APALOO J.S.C.
On or about 15 September 1928, six buying syndicates apparently originating from Akwapim, pooled their resources together and purchased a fairly large tract of land at a place called Kakoase in the Akim Abuakwa Traditional Area. The land was purchased from the stool of Akwatia. It seems the original intention of the syndicates was to farm on the land. This, however, did not materialise as the land or a substantial portion of it contained valuable minerals. Notwithstanding its earlier alienation to the syndicates, the Akwatia stool granted leases of portions of it to the Consolidated African Selection Trust (hereafter referred to as C.A.S.T.) for mining. Under the lease, “mining revenues” and royalties became due to the stool.
As is only to be expected, the syndicates asserted their right to the beneficial enjoyment of these revenues or at least to an aliquot part of them. This claim seems to have been conceded and some time in 1933, the syndicates and the Akwatia stool en…