I tried R3B's suggestion first as I was almost there with what I already had. Hooking the loop cable under the throttle cable kept the loop cable in place and there are no more significant concerns of the cable catching on the lower tang. Here's a picture of how I hooked it under:
Unfortunately, I am going to have to put this project on hold for the next two weeks as shortly I am going away for a holiday to WA. Nonetheless, I reckon I'm getting reasonably close to a prototype solution that I hope to be testing out on the road not long after I get back. Thanks everyone for the interest and the help in this project.