M&A

Battle for Cardinal not over

CARDINAL Resources has advised shareholders to take no action after Russia's Nordgold again increased its bid under an on-market takeover offer.

 Cardinal's exploration base in Bolgatanga, Ghana

Cardinal's exploration base in Bolgatanga, Ghana

Nordgold is now offering A90c per share, valuing Cardinal at $420.5 million. The Russian gold producer first acquired a 19.9% stake in Cardinal in March and sent the company a non-binding proposal for...

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