Mineral Investment company, Cape Lambert Resources Ltd
(ASX:CFE) has disposed of non-core shareholdings included in the CopperCo transaction for $27.7 million dollars.
The three companies include Platmin Limited, Herencia Resources plc and Charaat Gold Holdings Ltd.
The funds will be applied to acquisition opportunities and the development of the company’s existing projects in the portfolio.
Cape Lambert Chairman, Tony Sage says the company disposed of the shareholdings to simplify the corporate structure and increase cash reserves.
Cape Lambert also says it has increased its stake in Pinnacle Group Assets from 26.2% to 35% at no cost.
For fiscal 2009 Cape Lambert Resources reported a profit of $229 million.
