Cape Lambert Resources is considering the sale of its suite of assets, including the advanced-stage Marampa iron ore project in Sierra Leone.
The company today said it had appointed Cannaccord Genuity to assist in a strategic review of its projects, after receiving a number of unsolicited approaches in recent months.
Cape Lambert ignited market speculation of an asset sell-off last week when it announced it was seeking to sell its royalty held over the Mayoko iron ore project in the Republic of Congo.
The speculation surrounded chairman Tony Sage, who recently underwent a minor heart operation, reducing his business commitments, but not stepping away from Cape Lambert completely.
Today, Cape Lambert said it viewed the review as an opportunity to increase shareholder value.
“The company has engaged in discussions with third parties around a range of potential corporate and strategic transactions,” Cape Lambert said in a statement.
“A number of parties are currently conducting due diligence on various assets and projects.”
At 10:50AM, Cape Lambert shares were up 2.8 per cent, trading at 18.5 cents.
