Bidding war for Cardinal erupts

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

Bidding war for Cardinal erupts Bidding war for Cardinal erupts Bidding war for Cardinal erupts Bidding war for Cardinal erupts Bidding war for Cardinal erupts

The site of the future Namdini pit

Nordgold already holds 18.7% of Cardinal and has offered 66c per share in cash for the remaining shares it doesn't own.

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

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