Cape Lambert Iron Ore Share Discussion Threads

[lonrho] 28/1/2009 10:09

not going private just cancelling aim listing ,shares will still be quoted on asx and existing aim holders will be able to sell their shares on the asx.

[pelleeds1980] 28/1/2009 10:03

Going private...

[cocorico2009] 28/1/2009 09:46

FYI

ADVFN competitor.uk-wire.com/cgi-bin/articles/200901280929183667M.html

Good luck all

[stemis] 23/1/2009 08:09

Acquisition of 5% of Marampa for 17M shares.

Since CLIO have an option to acquire 100% of Marampa for $175M, buying 5% equates to $8.75M or £6.4M or the equivalent of 37p a share. IF they end up exercising their option then this will be an excellent deal.

The structure of the deal looks a bit strange. CLIO are not buying the shares of Marampa off African Minerals, they are issuing shares to Marampa in exchange for new shares in Marampa and diluting African Minerals down to (now) 65%. Consequently CLIO own 35% in Marampa which itself owns 11.6% of CLIO. CLIO therefore has a 4% indirect interest in itself!

[petemorr] 23/1/2009 01:34

thanks eddie!

[eddie catflap] 23/1/2009 01:13

I believe the mezzanine financing refers to cash that has been distributed, by Cape Lambert, between 3 ASX quoted mining companies. (and thus should be excluded from the calculation)

Cape Lambert are paid interest on the "loans" but have the option to convert into an equity stake (possibly controlling stake)at a later stage.

Clearly, they are now no longer a "mining exploration" company but a mining investment company. (Cape Lambert South excepted)
(I liken them to the early days of RAB Capital)

Additional value will only come from management's skill in picking up cheap assets in a difficult market. From memory, I think London Pacific had success with a similar strategy (in coal mining?)

I have no idea if they will succeed but the market is discounting their chances, so for that reason, I remain in.

[petemorr] 20/1/2009 09:29

Any thoughts on the mezzanine financing?!

[stemis] 20/1/2009 08:02

Yes but Aus$85M tax to pay as well

[wassapper] 20/1/2009 07:44

plus Oz $80m stil to come from the Chinese.

* As at 19 January 2009, Cape Lambert had cash reserves of approximately AUD$223
million.
* Cape Lambert is continuing to work closely with China Metallurgical Group Corporation,
providing assistance and guidance in respect to permitting and mining approvals to enable the
grant of a mining lease and related construction approvals in the shortest possible time frame,
thereby enabling receipt of the final cash payment of AUD$80 million.

[stemis] 20/1/2009 07:41

A 19 January cash reserves of Aus$223M + Aus$7.8M Mezzanine loans = Aus$230.8M

My figures were Aus$234M, so pretty much in line with what I expected.

[littlemadam] 17/1/2009 18:42

SteMis.
Good thinking but it looks like Tony Sage is looking at the wider picture and wants to snap up companies that have good prospects but fallen on hard times. Cruel I know but we will benefit. Still, nothing wrong in putting your ideas to him ... seriously.

[stemis] 16/1/2009 13:06

They could always bid for African Minerals (AMI).

Current market capitalisation of AMI is £49.7m. It recently raised £20m and had £14m at 30 June, so net cash cost to CLIO (even allowing for a premium) should be manageable.

AMI owns the other 70% of Marampa over which CLIO have an option to buy for £90M. In addition AMI have their flagship Tonkolili iron ore project in Sierra Leone and the rights to upgrade and run the port and rail facilities at Pepel in Sierra.

[stemis] 16/1/2009 12:56

After receipt of final payment from MCC, payment of tax and payment of Marampa costs I make net (proforma) cash to be 18.3p a share. On top you get Cape Lambert South and 30% stake in Marampa. Maybe the market is waking up?

[littlemadam] 16/1/2009 10:43

TMM, Seems about it. I may get my 20p target before end of the month, although I have no intention of selling; then perhaps only part of my holding at 35p

[the metal man] 16/1/2009 10:35

Ticked up again in Oz, although we have sellers here. The volume in Oz is much higher and would guess that is the real benchmark.

[littlemadam] 14/1/2009 11:50

up slightly in Oz, spread narrowed and bid up. I am looking for a nice, slow riser here.
Away in Spain next 4 weeks and would like 20p when I get back.

[the metal man] 12/1/2009 17:05

An advanced Uranium project might not be a bad idea.

[littlemadam] 08/1/2009 09:25

divina
my thinking too.

[divinausa1] 07/1/2009 23:29

I hope they pick a couple of gold projects, gold price is expected to rise and rise and gold producers have been thrashed for no reason.

[kefta] 07/1/2009 20:21

This is one share I am happy to hold got a nice pay back in October with the return of capital and dividend and it still has GBP90 million to play with as well as having assets.

I have read that they are meeting 2 chinese delegations at their Marampa Iron Ore project to discuss developing the site's rail and port infrastructure in return for offtake agreements.

The timing of the sale of the namesake iron ore project in Oz couldn't have been better, in those few short months since the aus$400 million sale the markets have
deteriorated and cash is king, they are now in the enviable position of having companies beating a path to their door with the begging bowl, they apparently have drawn up a shortlist of 7 projects.

I for one am hoping they get it right, if they do they could well emerge from this down turn as a force to be reckoned with. I am looking forward to the imminent news to see which projects they have selected. They have indicated that they may include projects outside the sphere on their normal operations.

Kefta

[divinausa1] 06/1/2009 00:00

THE BOARD of Cape Lambert Iron Ore will meet as early as this week to consider a swag of potential acquisitions, including the assets of collapsed miner CopperCo and OZ Minerals

[the metal man] 05/1/2009 16:35

About time. If anyone offered me a £1 for every 50p I gave them? On the face of it, it's a no brainer. The only thing is, how long before enough people realise it, then have the confidence to step in. There will always be the question of future prospects in such a depressing environment but for now, cash is king and CLIO have it!

[wassapper] 05/1/2009 16:23

I bought in over the quiet Christmas period and am adding. We should see near 20p soon based upon cash alone.

[littlemadam] 05/1/2009 09:41

borders
As I say, wait just a few weeks more.
Up 13% in Aus and over 2.5m traded. Maybe some news leaked.
I think the next big thing might be a strategic investment.
CLIO does have enough cash to buy one of the banks!! - joking.

[bordersboy] 31/12/2008 08:49

this stock is in the worst 5 yr performers :(