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Adolphus Mining not granted special consideration in licence approval -independent review of Gold Board records finds
Local law firm, Cameron and Shepherd, has found no red flags in the assessment of a gold export licence to Adolphus Mining Inc.
Gold Board’s head, Gabriel Lall
The Guyana Gold Board recently came under the spotlight after it became known that Adolphus received one of nine of the coveted export licences.
There were questions over the background checks carried out on the directors of Adolphus.
The two directors are Rylon Adolphus, a miner, and Travis Chase, a television reporter.
Both had appeared in the news. Chase had been convicted in a simple larceny case involving a camera.
He was the one who incorporated the company.
Adolphus was reportedly linked to an illegal gun find in a car and then subsequently, a 30-pound seizure of gold at his Republic Park home.
Rylon Adolphus (left) and television reporter, Travis Chase
Adolphus Mining was incorporated in January and granted the export licence in March.
Amid the questions that came, Gold Board yesterday said that its directorate authorized the engagement of the independent law firm of Cameron & Shepherd, to review and evaluate this licensing process.
“The primary objectives for independent counsel were 1) to determine adherence to all of the components of the GGB’s process; and 2) to determine whether any exceptions or special considerations were granted to any approved dealer in general, and Adolphus Mining, Inc. in particular,” the Gold Board explained yesterday.
In its report to Chairman, Gabriel Lall, the law firm acknowledged that it proceeded on a review after conversations, an email and a receipt of a number of files.
“While not yet fully documented, we are satisfied that the Guyana Gold Board has a standard procedure in evaluating applications, which consists of setting out for applicants the documents required, and the process; collating submitted documents; assessing the documents for authenticity; interviews with the applicant or applicants; consideration by the board of directors and recommendation to the Minister.”
The law firm said that it reviewed the process and the records of eight applicants. The report said that the law firm was satisfied that the companies were fully aware of the requirements of their applications and followed the requisite procedure in their submissions.
The report to the Chairman also said that it was found that the documentation that was required was submitted.
“We are satisfied that none of the applicants appear to have been given special or relaxed consideration as all applicants appear to have followed the same procedures.”
The eight other companies that are licensed to deal and export gold are Adamantium Metals Inc;
GBTI Property Holding Inc; Pure Diamond Inc; El Dorado Trading; Dinar Trading; Gold Bar Development and Consulting Inc; Excel Minerals Inc. and Mohamed’s Enterprise.
Gold trading is the biggest foreign currency earner in Guyana, raking in over US$600M annually.
However, there have been repeated stories of collusion and smuggling.
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