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.
Internationally diversified gold producer Nordgold Group has signed an engineering, procurement and construction agreement to design and construct a 33 MW power plant at its Lefa mine - one of the largest gold mines in Guinea.
West African Resources has appointed a chief development officer as it moves into the development phase at its Sanbrado gold project in Burkina Faso.