WEDNESDAY, 1.30PM:
AMALIA Gold Mining and Exploration Company was placed under liquidation on Tuesday, in an action initiated by Standard Bank, which is owed R6,8-million by Amalia.
Various other creditors include Diners Club, Stannic, MDM (the company that built Amalia’s gold plant), Haptics and former legal counsel Andre Thomashausen.
Amalia’s shares lost 90% of their value over the last year, before their trade was suspended last week. The company’s only operating asset has been an underperforming gold mine in North-West Province. Amalia financial director Peter Trickey is the subject of a fraud and theft investigation by Johannesburg police.