High Court dismisses Adamus Resources injunction against Nguvu Mining

The Commercial Division of the High Court in Accra has dismissed an application for an interlocutory injunction filed by Adamus Resources (PTY) Limited. The application sought to prevent Nguvu Mining Limited and its Chief Executive Officer, Ms. Angela List, from transferring or dealing with shares in Adamus Resources Ghana Limited. Presiding judge Justice Doris Dabanka Awuah-Bekoe ruled that the application was meritless, marking a significant development in the protracted legal battle over the ownership of the mining firm.

The Australian-based Adamus Resources (PTY) Limited, which claims to hold a 90% stake in the Ghanaian subsidiary, argued that the shares were transferred to Nguvu Mining through fraudulent means. The company further contended that these transactions occurred without the requisite board approvals or regulatory consent. In its legal bid, the plaintiff had requested the court to restrain the defendants from any further share transfers until the substantive case regarding the ownership of Adamus Ghana is fully resolved.

In her ruling, Justice Dabanka Awuah-Bekoe determined that the plaintiff failed to satisfy the essential legal conditions required to grant an interlocutory injunction. This decision comes shortly after the court ordered Adamus Australia to provide security for legal costs in its ongoing litigation against Nguvu Mining and Ms. List. The court's refusal to grant the injunction allows Nguvu Mining to maintain its current position regarding the company's shares while the broader legal dispute continues.

This latest ruling is a major setback for the Australian entity and its representatives, including Paul List and Alan Morrison, who have been challenging the authority of Ms. Angela List and Nguvu Mining. As the substantive case moves forward, the decision reinforces the operational status quo at Adamus Ghana, one of the country's notable gold producers, pending a final judicial determination on the validity of the disputed share transfers.