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Shandong in pole position for Cardinal takeover – MINING.COM – MINING.com
Shandong is now the only remaining bidder, with a relevant interest in over 68% of Cardinal’s shares.
In late December, Shandong effectively gained control over the company after receiving aggregate acceptances for over 50% of all Cardinal shares and upping its offer price to A$1.075 a share from A$1.05 a share.
Cardinals flagship asset is the Namdini gold project in Ghana, which contains a published ore reserve of 5.1 million ounces
Aside from Shandong, Cardinal had received conditional offers from other interested bidders. However, both Engineers & Planners Company Ltd. and Dongshan Investments…
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