noble idea

This from The West Australian newspaper today in the business section's Heard on the Terrace:

Noble X2 Idea

Richard Elman's Hong Kong commodities trade Noble House has been busy of late.
This week it ageed to a $20 million convertible note investment in George Jones' iron ore hopeful Sundance Resources, which is seeking a partner to develop its massive but complex Mbalam venture straddling the Cameroon-Republic of Congo border.

Maybe another of Elman's new investments could lend a helping hand. Just a month ago Elman said Noble had agreed to pump US$500 million into former Xstrata boss Mick Davis' new mining venture, X2 partners.

Stacked with ex-Xstrata people, X2 will know a bit or two about operating in West Africa. In fact, one of Xstrata's big portfolio weaknesses was its lack of iron ore, at a time when the sector poster children BHP Billiton and Rio Tinto were generating stupdendous amounts of cash from the steel ingredient.

Cold Sundance be Davis'' chance to finally join the iron ore bandwagon? Food for thought.

This is going to get better and better imo,

Cheers J