Another mining company hijacked

[] — ANOTHER board of directors has sought relief from the courts after it found its mining investment company had been hijacked.

Private investment firm Ngwenda Gold – which holds gold prospecting rights in the Free State – has asked the South Gauteng High Court to reverse the “hijacking’ of its identity and assets through the falsification of Companies and Intellectual Property Registration Office (Cipro) records.

In court papers, Ngwenda Gold director Mashudi Nengwenda stated that first evidence of the hijacking came to light on Tuesday last week.

A subsequent investigation by Ngwenda Gold’s lawyers showed that, starting on January 8 this year, steps were taken to falsify Cipro’s records to reflect that Nengwenda and fellow directors Johannes Jansen and Thomas Mapengo had resigned their positions.

A certain Dennis Barnarnd van Kerrebroeck was then appointed as the sole director.

According to Nengwenda, Van Kerrebroeck is chairperson of De Sonneville International Limited, an investment company with which Ngwenda had considered doing business, prior to concluding another memorandum of understanding with an Australian-based company.

In terms of the memorandum of understanding the Australian group, Precious Prospect Trading 80, would have gained a 50% stake in Ngwenda Gold in exchange for the procurement of funding and technology for gold exploration and mining within the areas over which Ngwenda Gold has prospecting rights.

Ngwenda Gold is “a very valuable company with potential for gold resources in excess of 50 million ounces with an in-situ value in excess of R1bn’, Nengwenda said.

In 2010, Sandi Majali – now deceased – and four other accused were charged with the hijacking of Kalahari Resources, after removing Kalahari founder Daphne Mashile-Nkosi as director of the company by fraudulent means.