Cape Lambert Resources Ltd is an exploration and development company. The Marampa Iron Ore Project (Marampa or Marampa Project) is a brownfields hematite iron ore project at the feasibility assessment stage located 90 kilometers northeast of Freetown, Sierra Leone, West Africa. The assets of Pinnacle Group Assets Limited (Pinnacle) include the Kukuna Iron Ore Project located in Sierra Leone (Kukuna Project or Kukuna) and the Sandenia Iron Ore Project located in the Republic of Guinea (Sandenia Project or Sandenia). Metal Exploration (Mauritius) Limited, a wholly owned subsidiary of the Company, holds a land package of granted licenses and applications in Sierra Leone totaling approximately 3,000 square kilometers. Australis holds a portfolio of mineral rights, tenements and subsidiaries. On September 9, 2011, it acquired the remaining 9.8% of Pinnacle. On December 17, 2011, it sold the Sappes Gold Project (Sappes) to Glory Resources Limited (GLY).