(1)What (a) was the initial loan amount given to Oakbay Resources and Energy by the Industrial Development Corporation (IDC) to fund the purchase of the Shiva uranium mine, (b) amount of the specified loan plus accrued interest was paid back to the IDC before the remainder of the loan was converted into equity and (c) were the reasons for the IDC registering a (i) mortgage bond to the value of R250 million and (ii) general bond to the value of R 250 million over the specified mine’s assets;
(2) was any further consideration given to the specified mine for the specified bonds; if not, why not; if so, what are the relevant details;
(3) whether any steps have been taken by the IDC to protect its interest in its investment(s) in the specified mine, such as acquiring a director for the board; if not, why not; if so, what are the relevant details;
(4) (a) what was the final amount converted to equity of the loan given by the IDC to Oakbay Resources and Energy to purchase the Shiva mine, (b) how did the IDC determine the value for the shareholding percentage of the converted equity and (c) what residual amount remains owing to the IDC after the specified loan was converted to equity;
(5) whether the IDC granted any other loans to (a) Oakbay Resources and Energy, (b) any other Oakbay Investments entity and/or (c) any other company linked to the Gupta family; if so, what are the relevant details in each case?NW1794E