Botswana Court of Appeal rules in favor of Nova Africa in Mupane Gold Mine sale

The CoA judges criticized Ulsan Botswana, referring to them as a "grumpy loser intent on frustrating the liquidation process." The legal battle began last year after creditors approved the sale of the mine to Nova Africa for $21 million. Ulsan Botswana, a rival bidder, had offered an upfront $500,000 and up to P10 million pending further assessment.

Ulsan had secured an interdict in October, citing technical irregularities in the award to Nova. The CoA bench upheld the appeal filed by the liquidator, Kopanang Thekiso, and Nova Africa, and set aside the interim interdict with costs.