Mineral investment company Cape Lambert Resources (ASX:CFE) is ready to sell its Marampa iron ore project.
Managing director Tony Sage told media in Hong Kong that there are at least three or four companies in the data room, and he expects the sale to happen as soon as the market sees some recovery.
He told the Finance News Network last month that the resource, in Sierra Leone, has a 30 to 40 year mine life and has the advantage of being a hematite rather than magnetite deposit.
He says the company could spin off the asset on London’s AIM exchange early next year.
Cape Lambert Resources (ASX:CFE) reported a loss of $11.8 million in the year to June.
