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Nordgold makes Cardinal offer

Cardinal Resources has received a US$170 million ($A277 million) takeover proposal from Russia’s Nordgold.

Nordgold makes Cardinal offer Nordgold makes Cardinal offer Nordgold makes Cardinal offer Nordgold makes Cardinal offer Nordgold makes Cardinal offer

Cardinal Resources' exploration base in Bolgatanga, Ghana

Nordgold revealed it had a 19.9% stake in Cardinal, mainly via the acquisition of Gold Fields' 16.4% stake.

The company said it would pay about A$37 million for Gold Fields' stake, or roughly 45.

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