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Cape Lambert delays Marampa listing

Cape Lambert Resources has deferred listing its Marampa iron ore project on the London Alternative Investment Market (AIM) until later this year, citing the volatile nature of world capital markets.

Cape Lambert, which is chaired by Tony Sage, holds interests in several resources projects in Australia, Africa and South America including iron ore, gold, copper and uranium.

The Marampa iron ore project in Sierra Leone is expected to cost $458 million to develop, with the company saying the second stage could require a further $1 billion of capital investment.

In a notice to the Australian Securities Exchange, Cape Lambert said the Maramapa listing on AIM would not occur until at least September 2012, after the London Olympics and end of summer holidays in the northern hemisphere.

The miner also said that "during this deferral period the company will continue to respond to interest from third parties" relating to a possible asset sale of Marampa.

The capital raising is expected to allow Cape Lambert to sell down a 25 per stake in the project, which is expected to produce two million tonnes a year initially, expanding to 10 million tonnes a year by 2016.

Cape Lambert last traded at 44.5 cents before it was supended from trading on May 18.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 30/04/18

1 year TSR5 year TSR
91stBass Metals117%30%
302ndCape Lambert Resources25%-18%
424thLithium Australia4%18%
615thToro Energy-27%-21%
818thCalidus Resources-75%-24%
721 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/04/18
$19k Bought
11/11/16
$60k Bought
17/08/15
$321k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

81st↑Cape Lambert Resources$3.0m
100th↑Lithium Australia$1.8m
102nd↑Calidus Resources$1.7m
106th↓Bass Metals$1.6m
107th↓Toro Energy$1.6m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Cape Lambert Resources

37thTony Sage$730k
472ndMelissa Chapman$277k
thEloise von Puttkammer$187k
Ranked by total remuneration from all listed WA companies

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