Cape Lambert Shares Fall 24 Percent in Sydney Trading

May 5 (Bloomberg) -- Cape Lambert Resources Ltd. declined as much as 24 percent in Sydney trading after a report by the Australian newspaper that it was cancelling all planned exploration in Australia because of uncertainty created by the proposed 40 percent tax on resource profits.

Link to Company News:{CFE AU <Equity> CN <GO>}

To contact the reporter on this story: Rebecca Keenan in Melbourne at rkeenan5@bloomberg.net

To contact the editor responsible for this story: Robert Fenner at rfenner@bloomberg.net