It has taken a longer time than anticipated, but the company is advancing on many fronts now all at the same time. This is an enormously important time for Cardinal Resources. Several things that are coming online RIGHT NOW !!
1. CEO just made trip to China to celebrate Joint Venture (JV) with Hangzhou Sky Valley Water Technology, Ltd. (HSVW). (CEO and team head back to China next week "end of April")
2. JV entails HSVW peforming a Share Purchase Agreement (SPA) in the form of $7.5 Million Dollars in 2 Tranches of $3.75 Million each.
3. CEO Kevin Jones confirmed last week that CDNL is speaking with counsel to initiate a share buy back program as soon as possible.
4. Part of the first tranche is also to be used to pay off debt.
5. Key milestones are in place for continued SPA investment by HSVW.
6. Both companies are working together to reach these milestones. They are both working to establish the JV companies in both China and the USA.(This includes corporate structures/key hiring and manufacturing facilities)
7. The CAMWATER project estimated at $28.8 Million dollars is awaiting the Cameroonian government to select the mandate bank to begin that project. (Just recently, the government of Cameroon granted Environmental Assessments, Feasibility Studies and Strategic Evaluations for 13 communities valued at $950,000 which is in addition to the original CAMWATER project) A team of Cardinal professionals are heading to Cameroon next month (May) to perform this work.
8. Cardinal is currently manufacturing 2 Cardinal Redbird systems for HSVW as part of the JV so that HSVW will have units to display and perform demonstrations to prospective clients.
9. Cardinal is currently manufacturing another unit for the Wickenberg, Arizona project.
10. The Chicago project is coming online next week. (this remediation project is expected to be worth between $350,000 to $500,000 time and material's range.)
11. It was reported by CDNL that there are other orders in the pipeline but they cannot release company names yet.
12. A system was installed in Soloy, Panama and approved by the government for clean water drinking standards. This is moving forward with CDNL and the Panamanian government along with CDNL's partner in Panama - Agua Saludable Group.
I believe there are other contracts in Nigeria and Senegal that could begin moving forward now that CDNL has capital and a working partner.
There may be a whole list of other items I have forgotten about. Other's here, please feel free to cut/paste my list and add to the possibilities here.
Thanks fellow investors - I feel very good about investing in Cardinal Resources, Inc.
Proud member of the "millionshaires" club.
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