MET1 et al. Best proposal, and delivers justice for all.10 Apr 2026 10:01
Hopefully the judges will see that lions Bay and MET1 et al. are best proposal and unlike vantage want to deliver justice for all, and have put a lot into it . not just STALINGRAD LITIGATION which VANTAGE WAS ACCUSED OF by ACTIONSA
Vertically Integrated Model: Unlike traditional standalone mining, Lions Bay aims to link the mines to a cogeneration power plant in Newcastle, South Africa. This plant is designed to provide cheap, reliable power and steam to the mining operations.
Gold Roasting Complex: The plan includes reconfiguring the power plant into a regional gold roasting complex by Q4 2026. This would allow the mine to process complex refractory gold concentrates locally rather than exporting them to Asian smelters at a high cost.
Infrastructure Recovery: LBR claims to have already invested in protecting the mine's assets by paying for site security for several months to prevent further degradation while the legal process continues.
Resource Potential: The acquisition target includes mining leases with a historical resource of 4.5 million ounces of gold, a central metallurgical complex, and extensive existing underground development
For the Families: The families of the victims have expressed a decade-long sense of betrayal by both the government and current mine management. Any proposal that successfully retrieves the container would be seen as the ultimate "positive outcome." LBR has made this a central pillar of their pitch.
For the Community: A positive outcome requires the mine to restart. LBR claims a "breakthrough" with creditor meetings scheduled for April 9, 2026. However, Vantage Goldfields has sought High Court orders to stop these meetings, arguing that LBR only has approval from one of two required BRPs.
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