cape lambert project unveiled: mcc , page-7

Hi Davey,

Just my take.

Timis had some assets that he wanted to list. He's often been described as having a somewhat 'colourful' past and was having a good deal of difficulty in doing so, both here and overseas.

Sage agreed to allow a reverse takeover of a couple of very small companies (Global Iron & International Goldfieslds, now African Petroleum and International Petroleum) that CFE has a stake in. Sage was (is?, not sure) on the board of these companies. These companies are now capitalised at 930m and 280m (see latest presentation), although CFE's stake is now miniscule. Again, just my take on things, but it appears to be a case of 'you scratch my back...".

Timis may have a colourful past but in his defence, what he's brought to CFE has been all good to date. Also been doing a lot for the people of Sierra Leonne through the building of schools, hospitals etc.. God knows, they need a break, if you know the history. I'd be more than happy to also see CFE give a little of the proceeds back to the country when Marampa is sold. Call it karma or something.

Peter