They only made money if your in the pump and dump game as with...

They only made money if your in the pump and dump game as with all their ventures. With the iron plays what ever happened all the money million lent to mates/Timis ? I am just happy that they milking in another $1 million to bank account was getting a tad worried where their remmuneration was coming from, all good now for a while....

Remember this crack deal below there is also somewhat smarter out there.

Funding Agreement with Timis Mining Completes
Key Points:
 London Mining’s Administrator PWC has announced that the
sale of its Marampa Mine to Timis Mining has concluded.
 Cape Lambert will now receive US$2/t royalty for 4 years from
iron concentrate exported from Timis Mining’s Marampa mine.
 Royalty will provide an income stream to Cape Lambert of
potentially up to US$56 million over 4 years with the first
royalty cheque expected within the next 3 months.
Australian resource and investment company, Cape Lambert Resources
Limited (ASX:CFE) (Cape Lambert or the Company) is pleased to advise
that the acquisition by Timis Mining Corporation SL Limited and Timis Mining
Corporation Limited (collectively Timis Mining) of London Mining’s Marampa
Iron Ore Mine (Mine) from the administrator of London Mining PLC (London
Mining) has successfully concluded.
Cape Lambert recently announced that it had entered in to a $20 million
funding agreement with Timis Mining (Agreement) to assist it with the
acquisition of the Mine (refer ASX announcement dated 22 October 2014).
The Agreement was divided into two parts, being:
(a) US$8 million Bridging Finance repayable in 12 months and incurring
interest of 3 month US LIBOR (London interbank offered rate) + 6%;
and
(b) US$12 million for purchase of a royalty (Royalty Purchase).
Pursuant to the Royalty Purchase, Cape Lambert will now receive US$2 per
tonne of iron concentrate exported from the Mine (Royalty), payable on a
quarterly basis, which will commence at the next shipment of concentrate
from the Mine. The Royalty is payable over a four year period providing an
income stream to Cape Lambert of potentially up to $US56 million, with the
first payment expected within the next 3 months.
The Company also notes that Timis Mining has reached an agreement with
African Minerals Limited (AML) for access to its rail and port infrastructure for
6mtpa of the Mine’s iron concentrate, subject to completion of commercial
terms and regulatory approvals (refer AML announcement released 3
November 2014). This agreement will allow the Mine to operate at a lower
cost base and provide greater certainty for its continued successful operation.