marampa

Royalty Holder……….Cape Lambert
Revenue……………..…..…………….$12m
Mine Life...………………………………..n.a.
Commodity……………………….Iron Ore
Operator……………………Timis Mining

#13 Marampa

Perth football club owner Tony Sage recently upped his stake in Cape Lambert Resources to 11.6 per cent. And well he might.

Cape Lambert, which counts Sage as its chairman, is an investment holding company. In October last year it paid $12m for a $2 per tonne royalty over the Marampa iron ore mine in Sierra Leone, after the operation passed from London Mining to Sage's longstanding business associate, Frank Timis.

Timis plans to mine 5.9m tonnes at Marampa this year, with receipts to Cape Lambert of $2.6m for the March quarter. The royalty was originally capped at 4 years, but has since been revised to a ceiling of 24m tonnes, anchoring an impressive return for Cape Lambert that far exceeds the company's A$12m ($8m) market cap.

 

 

BACK                                               NEXT >