GoldStone Resources Limited, a London-listed gold producer operating in West Africa, held its Annual General Meeting (AGM), highlighted by the dramatic rejection of Director Angela List’s reappointment. Shareholders overwhelmingly voted against Resolution 3, which proposed her continued tenure, with only 19.23% voting in favor and a resounding 80.77% against. This decisive vote effectively terminated Ms. List’s position on the board with immediate effect. The AGM also saw the defeat of Resolution 7, which sought to grant the directors authority to issue a substantial number of new shares, equivalent to approximately half the company’s existing issued share capital. This proposition met with resistance from 37.04% of shareholders, further indicating a degree of discontent amongst the investor base. In the wake of these developments, the board appointed Campbell Smyth as Interim Non-Executive Chairman, signaling a shift in leadership within GoldStone.
The AGM took place amidst a backdrop of controversy sparked by disclosures from former Chairman Bill Trew. Mr. Trew revealed the existence of a takeover offer submitted to the board in April 2025, an offer that was ultimately rejected. GoldStone responded by confirming an ongoing investigation into how Mr. Trew obtained this confidential information, raising concerns about potential breaches of protocol and corporate governance. The confluence of these events – the rejection of Ms. List, the failed share issuance proposal, and the revelation of the takeover bid – suggests a period of significant internal upheaval and scrutiny for GoldStone. The company now faces the challenge of navigating these issues while maintaining operational stability and investor confidence.
On the operational front, GoldStone reported gold production of 213.7 troy ounces in July 2025 from its Homase project in Ghana’s Ashanti Belt. The company attributed lower output to the currently low-grade ore being mined. Management indicated that discussions with potential funding partners are ongoing, potentially paving the way for future investment and development. Should additional funding necessitate further share issuance, the company confirmed its intention to convene another general meeting to seek renewed shareholder approval, demonstrating a commitment to transparency and proper corporate governance. The Homase project, situated in a historically productive gold mining region, remains a key asset for GoldStone, and its performance is crucial to the company’s overall success.
The rejection of Ms. List’s directorship is reportedly linked to a series of scandals and allegations of misconduct. Sources indicate that Ms. List, also CEO of Adamus Resources Limited and purported director of BCM Ghana Limited, faces damaging accusations that further tarnish her reputation within Ghanaian business circles. These allegations are not confined to GoldStone but extend to other ventures involving Ms. List, raising broader questions about her business practices. The severity of these claims has likely contributed to the shareholders’ decisive vote against her continued involvement with GoldStone, demonstrating a desire for ethical leadership and responsible corporate governance.
Central to the allegations against Ms. List is an ongoing investigation by the Economic and Organised Crime Office (EOCO) into a complaint filed by businessman Michael Benziecie. Mr. Benziecie accuses Ms. List and her associate, Rebecca Donkor, of defrauding him of $100,000 under the pretext of granting him access to a lucrative mining concession. The complaint alleges that Mr. Benziecie was introduced to Ms. List by the CEO of the Minerals Commission, Mr. Martin Ayisi, and subsequently made two payments of $50,000 each based on the promise of securing a stake in a mining venture near Adamus’s operations. This arrangement reportedly included a 20% stake in the venture, with 15% allocated to Ms. List and 5% to Ms. Donkor.
Despite fulfilling the necessary documentation requirements and receiving assurances from Ms. List herself, Mr. Benziecie was allegedly denied access to the site by security personnel. This incident, coupled with the EOCO investigation, paints a picture of potential impropriety and raises serious concerns about the conduct of Ms. List and her associates. The allegations, if proven true, could have significant legal and reputational ramifications for all involved. The ongoing investigation will be crucial in determining the veracity of Mr. Benziecie’s claims and the extent of Ms. List’s involvement in the alleged fraudulent activity. This situation underscores the importance of transparency and accountability within the mining sector and the need for robust regulatory oversight to protect investors and stakeholders.
