News: Cape Lambert plans London listing , page-15

"
It's not a great time to be attempting a float but I wouldn't be too unhappy if CFE changed tack and went into production perhaps with a significant cornerstone Chinese investment."

Peter,
I suspect TS will be forced to do this to get the return he wants. Finding Fe in West Africa isn't that hard or a rare occurrence though I admit finding it handy to developed infrastructure is. The real risk is in the long term mining with continual exposure to the very real sovereign risk. Why would a company give huge rewards (by paying $500m) to the party that takes on little risk (stumbles on some Fe in WA) & leave little upside to themselves as the party that takes on the huge risk (exposure to sovereign risk for decades)?

If CFE go the AMI route & put the mine into production there will be the opportunity to make a handsome return by JV / Cornerstone Investor / Offtake Agreement etc. I think TS has already found, what FT knew all along, that nobody is going to do cartwheels & throw you bucketloads of cash just because you've stumbled onto some FE in West Africa, which is why he is now talking about floats & advertising for mining managers to work in SL.