GoldStone Resources Limited, the West African-focused gold producer listed on London’s AIM, has announced the outcome of its Annual General Meeting (AGM) held on Monday, August 11, 2025, revealing a shake-up at board level.
While shareholders approved most resolutions, they decisively rejected Resolution 3, which sought to reappoint Ms. Angela List as a director.
The motion garnered only 19.23% of votes in favour, with 80.77% voting against, effectively ending her tenure on the board with immediate effect.
Additionally, Resolution 7, which aimed to give the directors authority to issue up to 474.6 million new shares—representing roughly half of the company’s issued share capital—was also defeated, after 37.04% of shareholders voted against it.
Following the meeting, the board appointed Campbell Smyth as Interim Non-Executive Chairman.
The AGM also came against the backdrop of unexpected disclosures by former Chairman Bill Trew, who revealed details of a takeover offer submitted to the board in April 2025, which had been rejected.
GoldStone confirmed that it has launched an investigation into how Mr. Trew obtained confidential information.
On operations, the company reported producing 213.7 troy ounces of gold in July 2025, noting that output was lower due to low-grade ore currently being mined at its Homase project in Ghana’s Ashanti Belt.
Management added that discussions with potential funding partners are ongoing and, if required, a further general meeting would be convened to seek renewed approval for share issuance.
GoldStone Resources operates the Akrokeri-Homase gold project in Ghana, a site with a rich history of high-grade production dating back to the early 1900s.
It has emerged that the company has taken such a decision considering the numerous scandals and claims of abuse of office, and corruption that Angela List was involved in.
It has been established that Angela List, the embattled CEO of Adamus Resources Limited and self-proclaimed director of BCM Ghana Limited, was facing damning allegations that threaten to further damage her already controversial reputation within Ghana’s mining and business sectors.
The Economic and Organised Crime Office (EOCO), is investigating a petition that has to do with one businessman Michael Benziecie who accuses Angela List and her associate, Rebecca Donkor, of defrauding him of $100,000 under the guise of granting access to a lucrative mining concession.
Benziecie claims the deal was brokered after a personal introduction to List by the Chief Executive Officer of the Minerals Commission, Mr. Martin Ayisi.
According to the complaint, Benziecie paid $100,000 in two tranches—$50,000 on March 19 and another $50,000 thereafter—after being promised access to a site near Adamus’s operations.
The arrangement reportedly included a 20% stake in the venture, divided between List (15%) and Donkor (5%).
But despite submitting all required documentation and receiving assurances from List herself at a meeting in East Legon, Benziecie was barred from the site by security forces.
With all these and other stated misconducts on her part, the company removed her from its management.
