Sentula Mining said on Friday that judgement has been obtained in the amount of R88.5 million plus costs against Casper Scharrighuisen in a civil action.
Sentula has been pursuing civil and criminal actions against individuals and entities implicated in fraud perpetrated during the 2008 financial year.
The first civil action involving a claim of R133 million commenced hearing on 25 November and a number of other civil actions will follow during the course of the 2012 financial year.
The criminal actions are being pursued by the prosecuting authorities, including the National Prosecuting Authority, it said.
In its first half results, released earlier this morning, Sentula highlighted that legal and forensic fees of R4.2 million associated with the recovery of funds misappropriated in the 2008 financial year had adversely impacted its earnings.
Shareholders will be kept updated on the progress of legal proceedings as they unfold, Sentula added.
Sentula reported headline earnings per share of 10.6 cents for the six months ended September from 9.6 cents a year ago.
Revenue increased 3% to R1.219 billion, while attributable profit grew 54% to R57.5 million.
Results from operating activities were slightly lower at R123.6 million from 2009's R125.6 million and net profit after tax increased by 115% to R53.9 million. - I-Net Bridge