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 ASX; ADU
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Company Statement
Adamus Resources Limited is a Perth-based emerging gold producer which is listed on the Australian Securities Exchange (ASX) code: ADU, the TSX Venture Exchange (TSX-V) in Canada code: ADU and Frankfurt Stock Exchange Open Market (FSE) code: AXM.
The Companys main focus is on realising the economic potential of the 90% owned Southern Ashanti Gold Project in Ghana, West Africa, where drilling has already identified a existing gold mineral resource of:
- 30.2Mt @ 1.80g/t for 1,750,000oz (Measured and Indicated) +
- 6.98Mt @ 1.62g/t for 362,000 oz (Inferred).
Adamus Resources Limited owns 90% of the Southern Ashanti Gold Project (SAGP) located in south-western Ghana which is being developed as an open pit operation. "Nzema" pronounced 'en zimmer' is the name of the people and the local region in which the Project is located. The SAGP will be named Nzema Gold Operations in honour of the people and the region.
Current Operations
The Southern Ashanti Gold Project (SAGP)
Located in south-western Ghana, West Africa, approximately 280km west of Ghana's capital city Accra. The SAGP consists of a contiguous block of granted tenure covering approximately 644 square kilometres, accessible via 80km of sealed roads from the major port city of Takoradi and in close proximity to the major mining centre at Tarkwa.
"Nzema" pronounced 'en zimmer' is the name of the people and the local region in which the Project is located. The SAGP will be named Nzema Gold Operations in honour of the people and the region.
The SAGP is situated on the southern extension of the Ashanti Gold Belt, host to over 100Moz of gold. The tenements themselves lie just 40km south of the world class deposits of Bogosu (3.3Moz) and Prestea (10.7Moz).
Historically the deposit has had no formal mining with the exception of the Salman-Akango pit chain, with non-mechanised mining conducted in the 1890's a number of companies including BHP Billiton, Resolute Mining, Semafo, Samax and Ashanti Goldfields have all undertaken various exploration studies and work. Adamus acquired the Salman concession in 2002, the Akango (Salman North) concession in 2003, the Anwia concessions in 2004 and Anwia South concession in 2006.
| Deposit | Catergory | Tonnage (Mt) | Grade Au (g/t) | Contained |
|---|---|---|---|---|
| Combined Salman and Anwia | Measured | 20.3 Mt | 1.84 | 1.200,000 |
| Combined Salman and Anwia | Indicated | 9.9 Mt | 1.73 | 550,000 |
| Total | Measured & Indicated | 30.2 Mt | 1.8 | 1,750,000 |
| and | Inferred | 6.98 Mt | 1.62 | 362,000 |
Table 1: Southern Ashanti Gold Project, Resource Estimate @0.8g/t Au COG.
Serpentine Ridge Project
Adamus holds 100% interest in the Serpentine Ridge exploration licence. The tenement covers the Wilson River and Huskisson River ultramafic complexes, located north of Ranison Bell in Western Tasmania (Serpentine Ridge location and regional geology). The Wilson River and Huskisson River ultramafics represent the northern strike continuations of the sequence that hosts the Avebury nickel deposit, presently being developed by Allegiance Mining.
The Serpentine Ridge exploration areas are currently under Joint Venture evaluation by a third party.
Geographical Spread
West Africa
Board of Directors and Key Management
| Board fo Directors | |
| John Hopkins | Non-Executive Chairman |
| Mark Bojanjac | Managing Director/CEO |
| Mark Connelly | Executive Director/COO |
| Dr Tony Harwood | Non-Executive Director |
| Peter Tredger | Non-Executive Director |
| Martin Reed | Non-Executive Director |
| Ian Cunningham | Company Secretary |
| Management | |
| Ron Heeks | Chief Technical Officer |
| Mike Ezan | Adamus Director Ghana |
| Mark Addo | Manager, Business |
| Paul Sowley | Manager, Environmental and Safety |
| Patrick Ampong | Community Development |
Company AddressLevel 2, 45 Richardson Street
|
Additional Address/Key ContactPO Box 568 |
CapitalTotal Shares on Issue (ADU): 154,492,376 |
Year EndJune 30 |
Major Shareholders
| Macquarie Bank | 19% |
| Gardner & Hightime | 17% |
| Equigold / Lihir | 7% |
| Total | 43% |
Related News
23/02/10 - Adamus Resources Expects To Be In Production At The Nzema Gold Project In Ghana During The First Quarter Of 201118/06/09 - Adamus Gives The Green Light To Development At Its Gold Mine In Ghana: The Next Step Is To Raise The Funding
03/12/08 - Broken Down Washing Machine Wipes $8 Million Off The Value Of Adamus Resources
12/05/08 - Adamus Resources Now Has The Winning Post Of Gold Production Firmly In Sight
Most Recent Statement
10/03/10 - ADAMUS TO RAISE UP TO A$30.5M VIA PLACEMENT AND RIGHTS ISSUE02/03/10 - PROJECT PICTORIAL UPDATE
02/03/10 - Half Year Report
16/02/10 - Project Site - Pictorial Update (Feb 2010)
12/02/10 - Hedging Contracts Locked In
28/01/10 - Quarterly Activities Report and Appendix 5B