Nordgold

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.

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

Divesting the Niou Project in Burkina Faso allows Mako Gold to focus its exploration efforts and capital on its flagship Napié Project in Côte d’Ivoire.

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.

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.

Nordgold has more than doubled capital expenditures in the development of its three mines in Burkina Faso. This equates to over US$145 million in 2018.

West African Resources has appointed a chief development officer as it moves into the development phase at its Sanbrado gold project in Burkina Faso.