GREY:CRDNF - Post by User
Comment by
123buyholdhopeon Nov 24, 2020 3:12pm
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Post# 31962657
RE:The "very" long awaited $1.05 offer filed
RE:The "very" long awaited $1.05 offer filedYes, here comes Cardinal's much hoped for (and basically publically requested) third party bid intervention. Must have both CR and especially Shandong (after their last offer misstep) breathing a sigh of relief. Now the bidding can continue. Nordgold must be disappointed after their use of Shandong's own legal wording allowed them to step in prevent any further Chinese bidding. Then NG could do what they are renowned for re., working the shareholders to enact a buyout.
Question is how much higher will both parties go? NG has their possible Montagne d'Or mine in French Guiana to deal re., ability to finance if granted in 2021. I don't think the Ghanaians will continue their bidding, but any increases will benefit their state sovereign stake already in the company (10%?). Should be interesting and rewarding for CR holders (unfortunately not one).
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