Havent seen the ad, but noticed an update on the IPO with...

Havent seen the ad, but noticed an update on the IPO with proactiveinvestors today as below link:

(http://www.proactiveinvestors.co.uk/columns/fairfax-i-s/8032/fairfax-marketing-report-including-discovery-metals-goldplat-firestone-diamonds-medusa-mining-plus-others-8032.html)

"Cape Lambert (ASX:CFE) – Plans A$500m Iron Ore IPO
· The company has earmarked the Marampa Iron Ore project in Sierra Leone for sale.
· The project has a JORC resource of 680 Mt at 28.2% Fe over four deposits.
· The project is at the scoping study stage which has looked at a 10 mtpa concentrate operation.
· Feasibility and permitting has commenced with a total exploration target of 0.7 – 1.0 Bt of 25-35% Fe.
· The project has rail and port access of 5 mtpa with an additional 5 mtpa access in progress.
Conclusion: Cape Lambert appears to be realising value from its iron ore assets – the company will have a cash flow of A$72.2m from its stake in African Iron following the takeover from Exxaro.
Following the set back in the second half of last year, the market/interest in the iron ore sector has revived as prices still remain relatively high generating good cash flows for iron ore producers and high NPVs on iron ore projects.
The West African Iron ore landscape appears to be building momentum with projects from the larger players coming into fruition as well as juniors such as London Mining and African Minerals getting into production. This combined with the bid for African Iron should attract further interest in the sector."


Kasper