The
management of Black Star Company ((Black Star Advisors and Black Star Brokerage)) has
denied reports that the firm has caused $5 million financial loss to the state
through MIIF’s investment in Asante Gold”
Reports
in a section of the Ghanaian media indicated that “Industry players in the [sic]
Ghana’s oil and mineral sector are accusing a Deputy [sic] Minister of Finance,
Charles Kofi Adu Boahene of using his private company, Black Stars Advisory
Limited, to cause financial loss [sic] to the state to the tune of
approximately $5 million through the advice the company gave to the Minerals
Income Investment Fund (MIIF) to
subscribe[sic] to a private placement by Asante Gold Corporations, purchasing
14.5 million Asante shares at C41.75/share.”
But
the management in a statement issued on Wednesday August 24 described this
report as “patently false and deliberately misleading.”
Black
Star was never engaged by MIIF, as falsely alleged, to advise it on any private
placement to do with the shares of Asante Gold Corporation,” it said.
“We
are concerned by what appears to be an orchestrated scheme to push false and
misleading narratives about our Company. This is just the latest in a series of
carefully crafted and deliberate efforts to cause significant harm to the
Company and all its stakeholders. This press release is without prejudice to
any legal action that may be taken by the company or individuals targeted by
this false publication.
“ASG’s
business activities include the acquisition, exploration, evaluation, and
development of mineral properties in Ghana, West Africa using, wherever
possible, environmentally sustainable methods and protocols, to maximize the
return to shareholders, the local community, and Ghana as a whole.”
The
management further said it treats “all allegations against it seriously and
will review all internal processes and take appropriate action where necessary
to safeguard all its stakeholders.”
By
Laud Nartey