Ann: Trading Halt , page-2

Cape Lambert in trading halt over mine sale
AAP May 31, 2010, 8:05 am

Tony Sage's Cape Lambert Resources has entered a trading halt ahead of an announcement about the sale of its Lady Annie copper mine in Queensland.

On Friday shareholders of Hong Kong-listed China Sci-Tech Holdings approved the $135 million acquisition of the Lady Annie mine from Cape Lambert.

China Sci-Tech said in a statement that shareholders had overwhelmingly approved the acquisition of the Lady Annie mine.

Cape Lambert said earlier in May that it intended to make a return of eight to 10 cents per share to shareholders, following receipt of the sale funds.

Cape Lambert also plans to use some of the funds received to ramp up its drilling program at the Marampa iron ore project, and to start drill assessment of the Pinnacle assets, both located in Sierra Leone, West Africa.
Cape Lambert last traded at 40.5 cents.

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