Ann: Stirling Minerals completes $96million place, page-2

re: Ann: Stirling Minerals completes $96milli... Stirling raises $96m for DMC purchase
AAP January 7, 2011, 12:36 pm


Cape Lambert Resources says it will complete the sale of its wholly owned subsidiary DMC Mining to Stirling Minerals within days, after Stirling Minerals successfully raised $96 million.

Cape Lambert will receive $47 million in cash, together with 120 million Stirling shares, or around 25 per cent of issued capital, and a production royalty of $1 per tonne of iron ore shipped.

Cape Lambert executives Tony Sage and Joe Ariti will join the board of Stirling Minerals once the transaction is completed on January 10.
At 12.30pm, shares in Cape Lambert were steady at 50 cents.

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