Adamus Resources successfully defended its office premises against an attempted takeover by BCM Ghana on Monday, March 25, 2024.
Represented by its legal person and accompanied by security operatives from K9, BCM Ghana’s efforts were thwarted by Adamus Resources’ security personnel and the Ghana Police Service.
The dispute stems from a legal decision by the High Court of Justice (Commercial Division) on July 27, 2023, which established an Interim Management Committee (IMC) to oversee Adamus Resources Ltd. (“Adamus IMC”).
However, Jonathan Adongo, Head of Corporate and Legal Affairs for Nguvu Mining and Administration Manager for Adamus Resources, stated in an interview that a request for a stay of execution has been filed against the IMC ruling, preventing its enforcement until resolved by the court.
Adongo emphasised that the High Court has not authorised or approved any actions by the IMC, maintaining that Adamus Resources’ management remains in the hands of legally appointed officers.
“But it should be noted that the afore-mentioned ruling is currently under dispute and a request for a stay of execution has been filed to prevent the ruling from taking effect,” he said.
This assertion is supported by a letter from the Ministry of Lands and Natural Resources to the High Court Registrar, dated November 23, 2023, stating the ministry’s decision not to appoint a government representative to the IMC.
“The ministry has decided not to appoint a government representative to the I.M.C due to recent developments and after consultations with stakeholders and the regulator Minerals Commission,” the letter read in part.
“This verifiable revelation raises questions about the accuracy of their claims, particularly regarding the existence and composition of the Adamus IMC. One Isaac Ackon, who spoke to the media, even failed to provide the names of the committee members. If any such IMC exists, who are the members from all sides; and why did the ministry redraw their person?” Mr. Adingo quizzed.
The legal dispute also involves the ownership of shares, with Adamus Australia contesting 90 percent held by Nguvu Mining and the remaining 10 percent by the Government of Ghana.
Adamus Resources successfully appealed against the IMC’s creation, citing procedural flaws; and has applied for a stay of execution pending court decision.
“Adamus Resources appealed against the creation of the IMC and won on the basis that the process for which the IMC was created was not properly done. The company has further applied for a stay of execution on the creation of the IMC; and so until that is decided on by the court, there is no IMC,” he disclosed.
In response to the recent events on March 25, 2024, Adamus Resources’ legal team is taking necessary legal actions, Mr. Adongo stated.
The Security Manager of K9, currently in police custody, is expected to assist in identifying IMC members involved in the unauthorised incursion onto Adamus Resources’ premises, he further noted.
