Just lifted this from CFE forum hope Brenden dos'nt mind,looks...

Just lifted this from CFE forum hope Brenden dos'nt mind,looks like we'll have to keep looking over our shoulders already!

REBECCA LE MAY
April 8, 2010 - 5:34PM



AAP

Cape Lambert Resources Ltd is eyeing an increased stake in junior explorer Fe Ltd and has not ruled out a full takeover at some time.

The comment by Tony Sage, chairman of both Cape Lambert and Fe, came as Cape Lambert progresses its $40 million takeover bid for DMC Mining Ltd.

Mr Sage said he particularly liked Fe, which is 17.5 per cent held by Cape Lambert.

He said Fe, formerly Buka Gold Ltd, was drilling a large high-quality hematite iron ore target in Western Australia.

When asked if Cape Lambert would consider lifting its stake in Fe or eventually launching a takeover, Mr Sage said Cape Lambert would "definitely have a bigger interest" if Fe defined a 250 million tonne resource at its WA project.

"It's a fantastic little company ... and could be a great mid-west iron ore miner in two or three years time," he told AAP on Thursday.

"It's a favourite of ours.

"In just five months, we did a raising, we did a vend of some assets ... and we've turned a company that was trading at four cents to 14 cents."