Adamus Resources Ltd (Adamus Ghana) has issued a statement to address recent misinformation surrounding the establishment of an Interim Management Committee (IMC).

This response is prompted by a public notice issued on January 17, 2023, by the Board of Directors of Adamus Resources Pty. Ltd. (Adamus Australia), currently published on the LinkedIn page of BCM Ghana Ltd.

The statement clarifies that BCM Ghana Ltd is presently under an Interim Management Committee (BCM IMC) constituted by the High Court. The public notice on BCM Ghana’s LinkedIn page was unauthorized by the BCM IMC, and certain officers, injuncted from acting on behalf of BCM Ghana, are reportedly acting in contempt of the High Court’s orders.

Contrary to the public notice, Adamus Ghana disputes the legal decision of the High Court, stating that it is currently under dispute, and a request for a stay of execution has been filed. The company contends that, until the stay of execution is resolved, the ruling cannot be enforced. The High Court has not, according to official records, authorized or approved any work carried out by Adamus IMC.

The statement highlights the verifiable revelation from the Ministry of Lands and Natural Resources, dated November 23, 2023, indicating the decision not to appoint a government representative to the IMC due to recent developments.

Adamus Resources Ltd questions the accuracy of the public notice, particularly regarding the existence and composition of the Adamus IMC. The statement challenges those who issued the notice to provide the names of the committee members.

In emphasizing its commitment to transparency and accountability, Adamus Resources Ltd encourages stakeholders and the public to rely on official statements from relevant authorities or the court for accurate and up-to-date information.

Read full statement below:

Adamus Resources Ltd (“Adamus Ghana”) would like to address the recent misinformation surrounding the purported establishment of an Interim Management Committee (“IMC”). This is in response to the public notice issued on January 17, 2023, by the Board of Directors of Adamus Resources Pty. Ltd. (“Adamus Australia”), which is currently published on the LinkedIn page of BCM Ghana Ltd.

By way of clarification, the said BCM Ghana Ltd is currently under an interim management committee (the “BCM IMC”) duly constituted by the High Court. The publication that was made on the Linkedin Page of BCM Ghana was unsanctioned by the BCM IMC. However, certain officers, who have all been currently injuncted from acting on behalf of BCM Ghana have stampeded the work of the BCM IMC and are acting in clear contempt of the orders of the High Court including using the LinkedIn page of the company for purposes unrelated to the business activities of BCM Ghana.

The public notice asserted that following a legal decision by the High Court of Justice (Commercial Division) on July 27, 2023, an Interim Management Committee was established to manage the day-to-day affairs of Adamus Resources Ltd (“Adamus IMC”). Apart from the fact that the High Court gave a ruling that an Adamus IMC was to be established, everything else in the notice is false.

It should be noted that the aforementioned Ruling is currently under dispute and a request for a stay of execution has been filed to prevent the ruling from taking effect. In addition, an appeal has been made against the Ruling. Therefore, until the stay of execution is resolved, the Ruling cannot be enforced. It is important to mention that, according to official records, the High Court has not authorized or approved any work carried out by Adamus IMC, and the company’s management is still in the hands of the legally employed officers of Adamus Ghana.

On the other hand, it has been established that the BCM IMC is in charge of BCM Ghana, with its terms of reference approved by the High Court. However, certain persons continue to stampede the work of the BCM IMC and are illegally exercising management functions over its affairs, including publication of such false publications on the LinkedIn page of the company.

A clear demonstration of the fact that there is no sanctioned Adamus IMC is a letter issued by the Ministry of Lands and Natural Resources to the Registrar of the High Court, Commercial Division dated November 23, 2023. The letter stated, “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.”

This verifiable revelation raises questions about the accuracy of the public notice, particularly regarding the existence and composition of the Adamus IMC claimed by those who put out the public notice. The individuals who issued the notice failed to provide the names of the committee members. If any such IMC exists who are the members?

In light of these discrepancies, we believe it is essential to seek clarity and transparency regarding the current status of Adamus Ghana. We encourage all stakeholders and the general public to rely on official statements from the relevant authorities or the court to obtain accurate and up-to-date information.

Our commitment to transparency and accountability remains unwavering. We understand the importance of accurate information in financial and legal matters and will continue to monitor developments closely.

Signed,

Angela List

CEO