Nordgold S.E. has come back with a beefed up offer of 66c/share for Cardinal Resources Ltd.
A non-binding 45c/share offer tabled by Nordgold for Cardinal earlier this was recently trumped by China’s $15 billion outfit Shandong.
Shandong’s proposal of 60c/share for Cardinal was more to the latter’s liking and has been backed in.
Therefore, Cardinal has urged shareholders to “take no action” on Nordgold’s latest offer.
Read more on why Cardinal is attractive to both parties in the latest edition of Gold Mining Journal www.paydirt.com.au