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Cape Lambert Resources in trading halt ahead of major financing facility

The pending news could be a major catalyst for the company.

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Shares in the company last traded at 1 cent before going into halt

Cape Lambert Resources Ltd (ASX:CFE) has been granted a trading halt by the ASX pending the release of information regarding a major financing facility as well as a US$500,000 payment.

The US$500,000 payment is to La Patience SPRL and is related to the company’s Kipushi Cobalt-Copper Tailings Project.

Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trading on Wednesday 29 May 2019.

READ: Cape Lambert Resources maiden resource has contained metal value close to $1 billion

Cape Lambert aims to reprocess cobalt-copper tailings contained in the Kipushi Tailings Storage Facility (Kipushi TSF).

Earlier this month, a maiden JORC resource was estimated over about half of the Kipushi TSF.

The maiden copper-cobalt tailings resource amounts to 2.3 million tonnes at 0.33% cobalt and 1.0% copper.

Quick facts: Cape Lambert Resources Limited

Price: 0.004 AUD

ASX:CFE
Market: ASX
Market Cap: $4.42 m
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Cape Lambert Resources posts maiden JORC resource for Kipushi Cobalt-Copper...

Cape Lambert Resources Ltd (ASX:CFE) executive director Tony Sage updates Proactive Investors on the company's maiden JORC-compliant resource for its Kipushi Tailings Project in the Democratic Republic of Congo.   Sage says the maiden resource "validates" the company's entry into...

on 8/5/19

2 min read