re: Ann: CFE's CopperCo Earnings to excee... SAGE ADVICE.You...

re: Ann: CFE's CopperCo Earnings to excee... SAGE ADVICE.

You don't have to mine anything to make money in the resources sector.

Wild west wheeler and dealer Tony Sage is doing nicely from his purchase of failed CopperCo's assets in June 2009.

Sage's Cape Lambert paid $135 million for CopperCo, which fell over as the global financial crisis hit just as it was getting its Lady Annie copper mine north west of Mt Isa into production.

Cape Lambert, in May 2010 on sold Lady Annie to the Hong Kong-listed China Sci-Tech Holdings for $130 million.

Now it has just agreed to sell CopperCo 25 per cent of the Lady Loretta lead-zinc-silver deposit to Xstrata.

Cape Lambert will get $30 million for the Lady Loretta stake when the sale settles.

Cape Lambert has also unloaded some smaller CopperCo assets, meaning Sage has so far pocketed "approximately $205 million, for a staggering 52 per cent return to date on our initial investment," Sage says with some glee.

And he reckons there's about $80 million in assets to go.

http://www.couriermail.com.au/ipad/city-beat-changing-lines/story-fn6ck2gb-1226003217789