Hello Vaughn:
You're right...The "Golddigger" lawyer is at it again... However, the recent "BUY" recommendation by investment houses has already discounted the value of the M1 pipe, until the court case is resolved. It seems more and more certain to me that this lawyer is, in fact, taking on the S.A. govt because he is challenging the validity of the Mining Act, and several sections in it (which the Minister used to grant the permit to Randgold/SUF), in effect arguing that regardless of the law (the Mining Act), the new constitution overrides everything else. That, to me, seems a rather thin and weak argument because it would mean that ALL mineral rights granted by the Minister since the new constitution was enacted would also become nul and void and would cause chaos in the country's mineral development and foreign investment at a critical time when SA needs both in order to provide employment to its citizens.
IMHO, the lawyer is playing games -- he is hoping to get the lion's share of the 980,000Rand now in trust, or he will get paid by the heirs he seems to have convinced to take on the govt. Either way he will get paid.... Its better than playing the stock market...
Regards. Goalie. |
