Cape Lambert has wrapped up the biggest resources float of the...

Cape Lambert has wrapped up the biggest resources float of the year, with Q Copper's oversubscribed initial public offering evidence that investor appetite has well and truly returned to the sector.

The Tony Sage-led Cape Lambert entered a trading halt yesterday to allow it to complete the float of the Lady Annie copper mine, picked up from the administrators of collapsed miner CopperCo earlier this year.

Cape Lambert's directors were unavailable for comment last night but it is understood the $1-a-share IPO was oversubscribed.

However, it is expected to cap subscriptions at the lower end of its $204 million to $214 million target range to ensure after-market support when it hits the boards on December 21.

It will be capitalised at $225 million.


sh.. my money