CFE values its 2% royalty at 55m to 114m which is based on US$1 per tonne shipped. Why would you buy the royalty when you can buy EQX for a few dollars more.
http://www.asx.com.au/asxpdf/20130314/pdf/42dn3skn9g8yz4.pdf
Cape Lambert appoints Deutsche Bank AG to sell
Mayoko royalty
Key points:
? Global investment bank Deutsche Bank AG mandated to manage
sale of royalty for Mayoko Iron Ore Project in Republic of Congo.
? Internal valuation on royalty for the Mayoko Project of between A$55-114M.
? Subject to sale of royalty, Cape Lambert will consider a return to shareholders.
Australian resources and investment company, Cape Lambert Resources Limited (ASX: CFE) (“Cape Lambert” or the “Company”) is pleased to advise it has mandated Deutsche Bank AG to sell its royalty rights in respect to the
Mayoko Iron Ore Project, located in the Republic of Congo (“Mayoko Project”) and its intention, subject to the sale of this royalty, is to consider paying a special dividend to shareholders.
The Mayoko royalty right was acquired by Cape Lambert as part consideration when it sold its 100% interest in the Mayoko Project to African Iron Limited in January 2011, which was subsequently taken over by Exxaro Resources Ltd in
March 2012. The royalty is equal to US$1 per tonne for every tonne of iron ore shipped from the Mayoko Project (indexed annually to the CPI).
Based on the assumption the Mayoko Project will produce 2mtpa in 2015-16 and then 10mtpa from 2017 onwards and a life of mine of 30 years, Cape Lambert has an NPV value on this royalty of A$55m-A$114m.
Cape Lambert is confident it will be able to secure a buyer for its royalty in the Mayoko Project, based on interest in similar transactions for West African iron ore projects in recent years. In 2012, UK listed London Mining PLC received
US$110million from Blackrock World Mining Trust PLC for a 2% royalty on iron ore sales from its Marampa mine in Sierra Leone.
Cape Lambert Executive Chairman Tony Sage said “We think now is a perfect opportunity to achieve maximum value from this royalty, which would in turn allow us to deploy funds in other areas.”
“The sale of the royalty would allow the board to consider the payment of a special dividend to shareholders as per the Company model.”
Yours faithfully
Cape Lambert Resources Limited
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EQX
equatorial resources limited
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Last
17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $22.34M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 58210 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 33900 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 58210 | 0.150 |
2 | 110970 | 0.140 |
3 | 750000 | 0.130 |
1 | 9999 | 0.120 |
2 | 70000 | 0.100 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 33900 | 2 |
0.205 | 30000 | 1 |
0.250 | 50000 | 1 |
0.000 | 0 | 0 |
0.000 | 0 | 0 |
Last trade - 16.21pm 29/07/2025 (20 minute delay) ? |
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