Templar moves to build Gupta-owned Optimum mine

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Optimum mine. Picture: Archive
Optimum mine. Picture: Archive

BUSINESS

After winning majority support for the proposal to save embattled Gupta-owned Optimum Coal Mine, Daniel McGowan – director of the main company leading the business rescue proposal – is preparing to fend off a winding-up application that could see the business terminated prematurely.

This week, McGowan’s Templar Capital will begin putting the building blocks in place for a new Optimum, including a feasibility study, but there is still a legal risk that the business could be placed under liquidation during a court hearing that is scheduled to take place in the last week of next month.

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