The Commercial Division of the High Court in Accra has directed Adamus Resources (PTY) Limited, an Australian-based company, to deposit the cedi equivalent of $50,000 as security for legal costs within 21 days.

The order was issued on July 30, 2025, by Justice Doris Dabanka Awuah-Bekoe.

The ruling also stays proceedings until Adamus Australia files a notice of payment and presents evidence to the court.

The Australian company is challenging the transfer of 90 per cent shares in Adamus Resources Ghana Limited to Nguvu Mining Limited, a company owned by Ms. Angela List.

In February 2025, Adamus Australia, acting through Alan Morrison, filed a suit claiming ownership of the disputed shares and seeking to overturn their acquisition by Nguvu Mining.

The defendants — Adamus Ghana, Nguvu Mining and Ms. List — opposed the suit, describing it as baseless and vexatious.

Lawyers for the defendants, led by Attorney General Godfred Yeboah Dame, argued that Adamus Australia was neither registered in Ghana nor operating in the country, had no assets locally, and, therefore, should be compelled to provide security for costs in line with the Companies Act, 2019 (Act 992).

They stressed that the share transfer was properly executed and approved by the Registrar of Companies, the Minerals Commission and the Minister of Lands and Natural Resources.

Counsel for the plaintiff, Minkah-Premo & Co, opposed the application, contending that the disputed shares should be treated as money owed to their client and therefore security for costs was unnecessary.

Justice Awuah-Bekoe, however, dismissed this argument, noting that ownership of the shares remains to be determined by the court.

The judge ruled that the plaintiff must pay the $50,000 security into an interest-bearing court account before the matter can proceed.

Adamus Australia was represented by Eric Nyarko and Okatakyie Boakye Danquah Ababio, while the defendants were represented by Mr. Dame, Yaa Kobi Frimpomaah, and Yaw Brempong Adu-Brempong.