CAPITAL MARKETS

Cape Lambert takes majority of Pinnacle

TONY Sage's Cape Lambert Resources is paying $A65.3 million for a further 42.8% of Pinnacle Group Assets, taking its stake in the Sierra Leone iron ore explorer to 90.2%.

Kristie Batten
Cape Lambert takes majority of Pinnacle

Cape Lambert has paid $16.3 million cash and $32.6 million in Cape Lambert shares (at 60c per share) up front and will pay a further $16.3 million in cash before December 31, 2011. Cape Lambert is...

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