Nordgold increases Cardinal offer

The long-running battle for Cardinal Resources has taken another turn after Russia’s Nordgold matched a A$1 per share bid by China’s Shandong Gold.

Cardinal Resources' exploration base in Bolgatanga, Ghana

Cardinal previously recommended shareholders accept Shandong's off-market offer over Nordgold's 90c per share on-market bid.

Shandong this week declared its unconditional bid its best and final offer.

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