Ann: Cape Lambert Finalises the Joint Venture Agreement, page-37

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trumpy71

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04/05/17

12:01

Post #: 24467073
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Originally posted by Nanday ↑

I have been a holder since 2013. I have lost 90% of my initial investment. Or rather I should say, the directors of this company lost it on my behalf.

I have been reading this thread and wanted to jump in and tell new investors to be careful. You have worked hard for your money. In their own words (right off the etrade webside company overview), this is what the company does.

"Cape Lambert Resources Ltd (CFE) is a mineral develop [sic] and exploration company with a geographically diverse portfolio of mineral assets and interests in a number of exploration companies. Through its investments, CFE has exposure to iron ore, copper, gold, uranium, phosphate, lead silver zinc and vanadium assets in Australia, Africa, Greece and South America."

Firstly, this is a broad description that covers just about anything and everything. Secondly, the words 'develop' and 'exploration' are critical. They don't plan to hold this company. History repeats and their stated plan to find and develop - then flip - mines is not new. During the mining boom years, they did well enough with this but now that the boom has turned to bust (or normal), they have been struggling to find takers to whom they can onsell. They are not in the business of staying the course and seeing a mine into profitable production.

Be careful. That's all I am saying. History really does repeat.

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Well put Nanday, this is how these and other similar operators make money. Very few of these ventures ever get to the production stage.

CFE Price at posting: 2.4¢ Sentiment: Sell Disclosure: Not Held
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Ann: Cape Lambert Finalises the Joint Venture Agreement, page-37

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