Central Rand GoldLtd. said April 11 that High Court of South Africa upheld its appealrelated to the Supreme Court's February 2015 judgment in a dispute with
The High Court awarded a cost order in favor of the company,and the matter will now be referred back to the Supreme Court to fully considerthe facts of the funding dispute.
In 2007, a dispute arose between Central Rand and Puno Gold,in their capacity as shareholders of Central Rand Gold South Africa, or CRGSA, inregard to the allocation of intercompany loans.
In February 2009, Central Rand Gold Netherlands Antilles, orCRGNV, the direct holding company of CRGSA, exercised its call option and gave Puno90 days' notice to acquire Puno's entire interest in CRGSA, prompting Puno to makean urgent application to the South Gauteng Division of the High Court of South Africato interdict CRGNV from proceeding with the call.