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Blue Gold Limited (NASDAQ:BGL) ("Blue Gold" or the "Company"), a next-generation gold development and technology company, today addressed recent news coverage of a Supreme Court of Ghana ruling concerning the Bogoso-Prestea Mine.
On November 18, 2025, the Supreme Court of Ghana dismissed an order for certiorari filed by FGR Bogoso Prestea Ltd. ("FGR") and Blue Gold Bogoso Prestea Ltd. (subsidiary of the Company). The recent ruling was not on the merits of Blue Gold's claim, but rather responding to a procedural question about whether the High Court had properly denied itself jurisdiction to consider the first application for judicial review before it. Although the Supreme Court was of the view that an order of certiorari was not the appropriate remedy in the circumstances, the question will still be considered by the Court of Appeal. In the event that Blue Gold is successful at the Court of Appeal, the High Court will assume jurisdiction and determine the first application for judicial review on its merits.
The Company has a further Judicial Review appeal that is yet to be heard by the Court of Appeal, and a Human Rights claim and injunction application, which are scheduled to be heard in the High Court on December 18, 2025.
Furthermore, and distinct from the above domestic actions, an international arbitration against Ghana is underway, (under the bilateral investment treaty between the UK and Ghana), in which Blue Gold and FGR seek damages for an amount estimated to be substantially in excess of $1bn.
Notwithstanding the foregoing, Blue Gold continues to prioritize an amicable, negotiated settlement with Ghana, for which it has set aside funds that could be immediately injected into the mine should an agreement be reached.
Posted In: BGL
