Cardinal gets takeover offer

CARDINAL Resources has received a A$277 million takeover proposal from Russia’s Nordgold.

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Cardinal's 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 $37 million for Gold Fields' stake, or roughly 45.

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