Response to Adolphus Mining, Inc. news item

Press Releases

It has been drawn to the attention of the Guyana Gold Board (GGB) that there is an online news item re the issuance of a dealer’s license to Adolphus Mining, Inc.

The Guyana Gold Board confirms that a dealer’s license was approved by the board for Adolphus Mining, Inc. for 2019. Mr. Travis Chase is a director of said entity.

In the instance of Adolphus Mining, Inc., the GGB management and directorate conducted the required due diligence customary for ALL existing dealers, and any applicants for the issuance of a dealer’s license.

The management and board were aware of the circumstances surrounding a quantity of gold that was brought before the then GGB management in 2011.  With regard to the gold from 2011, additional due diligence revealed that: 1) the holder of that gold was the producer, now licensed as a dealer; 2) all reports and ensuing official inquiries, at that time (and by the current board), relative to that gold indicated the  miner and his gold holding involved a private conflict; 3) the gold was weighed at the GGB and full payment was made at market rates prevailing in 2011; and 4) there were neither charges nor court matters nor convictions nor fines nor anything prejudicial levied in relation to that gold.

All of the aforementioned were part of the review and approval process by management and the directorate of the GGB in 2018/19.  There was nothing that militated materially against, or that did serve as an effective bar to the issuance of a gold dealer’s license to Adolphus Mining, Inc.

The GGB is concerned that it was not consulted for clarification prior to the release and publication of this news item, which both invades the privacy of the parties named, and casts a number of unfounded aspersions.