On December 14, 2020, Nord Gold S.E. announced that it has made an offer under an unconditional on-market takeover bid on the Australian Securities Exchange to acquire all of the ordinary shares in Cardinal Resources Limited that it and its associates do not already own. Nord Gold stated that it is now announcing that it is varying the offer by increasing the offer price to A$1.05 per ordinary share from A$1.00 per ordinary share.