MELBOURNE (Dow Jones)--Cape Lambert Resources Ltd. (CFE.AU) has sold its Lady Annie copper mine to an Asian buyer for about A$150 million, a person familiar with the situation said Thursday.
The company requested a trading halt in its shares Thursday ahead of an announcement on a trade sale of the mine in Queensland state.
The person said the buyer is Asian and the sale price is in the same ballpark as the A$150 million outlined by Executive Chairman Tony Sage in previous comments.
The Perth-based miner pulled a planned float of the mine on the Australian exchange in February, citing adverse market conditions, and Sage said at the time he had received approaches from Chinese and Indian buyers interested in the mine.
-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; [email protected]
Cheers
DPH
good news coming!, page-18
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