Cape Lambert launches asset review
PERTH (miningweekly.com) – Resources firm Cape Lambert on Thursday told shareholders that it would be undertaking a strategic review of its assets, and had appointed Canaccord Genuity to weigh up strategic options.
Cape Lambert said that these options could include the potential monetisation of current assets, including the advanced Marampa iron-ore project, in Sierra Leone.
The ASX-listed company said in a statement that the strategic review was prompted after it received a number of unsolicited approaches in recent months.
Cape Lambert had engaged in discussions with third parties around a range of potential corporate and strategic transactions, and a number of parties were currently conducting due diligence on various assets and projects.
The company had been actively seeking to sell-off an equity stake in its Marampa project, with plans to list the project on London’s Aim.
It added on Thursday that the review would be an opportunity to assist with significant value uplift for existing shareholders, given the substantial difference between the net tangible asset value of the company, and the market capitalisation.
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