Inc fka CDNL

[PURA VIDA]

BAYELSA STATE NIGERIA BACK IN FOCUS !

As those of us who have been researching Cardinal Resources, Inc. for many months now, we see that the Nigeria project is finally getting back on course. This work has been over 3 years in the making. As Kevin Jones (CEO of Cardinal) said:

"Although working in West Africa presents some unique challenges, we believe that its absolutely critical to address the need for clean water in this part of the world, and to do so using sustainable solutions like our Red Bird system"

So for those of you who doubt all of the work done by Cardinal and Kevin Jones - just some past contract work and news outlet posts.
The type of work, the governmental regulations, the financing, geopolitical uncertainties, etc.... have indeed been a challenge, but I think all investors should see that Kevin has NEVER given up and continues to work these initiatives forward - even with the incredible challenges !!

This work will come back into play, it may be hybrid financing that is necessary at this point, but the work that Cardinal Resources has done in the past, has indeed brought this back into play NOW.

CLICK HERE for - May 25th News Release by Cardinal Resources, Inc.

The following is the original Bayelsa State Contract Agreement between the state and Cardinal Resources, Inc. before the Oil prices fell considerably world-wide and put this contract on hold:

CLICK HERE TO VIEW - THE BAYELSA STATE GOVERNMENT OF NIGERIA - CARDINAL RESOURCES CLEAN WATER CONTRACT

As well, a couple of News articles that were published at the time the contract was signed......

http://bayelsanow.blogspot.com/2013/07/bayelsa-state-government-invest-200.html

http://www.bizjournals.com/pittsburgh/blog/energy/2013/07/cardinal-inks-65m-deal-for-solar.html

http://www.bizjournals.com/pittsburgh/print-edition/2013/07/26/cardinal-resources-takes-flight-overseas.html

And from Kevin/Cardinal's August 17th update....

Bayelsa Nigeria

As previously reported, the Bayelsa Nigeria contract, which was stopped due to economic concerns in Nigeria is starting to move forward again. While Cardinal Resources Inc. has been paid for the work completed, we have been working with the Ministry of Water to come up with a mechanism to match the current funds the Government of Bayelsa has reserved with renewed production of systems and other goods under the contract. As we have previously reported, this is under a signed contract and does not rely on Export Credit Agency (ECA) which enables us to work together with the customer to develop a viable approach to the restart. The current revision is based on finishing the work first at the sites, where foundations and raw water tanks are in place. These mini-utility sites which are based around the CRB-40 would become operational, generating clean water for the community and revenue for the water authority to help fund moving forward on the next group of sites. Cardinal Resources would receive an initial lump sum followed by monthly payments.

We anticipate having resolution on this contract modification before the end of August and will likely combine a trip to Bayelsa with the Cameroon trip.