[miningmx.com] – ZONDWA Mandela and Khulubuse Zuma took a “calculated risk” when buying the gold mines of Pamodzi Group, said the pair’s counsel in court on Tuesday, reported BDLive.
They are defending themselves against allegations by the Pamodzi liquidators that they acted recklessly and fraudulently in their botched attempt to buy the mines which include the East Rand and Orkney mines of Pamodzi.
The liquidators are hoping to ultimately recover about R1,5bn which they say was lost due to the actions of Aurora by asking the court to declare under section 424 of the Companies Act that the Aurora directors are personally liable for the company’s debts, said BDLive.
Click here to read the full article
