CLE 0.00% 0.1¢ cyclone metals limited

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  1. 262 Posts.
    See http://www.capelam.com.au/irm/Company/ShowPage.aspx/PDFs/3153-17789083/CanaccordMayokoRoyaltyGetsCloser


    SPECULATIVE BUY
    Target: A$0.35

    "Investment Perspective
    Another of Cape Lambert Resources’ (CFE) investments is progressing
    to maturity with the granting of the Mining Convention for the Mayoko
    Iron ore project in the Republic of Congo (aka Congo Brazzaville). CFE
    owns a US$1/t royalty on the project which could be producing 5Mtpa as
    early as 2H’15. CFE has made no secret of its intention to sell the
    royalty, which could inject US$30-US$50m. CFE is also set to receive
    an A$13m payment from the takeover of Glory Resources (ASX:GLY|
    not rated), a $6.5m payment for the sale of the Leichhardt copper
    project, and it continues its recovery actions of the final A$80m payment
    relating to the sale of the Cape Lambert project in 2008. Adding the
    above cash receipts to the possible sale of the Marampa Iron ore project
    and CFE has the potential to have multiples of its mark"

 
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