RESOLUTE AMANSIE LTD VS AKOASE RESOURCES LTD & ORS

On the 18th of October, 2021 this Court entered Judgment in favour of the Plaintiff to recover from Defendants jointly and severally as follows;

a) Recovery of the sum of Three Million United States Dollars (US$3,000,000.00) being the outstanding balance on the purchase price of the mineral rights sold by Plaintiff to 1st Defendant.

b) Interest on the said sum of Three Million United States Dollars (US$3,000,000.00) shall be calculated at the contractual rate of 5% per annum to be calculated daily from the 31st day of January, 2018 until date of final payment. Payment of the said sum of Three Million United States Dollars (US$3,000,000.00) together with interest calculated thereon may be paid in its cedi equivalent at the prevailing exchange rate on the date of payment.

c) Recovery of the sum of One Hundred and Twenty Thousand United States Dollars (US$120,000.00) being the transfer fee paid by the Plaintiff to the Minerals Commission on behalf of the 1st Defendant.

d) Interest shall be calculated on the said sum of One Hundred and Twenty Thousand United States Dollars (US$120,000.00) at the contractual rate of 5% per annum to be calculated daily from the 29th day of May, 2017 till date of final payment. Payment of the said sum of One Hundred and Twenty Thousand United States Dollars (US$120,000.00) together with interest calculated thereon may be paid in its cedi equivalent at the prevailing exchange rate on the date of payment.

e) Recovery of the Sum of Two Million United States Dollars (US$2,000,000.00) or its cedi equivalent being the aggregate sum due the Plaintiff as mineral royalties following the commencement of gold production by the defendants on the Akoase East Property.

f) The 1st Defendant is hereby ordered to file at the registry of this Court, an account verifying by affidavit all sums due the Plaintiff from gold produced at the Akoase East property within Fourteen (14) days from today or on or before the 1st day of November, 2021. Upon the filing of the said document by the 1st Defendant, the Registrar of this Court is to serve a copy on the Plaintiff for its consideration. Plaintiff is to file its response to the said document within Seven (7) days of such service if it is minded to do so. Thereafter the parties are to appear before this Court for further directions and/or orders on 17th of November, 2021.

g) The issue of interest payable on Relief (e) is deferred until submission of the said account by the 1st Defendant and determi