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clock Created with Sketch. 30/07/22
22:11
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Originally posted by NavyGulf
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In actual fact both Mintails and DRD surrendered some of there tenement areas and those areas became WWI. WWI actually sold some of there tenement area back to Mintails for $9 million back in 2010/2011 or 2012 and that money was spent building the airport / runway at Derewo. While WWI was focused on Derewo the mines dept in SA were going to cancel the tenements WWI owned in South Africa. By then Derewo was failing and it was a perfect storm where WWI came close to bankruptcy but luckily they had no debt, they went to court to fight for the tenement in SA and won. It was during there case to keep the SA tenement that they were told about or became aware of an old shed that contained old drilling records on thei tenement. On inspection they realized that where infastructure was originally built but no longer existed, those areas had not been mined for the gold. After Mintails went into administration, the authorities tried to put blame onto WWI for the mess left on the area Mintails had bought from WWI in 2011/2012 because the area was still in WWI's name. When WWI looked into it further Mintails had submitted the paperwork to transfer ownership to Mintails but once Mintails knew they were in trouble they went to the mines department and requested the transfer paperwork back without WWI's knowledge. Mintails had technically committed fraud I think in the hope WWI would get the blame and have to clean there mess up. They were worrying days for me and the board and i really thought i would loose my investment in WWI which by then was well over $100,000.
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Thanks for the insight.. agree MQ and jac both deserve the best. They r tough guys and they knows we r at a stage of no return. This is moving forward l,
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