The facts from which inferences are to be drawn must be true and proven.  Although all the facts must be considered holistically, it is necessary to examine the facts to establish that they are true and proven.  Secondly, as the inference of collusion also involves drawing an inference from other facts that are themselves inferences from the primary facts, these initial inferences must be interrogated.  Only when the proper facts including the inferences made from those facts have been satisfactorily established, may the final inference of collusion be attempted.

Landman JA at para [25] in Num obo Mokoena v Mogale Gold, A Division of Mintails (SA) (Pty) Ltd (JA11/2014) [2015] ZALAC 32 (22 July 2015) [Tlaletsi DJP and Sutherland JA concurring]