Bullboard - Stock Discussion Forum Cardinal Resources Limited. CRDNF

Metals & Mining Industrial Metals & Minerals

Cardinal Resources Limited is an African gold-focused exploration and development company which holds interests in tenements within Ghana, West Africa. The Company is focused on the development of the Namdini project.

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Cardinal Resources Limited. > Cardinal Resources - A Mess

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Post by 123buyholdhope on Nov 19, 2020 12:17pm

Cardinal Resources - A Mess

How did Shandong get itself into such a pickle over this bidding war? Seems if they had just included, a couple of words in the statement that they would offer a higher bid if’ …there is a (matching or) higher competing offer (including an announcement of an intention to make a higher competing offer) exceeding A$1.00 per Cardinal share.’ How on earth did all those high-priced mineral lawyers and exploration project experts for Shandong miss this? Or an I way off?

Seems that Cardinal is now caught as the AUS Takeovers Panel has reject the appeals by the 3 parties. So, CR has put out basically a plea for a third-party bidder just to come in to break the A$1.0 offer by Shandong and Nordgold, so both can then legally make higher offers. NG seems intent on 'working' the shareholders as they have done in past small exploration takeovers.

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