M&A

Long-running Cardinal fight set to finally conclude

AFTER a long-fought battle, China's Shandong Gold looks set to emerge victorious in its quest to acquire Cardinal Resources and its undeveloped Namdini gold project in Ghana.

 Cardinal's exploration base in Bolgatanga, Ghana

Cardinal's exploration base in Bolgatanga, Ghana

The fight for Cardinal had become increasingly drawn out, with a stalemate developing as Shandong and Russia's Nordgold both stood firm at offers of A$1.05 per share. However, Christmas Eve proved to...

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