The claim relates to an undertaking Kebble had given to pay DRDGOLD an option fee for warehousing shares which DRDGOLD acquired as part of Project Eagle, JCI Gold’s unsuccessful endeavour to incorporate Randfontein Estates Gold Mine into Western Areas. DRDGOLD instituted proceedings when JCI/CAM, after paying a small portion of the fee, refused to pay the balance of the claim.
JCI/CAM's counterclaim to recover the earlier part-payment was also dismissed with costs.
In his summation, Judge Goldblatt called JCI/CAM's evidence on the accounting treatment of DRDGOLD's claim, which accrued over some 14 months, "nonsense" and a "deliberate lie". He also dismissed as "manifestly false", JCI/CAM's contention that the earlier payment to DRDGOLD was made under the mistaken belief that it was due.
DRDGOLD CEO Ian Murray said: “This outcome vindicates the DRDGOLD Board’s decision to pursue the recovery of shareholder funds in related party transactions.”
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DRDGOLD has primary listings on the Johannesburg (JSE:DRD) and Australian (ASX:DRD) stock exchanges and secondary listings on NASDAQ (DROOY), the London Stock Exchange and the Paris and Brussels Bourses. Its shares are also traded on the regulated unofficial market of the Frankfurt Stock Exchange and the Berlin OTC Market. For more information, please visit www.drdgold.com
Cautionary note to US investors: the United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use the term "resources" (which includes "measured", "indicated", and "inferred") in our media releases, which the SEC guidelines strictly prohibit us from including in our filing with the SEC. US investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-28800, available from us at 45 Empire Road, Parktown, Johannesburg, 2193, South Africa. You can also obtain this form from the SEC website at https://www.sec.gov/edgar.shtml
121 Mining Investment Dubai 19 November 2024 (PDF - 6.8 MB)
Results for the six months ended 31 December 2023 (PDF - 34.46 MB)
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