Our team

Avatar Investments Limited consists of a team of competent, committed and experienced consultants each a specialist in his field.

Dr. Adrian Durrant PrEng, BSc, PhD, FRGS


Adrian is a Director of Avatar Investments Ltd, that has a close network of trusted associates with expertise and proven experience in technical, business and investment projects, worldwide. He has known and worked with his co-director at Avatar, Martin Sanderson, for over 25 years.


Adrian has lived and worked in the UK, India, Africa, Australia, Holland, the US, Germany, Spain and Italy. He holds a doctorate in engineering, and was registered as a professional engineer (PrEng) in 1993. His experience covers large-scale civil infrastructure projects, energy, natural resources, business and financial services.


For a number of years Adrian consulted to Martin Sanderson, who was the then Managing Director of the Aircraft Operating Company. In this role Adrian advised on the mapping and evaluation of property, mineral asset and civil infrastructure of a number of African countries, deploying airborne surveying techniques and geographical information systems. He was elected a Fellow of the Royal Geographical Society (FRGS), London, in 1989.


In addition to engineering, Adrian has international business performance improvement experience with KPMG Management Consulting and has also worked in offshore financial services; having raised in excess of USD500 million in investment capital, and advised on an investment portfolio of some USD2 billion.


Adrian is a part-time lecturer in energy engineering, turbomachinery and business at the University of Suffolk. In addition to the above, he provides hands-on troubleshooting services to the power generation industry, worldwide. In this capacity he has worked at the first site in the UK to be awarded a fracking licence.





B Com (Law), B Compt (Hons), LLB, CTA,

H Dip Auditing, Chartered Accountant (SA)


Danie is a Founder and Associate of Avatar Investment Limited and was adviser to Martin Sanderson in the sale of his company’s shares to the AAM Group, Australia, in 2007 and met with Adrian Durrant when he visited Johannesburg in 2011. In 2013 they founded Avatar Investments Limited, and remain close associates.


Danie specialises in local and inward listings on the JSE Limited, mergers and acquisitions, valuations and raising capital in the form of listed equity and senior debt. In this context, he specialises in optimising the business value by way of optimising the weighted average cost of capital, through the various business cycles, with the aim of maximising equity value.


  • University qualifications:

B Com (Law), B Compt (Hons), LLB, CTA and Higher Diploma in Auditing


  • Professional qualifications:
  • Registered as a Chartered Accountant of South Africa in 1999 (active member of SAICA)
  • Admitted as an attorney of the Supreme Court of SA in 1995 (not currently practising an attorney)
  • Formerly a JSE Limited approved sponsor executive, for more than a decade.


  • Corporate finance work experience:

Danie has approximately 17 years’ experience in corporate finance with a focus on advising JSE Limited listed companies. He started in PwC audit, then moved to PwC Transaction Support services, then PwC Corporate Finance, seconded by PwC to the JSE. Following Danie’s return to PwC he founded his own company in a joint venture with BDO Spencer Steward. This legal entity had operated under different names over the years namely BDO QuestCo, QuestCo Sponsors and DEA-RU.


Selection of notable transactions undertaken by Danie

The table below contains a selection summary of corporate finance transactions that Danie has advised on since he founded his own business in 2004. Please note that the list is provided by way of examples, and is not exhaustive. More detailed information available on request.


SAFARI Investments -            2013 – 2017               R1.3 billion      US$ 100 million

TRUSTCO                              2009 -  2015                R250 million    US$   20 million

ELB Group                              2006 - 2016                             Adviser

ACCELERATE Properties      2012 - 2013                 R4.9 billion      US$ 375 million

CAPITEC Bank                      2010 - 2012                 R2.0 billion      US$ 150 million

O-Line Holdings Limited         2007 - 2012                 R130 million    US$   10 million

MUVONI Technology Group  2007 - 2013                 R30 million      US$     2 million

CURRO Holdings                   2011 – 2012                R460 million    US$   35 million

IFA Hotels & Resorts              2005 - 2013                             Adviser

PIONEER FOODS                 2011 - 2012                 R2.0 billion      US$ 154 million

METMAR Limited                   2006 - 2012                 R70 million      US$     5 million

CAPEVIN Holdings Limited    2010;  2012                 R7.5 billion      US$ 575 million

KAAP AGRI Limited               2011                                        Adviser

ASSUPOL Life                       2010                            R1.0 billion      US$   77 million

INSIMBI Alloys Limited           2009                            R50 million      US$     4 million

ZELDA Investments Limited   2006 - 2009                 R2.46 billion    US$ 190 million

PALADIN Capital                    2009 - 2011                             Adviser

CIC/Imperial Limited               2007 - 2010                             Adviser

CHEMSPEC Limited              2007 - 2010                 R230 million    US$  18 million

RACEC Group Limited           2007                                        Adviser

ERBACON Group Limited     2007 - 2009                             Adviser

SIYATENGA Property Fund  2007 - 2010                 R505 million    US$  40 million

IQUAD Group Limited                        2010                                        Adviser

PSG Group Limited                2005 - 2008                             Adviser

iFOUR Properties Limited      2004 - 2006                 R450 million    US$  34 million

TOP-FIX Holdings Limited      2012                                        Adviser

CULLINAN Holdings Ltd         2012                                        Adviser              

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Martin Sanderson

Airborne Exploration Consultant


Martin is a Director of Avatar Investments Ltd, and has known and worked with his co-director at Avatar, Adrian Durrant, for over 25 years.


Martin, a British Citizen, grew up in Rhodesia but worked and lived in Johannesburg, South Africa, for most of his life, returning to the UK in 2011. He studied computer science at the University of South Africa but dropped out to lead the transformation of Aircraft Operating Company (AOC) into a digital computer mapping and engineering company. This led to the formation of Hightech Software which he founded after developing a civil engineering package known as Promap. Promap was marketed by AOC under license. His experience in this field resulted in his acceptance as a member of the South African Institution of Civil Engineers.


Having completed his Business Management studies at Damelin Business School in Johannesburg, he was appointed Managing Director of AOC in 1984. Looking for new opportunities for AOC he had a number of the company’s aircraft converted to undertake airborne geophysical surveys. From then until this division of the company was sold to Fugro in 2000, the company carried out geophysical airborne surveys throughout Africa and as far afield as Spain, Norway, Seychelles, India, Canada and Brazil. AOC undertook these surveys for most of the major international mining and oil companies. He also consulted to Anglo American on a number of projects.


Business experience includes contract negotiations with international aid agencies including the World Bank, due diligence processes, innovation, and for the final 5 years before he sold his majority shares in AOC to the AAM Group of Australia focused on the financial management of the company. Having sold his interests in the company in 2008, he continued as Managing Director for a further two years as a consultant, in all serving for 25 years in that position. 


José Luis Camargo

Geophysical Consultant


José is a dynamic and very enthusiastic Geophysicist with a wide and extensive experience worldwide.  José has worked with various Geophysical contractors (CGG, Geokinetics, PGS, Suelopetrol, Terrex Geophysical and BGP) in Africa, Australia and South America, then in multiple technical and consultant positions with several major Oil and Gas Companies (BG, PDO, CNPC, Petronas, Repsol, Shell, PDVSA, PEMEX, Petromanas, Chevron and ConocoPhillips) in East Europe, FSU countries, Africa, Middle East and South America.  José holds a Geophysics Engineer degree and is active member of the SEG and EAGE.  


Jose expertise cover the following areas; seismic, micro-seismic, VSP, Gravity, EM and geology.  In addition his experience cover a broad range of geophysical environments such as shallow water, swamp, desert, rural and urban areas, forest, jungle, mountains, savannah, lakes, rivers, deltas, developed onshore fields and UXO/ERW areas.


José has lived and worked in Venezuela, Mexico, Ecuador, Bolivia, Peru, Russia, Albania, Romania, Ukraine, Lithuania, Czech Republic, Libya, Nigeria, Ethiopia, Oman, Yemen, Sudan (north and South), Irak (KRI), and Australia. In addition to English he  speaks Spanish and Italian. Also he possesses a reasonable level of Czech.


José has strong technical background and extensive knowledge in oil&gas exploration, mining and geophysical research.    His experience includes design, planning, acquisition, processing, interpretation and management of field operations. Line project management and/or Safety, Health, Environment and Security (SHE&S) management of Geophysical projects. 


Strong man-management skills, with ability to anticipate and resolve problems on own initiative and escalate issues appropriately. Very innovative, proactive, self-motivated and highly dedicated to meaningful and profitable work. 

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