Cape Lambert Resources (ASX:CFE) enters 2017 remaining a fully funded, mineral development company with shares trading up 30% year to date to $0.017.
It has interests in several exploration and mining companies, providing exposure to iron ore, copper, gold, uranium, manganese, lithium and lead-silver-zinc assets in Australia, Asia, Europe, Africa and South America.
The company’s strategy is to acquire and invest in undervalued and/or distressed mineral assets and companies.
Cape Lambert aims to deliver shareholder value by adding value to these undeveloped projects.
The company had A$3.1 million in cash equivalents at the end of the December quarter.
Investment portfolio
Timis Mining Corporation Royalty
Cape Lambert will receive a royalty of US$2 per tonne of iron concentrate exported from the Timis Marampa Iron Ore Mine, which is payable on a quarterly basis.
The royalty of US$2 per tonne is payable on production of 24 million tonnes from the mine, which remains on care and maintenance.
Cape Lambert owns 15.26% of shares in European Lithium, which recently upgraded the resource at its 100%-owned Wolfsberg lithium project located in Austria.
Cauldron Energy (ASX: CXU)
Cape Lambert owns 16.3 6% of shares in Cauldron which has two project areas covering more than 4,500 square kilometres in two known uranium provinces in South Australia and Western Australia.
The company also has interests in:
- Marampa iron ore project (100%)
- Dempsey Resources (100%)
- Metal Exploration (Mauritius) Ltd (100%)
- Metals Exploration Cote D’Ivoire SA Ltd (100%); and
- Mining International Pty Ltd (100%).