Cyclone Metals

Cape Lambert Resources has deferred listing its Marampa iron ore project on the London Alternative Investment Market (AIM) until later this year, citing the volatile nature of world capital markets.

The Metallurgical Corporation of China has been ordered to set aside $80 million owed to Cape Lambert Resources over the sale of a Pilbara magnetite project in 2008.

Tony Sage’s Cape Lambert Resources has become lithium miner Global Strategic Metals’ cornerstone investor, subscribing for a 19.8 per cent interest in the Perth-based exploration company.

WITH some experienced campaigners suggesting the current mergers and acquisitions market is the worst they have ever seen, there is plenty of finger pointing to overly exuberant deals of the past few years as the reason for reluctance in the current environment.

A dispute between Cape Lambert Resources and the Metallurgical Corporation of China over an $80 million payment stemming from the 2008 sale of a magnetite project near Karratha has been referred to arbitration in Singapore.

Cape Lambert Resources has agreed to pay the Australian Taxation Office $33 million as a provisional settlement for a dispute over $96 million in back taxes and penalties.

Shares in Cape Lambert Resources gained 10 per cent on the ASX today, after the company announced a plan to buy back 10 per cent of its shares.Cape Lambert said it had appointed Canaccord Genuity to act as broker for the on-market buy-back.

Cape Lambert Resources has appointed international finance group Deutsche Bank to sell its royalty held over the Mayoko iron ore project in the Republic of Congo.

Cape Lambert Resources is considering the sale of its suite of assets, including the advanced-stage Marampa iron ore project in Sierra Leone.

Tony Sage’s Cape Lambert Resources has lined up a new agreement to sell its Leichhardt copper project in Queensland for $14.75 million, after the original $25 million proposal fell over.

Prominent Perth business identity Tony Sage has continued to scale back his commitments, today announcing his resignation from oil and gas explorers African Petroleum and International Petroleum, following his retirement from International Goldfields late last week.

Metallurgical Corporation of China has been ordered by a Singapore-based arbitrator to place $80 million into an escrow account pending the determination of a dispute with Cape Lambert Resources over the 2008 sale of the Perth company’s namesake iron ore project.

Eight Western Australia-based resources sector firms have been removed from the list of Australia's top 300 companies, providing further evidence that the slowdown in mining activity is hurting WA stocks.

Shares in West Leederville-based Glory Resources have soared on the back of the gold explorer receiving a $30.5 million friendly takeover offer from Canadian miner Eldorado Gold.

Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.

Cape Lambert has reached a settlement with the Australian Tax Office regarding its $96 million tax dispute, agreeing to make a final net payment of $2.4 million.

Exploration and development company Cape Lambert has announced it will return almost $25 million to shareholders, just a week after a successful settlement with the Australian Tax Office.

Cape Lambert Resources says it will provide $US20 million through a financing agreement to Timis Mining Corporation to help fund its acquisition of the collapsed London Mining’s Marampa mine assets.

Perth-based mining developer Cape Lambert Resources has announced it is cutting 117 jobs and postponing a planned dividend payment, in response to the sharp downturn in the iron ore market.

UPDATE: Perth Glory denies it has breached the salary cap and is considering its legal options, after it was banned from this year's A-League finals series over allegations it overpaid its players for the past three years.

Perth-based Cape Lambert Resources has told the market that its investments in Timis Mining and African Minerals have hit roadblocks.

SPECIAL REPORT: Perth’s fashion sector is gradually making its mark by developing niche opportunities, despite growing international competition.

Tony Sage’s Cape Lambert Resources has announced plans to undertake its first capital raising since its initial offer, which was completed when the company listed on the ASX 16 years ago.

The corporate watchdog has moved to have McGrathNicol appointed as liquidator to Peter Landau’s troubled listed coal mining company Continental Coal.

Subiaco-based Paynes Find Gold is seeking to become a lithium miner through the reverse takeover and backdoor listing of a European mining company backed by local businessman Tony Sage.

Cape Lambert Resources Limited has sold its royalty on the Mayoko iron ore project for $1 million cash subject to the formality of the new owners signing off on the transaction.Gascoyne Resources has raised $50 million through a placement at an issue price of 50 cents a share.

Pancontinental Oil & Gas NL has successfully completed the acquisition of 100% of the shares of Bombora Natural Energy Pty Ltd.

Emerging Western Australian nickel company St George Mining is pleased to announce it has successfully raised $4.0 million from institutional and sophisticated investors via a placement at an issue price of $0.18 per share. 

MMJ PhytoTech has invested CAD$0.15m for a 2.5% shareholding in privately-held Embark Health Inc as part of their CAD$1m seed funding round. 

A summary of last week's smaller deals that did not get included in our daily news coverage.

Matt Callahan has re-joined the board of Botanix Pharmaceuticals as an executive director following the decision by Robert Towner to step down as non-executive director.

Our board moves wrap includes Sarah Smith, Terry Donnelly, Mark Hancock, Tony Sage, N Baijendra Kumar, Fiona van Maanen, Michael Jefferies, Trevor Benson, Francis Lim, Hao Wen, and Wing Kee Cheng.

Our board moves wrap includes William Scott, Jeremy Ryan, Nathan Bartrop, Tony Swiericzuk, Judson Lorkin, Alan Cransberg, and Wayne Osborn.

Our board moves wrap includes Stirling Ross, Lloyd Flint, Jonathan Shellabear, Robert Martin, Hugh Callaghan, and Carolina Arecco.

Our board moves wrap includes Karl Page, Andre Douchane, Ramon Soares, Mark Stowell, Donald Strang, Catherine Grant-Edwards, Melissa Chapman, and Barry Woodhouse.

Our board moves wrap includes Chris Radin, Sheila Khama, Stirling Ross, Gerry Kaczmarek, Tony Kiernan, Derek Humphry, Dale Richards, Nerida Schmidt, Patricia Farr, Simon Robertson, Susan Park, Peter Webse, ChongTao Xu, Andrew Taplin, Carol Marinkovich, Rowan Harland, Arron Canicais, David Lim, Andrew Woskett, Benjamin Donovan, and Shaun Menezes.

Our board moves wrap includes Peter George, Paul Berend, Tony Sage, Terry Donnelly, Mark Potter, Ross Cotton, and Nicholas Ong.