According to online audit documents as at 31 March 2016, the three Solar Mining Services Pty Ltd directors held 26% indirect beneficial interests of its issued ordinary shares.

The holding company, Solar Overseas Netherlands Cooperative U.A. at the time held 74% of the company’s equity.

Solar Netherlands is a subsidiary of the Indian based Solar Group from where Solar Mining Services Middelburg, imports detonators for local distribution.

AEL Mining Services did a risk assessment on the Solar detonators and found them to be “substandard in assembly and packaging”. The AEL report subsequently led to AEL’s decision not to source detonators for mass distribution from Solar.

The report spread like wildfire in the explosives industry and a reliable sales source told the Observer that it made it very difficult to market the product and sign on new clients.

Solar Mining Services has three directors namely Desmond Pillay (South African), Suresh Menon (Indian) and Solar Group India’s Managing Director and CEO Manish Nuwal. At the time of the audit issue, the property, plant and equipment of Solar Middelburg were at R22 million, with a total share capital of R33 million, with a commitment “to several large contractual agreements”.