News Articles for Cardinal Resources

Board Moves February 1, 2021

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Our board moves wrap includes Mark Clements, John Palermo, Trevor Stoney, Boyd Timler, Edward Mead, Joan Dabon, Kim Hogg, Qiang Du, CanWu Zheng, HuiJie Duan, LingQuan Kong, Kevin Tomlinson, Trevor Schultz, Jess Oram, David Sproule, Michael Meintjes, and Graeme Rapley.

M&A deals shift the dial

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Several Perth companies executed value-creating mergers and acquisitions last year, none more so than Pilbara Minerals.

Cardinal directors accept Shandong offer

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All directors of Perth-based Cardinal Resources have accepted a takeover proposal from China's Shandong Gold, which recently raised its offer price to $1.075 per share.

Shandong takes control of Cardinal

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Shandong Gold has assumed control of Perth-based Cardinal Resources, following a nine-month bidding war with Russia's Nordgold and despite two late takeover proposals.

Shandong ups Cardinal bid

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China's Shandong Gold has matched a new bid to buy out takeover target Cardinal Resources, having offered to pay $1.05 per company share.

New bid for Cardinal

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A Ghanaian business has joined the battle to buy out Perth-based Cardinal Resources, topping previous bids for the gold explorer with a new cash offer of $1.05 per share.

Takeovers Panel rejects changes to Cardinal bids

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The Takeovers Panel has rejected a request from Perth-based Cardinal Resources to improve separate takeover offers from Russian mining giant Nordgold and China's Shandong Gold.

Cardinal, Shandong go to Takeovers Panel

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Takeover target Cardinal Resources has requested that its bidders be allowed to improve their proposals after having declared their $1 per share bids as ‘best and final'.

Cardinal takeover saga continues

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Russian miner Nordgold has extended its offer to buy Perth-based Cardinal Resources, one day after matching the off-market proposal from China's Shandong Gold.

Fight for Cardinal continues

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Russia's Nordgold is not backing down in a takeover battle for Cardinal Resources, despite the Perth-based gold play in favour of a matching offer from Shandong Gold.

Nordgold goes to Takeovers Panel

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Russian mining giant Nordgold alleges its takeover target Cardinal Resources has acted deceptively towards shareholders, with the matter escalated to the Takeovers Panel.

Nordgold’s new offer for Cardinal

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Russian miner Nordgold has continued its fight for Perth-based Cardinal Resources, having matched an offer to buy the gold explorer for $1 per share.

Cardinal directors accept $566m Shandong offer

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The directors of Perth-based Cardinal Resources have accepted a takeover proposal from Chinese company Shandong Gold, ahead of a competing bid from Russian-owned Nordgold.

Shandong Gold raises Cardinal bid

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Chinese-owned Shandong Gold has responded to an increased takeover bid for Cardinal Resources, having offered to buy the West Perth company for around $566 million.

Nordgold ups Cardinal bid in takeover battle

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Russian-owned Nordgold has made a new offer to buy Cardinal Resources, trumping a competing bid from Chinese company Shandong Gold by around $26 million.

Cardinal bidder gets FIRB approval

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Shandong Gold has received federal government approval to proceed with its takeover of Perth-based Cardinal Resources, despite increasing sensitivity around Chinese foreign investment.

Cardinal backs Shandong offer

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Takeover target Cardinal Resources has recommended shareholders vote in favour of the recently-improved proposal from Shandong Gold, which is offering to buy Cardinal for around $395 million.

Shandong raises Cardinal bid to $368m

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Takeover target Cardinal Resources has received a higher purchase offer from China-based Shandong Gold, after competing buyer Nordgold upped its bid last week.

Nordgold ups Cardinal bid

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Russian-owned Nordgold has increased its bid to acquire Cardinal Resources to around $347 million, which trumps a competing proposal from Shandong Gold that has already been endorsed by Cardinal.

Shandong Gold makes $300m move on Cardinal

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Cardinal Resources has received an all-cash takeover bid from Chinese producer Shandong Gold, which has offered to buy the West Perth-based company for 60 cents per share.

Nordgold makes $227m Cardinal move

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Russia-based Nordgold is looking to expand its operations in Africa by making a takeover bid for Cardinal Resources after increasing its stake in the West Perth-based company to nearly 20 per cent.

Cardinal releases positive feasibility study

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Cardinal Resources is pressing ahead with engineering studies for its Namdini gold project in Ghana after completing a feasibility study that delivered what it called a compelling and robust outcome.

Three gold juniors raise nearly $27m

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Cardinal Resources has raised $17.6 million through the exercise of listed options, while Black Cat Syndicate and Azure Minerals were also in the market for equity.

Cardinal locks in $US25m funding deal

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Cardinal Resources has secured a $US25 million ($33.7 million) credit facility with Canada-based asset manager Sprott Private Resource Lending, as the junior explorer progresses a feasibility study at its Namdini gold project in Ghana.

Cardinal secures equity deal

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Africa-focused gold explorer Cardinal Resources has attracted an equity deal through brokerage firm Clarus Securities for a $C12 million ($A12.2 million) investment in the business.

Cardinal in $23m raising, TSX listing

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Gold explorer Cardinal Resources has announced plans to raise up to $22.7 million to fund ongoing drilling work at its Namdini project in Ghana, while also putting forward plans to dual-list on the Toronto Stock Exchange.

Lithium, gold stocks lift deal flow

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SPECIAL REPORT: Lithium stocks led by Pilbara Minerals and Galaxy Resources have seized the opportunities presented by the commodity's surge.

Cardinal raises more funds for Namdini

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Gold hopeful Cardinal Resources has rattled the tin for $21.7 million to fund ongoing work at its Namdini project in Ghana.

Gold sector shines for brokers

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The gold sector has continued to be positive for investors and stockbrokers, with a $12.5 million capital raising announced today by West African Resources adding to more than $150 million worth of deals launched by Western Australian companies this year.

Junior miners raise $16m

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Five junior resources companies have completed a combined $16.4 million worth of capital raisings to fund ongoing work at their respective operations.

Cardinal Resources appoints new chairman

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Mark Connelly has been appointed as the non-executive chairman of Cardinal Resources.

Cardinal raises $5m for gold project

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Cardinal Resources has received firm commitments for a $5 million capital raising to fund ongoing work at its Namdini gold project in Ghana.

Cardinal Resources appoints two new non-executive directors

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Mark Thomas and Simon Jackson have been appointed as non-executive directors of Cardinal Resources Limited.

Marcus Michael passes away

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Perth-based company director and accountant Marcus Michael, who worked with multiple mining and exploration companies, passed away last Thursday at the age of 48.

Cardinal raises $900,000 for Ghana

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Cardinal Resources has completed its bid for $900,000 of capital from sophisticated and professional investors, with additional rights issue shares yet to become available to eligible shareholders.

Cardinal seeks $1.6m for Ghana

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Cardinal Resources has announced a $1.6 million placement and non-renounceable rights issue of options to raise funds for continued exploration of its West African mines.