We have taken note of the press statement published by Nguvu Holdings Limited and Nguvu Mining Limited on 25 August 2026, and the allegations therein directed at Paul List, Allan Morrison, and Mike Cooke.

The publication contains material inaccuracies, misrepresentations, and omissions that must be corrected in the interest of transparency, regulatory integrity, and public accountability.

Our response is grounded in verified corporate records, ASIC filings, and—most importantly—the Supreme Court of Western Australia’s ruling delivered on 22 December 2022 in Morrison v Woodthorpe [No. 3] [2022] WASC 454.

2. Key Findings of the Australian Court (WASC 454)

Contrary to the claims made in the Nguvu Holdings rejoinder, the Australian judgment made several clear and binding determinations:

A. Angela List Had No Lawful Authority Over Adamus Resources Pty Ltd (Australia) The Court held that Ms. Angela Dialla List had no actual, implied, or ostensible authority to remove or appoint directors of Adamus Resources Pty Ltd. This directly contradicts Nguvu’s claim that her actions were legitimate.

B. ASIC Was Ordered to Restore Allan Morrison as Sole Director and Secretary The Court issued mandatory orders directing ASIC to:

• Record Allan Roy Morrison as sole director and sole secretary of Adamus Resources Pty Ltd, effective 14 August 2018.

• Remove all references to individuals improperly appointed through documents signed by Ms. List or her proxies. These orders confirm that Mr. Morrison’s position was lawful, and the filings relied upon by Nguvu Mining were invalid.

C. The Court Declared the Filings Used by Nguvu Mining Invalid The judgment explicitly required ASIC to:

• Withdraw two Form 484 filings lodged by individuals acting on behalf of Ms. List.

• Correct the registered office and principal place of business of Adamus Resources Pty Ltd.

• Issue a new corporate key to Mr. Morrison.

These corrections were necessary because the filings used to justify Nguvu Mining’s takeover were not legally valid.

D. The Court Restrained Ms. List and Her Proxies From Lodging Further Documents The Court issued an injunction preventing Ms. List, Mr. Bosompem, and others from lodging any further documents relating to Adamus Resources Pty Ltd without court approval.

This is a direct judicial acknowledgment of ongoing improper attempts to alter the company’s governance.

3. Clarifying Misrepresentations in Nguvu Holdings’ Publication (Reference: )

A. Claim: “Bosompem was duly appointed as Director and Secretary.” Fact: The Australian Court ruled that Bosompem’s appointment was unlawful, and ASIC was ordered to remove his name from all records.

B. Claim: “The Australian judgment did not concern the share transfer.” Fact: While the Court did not adjudicate Ghanaian ownership, it invalidated the corporate actions and filings that Nguvu Mining relies upon to justify the transfer. The fraudulent transfer cannot stand when the underlying governance documents were declared invalid.

C. Claim: “Adamus Australia is wholly owned by Nguvu Holdings.” Fact: ASIC records—corrected under court order—confirm that Adamus Resources Pty Ltd is controlled by its lawful director, Allan Morrison, not Nguvu Holdings.

D. Claim: “Morrison was only a BCM employee.” Fact: The Court recognized Morrison as the lawful director and secretary of Adamus Australia. His role is not dependent on BCM employment but on ASIC validated corporate authority.

E. Claim: “US$224 million is concocted.”

Fact: The figure originates from Ghanaian regulatory investigations, not from Paul List or Allan Morrison.

4. Our Position on the Allegations Against Paul List, Allan Morrison, and Mike Cooke

The publication attempts to portray legitimate whistleblowing and regulatory reporting as a “calculated attempt” to prejudice the public. This is false. We reaffirm the following:

• All statements made by Paul List, Allan Morrison, and Mike Cooke are supported by ASIC records, court rulings, and official Ghanaian investigations.

• None of the three individuals fabricated any information.

• The Australian Court’s ruling directly contradicts Nguvu Holdings’ narrative. • The fraudulent takeover of Adamus Ghana is now the subject of ongoing investigations by Ghanaian authorities.

5. Call for Accuracy and Regulatory Integrity We urge media houses, regulators, and the public to rely on:

• Official ASIC records

• The Supreme Court of Western Australia’s ruling

• Minerals Commission findings

• CID and EOCO investigations

rather than unverified corporate statements designed to obscure unlawful actions.

6. Conclusion

The Adamus matter is not a family dispute, nor a media misunderstanding. It is a documented case of unlawful corporate interference, confirmed by an Australian court and reinforced by Ghanaian regulatory findings. We remain committed to:

• Upholding the rule of law • Protecting Ghana’s mineral assets • Ensuring transparency in corporate governance • Cooperating fully with all lawful investigations

Fact‑Check — The Truth About Adamus Resources & Nguvu Mining

🔍 CLAIM 1: “Angela List and her nominees were lawfully appointed as directors of Adamus Resources Pty Ltd.”

✔ FACT: The Supreme Court of Western Australia ruled that Angela List had no lawful authority to appoint or remove directors of Adamus Resources Pty Ltd. All such filings were declared invalid.

🔍 CLAIM 2: “Moses Bosompem legally transferred 79,650 Adamus shares to Nguvu Mining.”

✔ FACT: The Court found Bosompem had no authority to act for Adamus Australia. The alleged share transfer was fraudulent and not legally recognized.

🔍 CLAIM 3: “ASIC records show Nguvu Holdings owns Adamus Resources Pty Ltd.”

✔ FACT: ASIC was ordered to restore Allan Morrison as sole director and secretary and to remove all invalid filings. Nguvu Holdings does not own Adamus Resources Pty Ltd.

🔍 CLAIM 4: “The US$224 million discrepancy is fabricated.”

✔ FACT: The figure originates from official Ghanaian regulatory investigations, not from Paul List or Allan Morrison.

🔍 CLAIM 5: “The Australian ruling is irrelevant to Ghana.”

✔ FACT: The ruling invalidates the governance documents used to justify Nguvu Mining’s takeover. If the foundation is unlawful, the takeover cannot stand anywhere.

Signed: Mike Cooke, on behalf of Mike Cooke, Paul Edward List, and Allan Morrison,