Liberty Coal has unleashed a barrage of accusations, claiming that former CEO Mike Miller's leadership led to the decimation of Mantengu's business and a significant loss of shareholder value.
The rivalry between Liberty Coal and Mantengu Minerals Limited has continued to escalate following the recent resignation of Mantengu's former CEO, Mike Miller. Liberty Coal has unleashed a barrage of accusations, claiming that Miller's leadership led to the decimation of Mantengu's business and a significant loss of shareholder value.
The tensions have reached boiling point as Liberty Coal, previously known as Optimum Coal, seeks over R250 million in reputational damages through the Gauteng High Court, Pretoria. This legal action stems from allegations made by Mantengu Mining and Miller that have circulated across various media platforms, which Liberty Coal argues have caused irreparable harm to their image.
Central to the conflict is Mantengu's assertion that its share price was intentionally manipulated downwards by external syndicates in a bid to thwart its acquisition of Blue Ridge Platinum. However, Liberty Coal asserts its innocence, citing a recent statement from the Financial Sector Conduct Authority, which found "no evidence of share-price manipulation" regarding Mantengu’s shares.
