News

March 03, 2009

Azumah’s Acquisition Of Crew Gold’s Ghanaian Ground Should Take It Over The One Million Ounce Mark

By Our Man in Oz

There shouldn’t be any need to call for the help of contestants from the controversial quiz show University Challenge to get the answer to the following simple test of arithmetical skills, though the implications of the answer might be lost on that brainy crew. What is the sum of 754,300 and 300,000? If you said: “just over one million”, you’re spot on, and if you’re a follower of gold exploration in Africa you might even recollect that that magic million is the number of ounces that many companies believe is needed for the development of a new gold mine. One of those, a company that’s been flying below the radar of many investors, is Azumah Resources, an Australian-based company with its best assets in the north-west corner of Ghana.

Early on Tuesday 3rd March Azumah moved itself up to within spitting distance of the one million ounce mark, not that the company can actually say so, without getting a whack over the knuckles from assorted corporate watchdogs. But Minesite’s Man in Oz is not obliged to stick to the strict reporting rules of the ASX, ASIC, JORC, or any other organisation with a name constructed from a bowl of alphabet soup. That’s why he feels free to toss the numbers up into the air in a way that no-one else...