(SMM9, March 8,: Cardinal Resources (Cartino Resources Co., Ltd.) Shandong Gold remains committed to acquiring the company and intends to raise its offer price to A $1 per share, compared with A $0.60 per share, Shandong Gold said in a statement to the Australian Stock Exchange. Cardinal is considering this offer with its Special Committee as well as financial and legal advisers.
The bid no longer needs to be approved by Chinese regulators or FIRB.
The conditions remain the same, including the minimum acceptance of 50.1% of the shares.
Cardinal Resources is a gold exploration and development company founded in 2010 and headquartered in Perth, Australia. It is currently listed on the Australian Stock Exchange and the Toronto Stock Exchange.
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