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Bidding upped for Cardinal Resources

Cardinal Resources’ major shareholder, Russia’s Nordgold, has launched an on-market takeover bid that values the gold developer at A$347 million (US$243 million).

Bidding upped for Cardinal Resources Bidding upped for Cardinal Resources Bidding upped for Cardinal Resources Bidding upped for Cardinal Resources Bidding upped for Cardinal Resources

The site of the future Namdini pit in northern Ghana

Nordgold already holds 18.7% of Cardinal and has offered A66c per share in cash for the remaining shares it doesn't own.

Nordgold had earlier made a non-binding takeover proposal at 45.