See...

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"