Cardinal Resources

The Shandong Gold Offer remains subject to a number of standard market conditions for a transaction of this nature .

Shandong Gold has increased its takeover offer for West African gold explorer Cardinal Resources to A$1.00 a share, up from its previous offer of $0.70 a share.

ASX and TSX-listed gold explorer Cardinal Resources has advised its shareholders to take no action on the increased takeover offer tabled by privately-held gold miner Nordgold.

Gold explorer Cardinal Resources has entered into a deed with Shandong Gold Mining to amend the bid implementation agreement, following its all-cash takeover bid on 18 June.

Cardinal Resources advises that its Namdini Gold Mining Licence has officially received Sovereign Parliamentary Ratification in Ghana.

West African gold explorer Cardinal Resources is the target of a takeover battle between Nordgold and Shandong Gold Mining.

“We have tremendous respect for the Cardinal organization the way it has advance Namdini to its current development status." - Li Guohong

Privately-held gold miner Nordgold has made a non-binding indicative and conditional proposal to acquire all the issued share capital of ASX-listed gold junior Cardinal Resources not already owned by Nordgold.

Cardinal Resources has announced that the RAPfor its Namdini Gold Project in Ghana has been approved by the Minerals Commission of Ghana.

Cardinal Resources has received Water Extract Permits for its Namdini Gold Project in Ghana from the Ghanaian Water Resources Commission.