Adamus Resources Ltd

Published : June 09th, 2011

ADU - Adamus Resources reaffirms full year gold production guidance

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Thursday, 09 June 2011

ADAMUS RESOURCES REAFFIRMS
FULL YEAR GOLD PRODUCTION GUIDANCE


Gold producer Adamus Resources (ASX: ADU) has met all key production targets set since Commercial Production was declared on 1 April 2011. As a result, the newest gold producer in Ghana is on track to achieve forecast gold production of 24,000 - 25,000 ounces, at a cash cost of US$500 - $550 per ounce, for the June 2011 quarter.

Mark Connelly, Managing Director and Chief Executive of Adamus Resources commented: �I am pleased to report that the Nzema Gold Project production is progressing very well. Our first two months� production of 17,439 ounces, is in line with our guidance provided to the market and we remain confident that the Nzema Gold Project will achieve 100,000 ounces of gold in its first full 12 months of operation.�

The pipeline of exploration projects remains on schedule with a small team expected on the ground in Liberia later this month. The team will review Adamus� highly prospective concessions, conducting access assessments and visiting areas of alluvial workings.

In addition, AMEC Minproc is expected to complete a Conceptual Trade-Off Sulphide Study by 30 June 2011, allowing for an initial assessment of the sulphide mineral resource.

�We are continuing with our aggressive campaign to define and advance additional ore reserves and mineral resources. Adamus provides an excellent means for investors to get exposure to gold with a low risk, high profit margin project in West Africa with strong cashflow and significant upside potential,� Mr Connelly said.

Data and Statistics for these countries : Australia | Ghana | Liberia | All
Gold and Silver Prices for these countries : Australia | Ghana | Liberia | All

Adamus Resources Ltd

PRODUCER
CODE : ADU.AX
ISIN : AU000000ADU5
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Adamus Resources is a gold producing company based in Australia.

Adamus Resources holds various exploration projects in Australia.

Its main asset in production is NZEMA in Ghana, its main asset in development is SOUTHERN ASHANTI GOLD PROJECT in Ghana and its main exploration properties are ALIVA in Ghana and SERPENTINE RIDGE PROJECT and BOLLINGER DIAMOND PROJECT in Australia.

Adamus Resources is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is AU$ 320.3 millions as of today (US$ 330.5 millions, € 260.7 millions).

Its stock quote reached its lowest recent point on October 05, 2001 at AU$ 0.05, and its highest recent level on January 16, 2004 at AU$ 1.59.

Adamus Resources has 447 904 191 shares outstanding.

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Annual reports of Adamus Resources Ltd
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8/21/2009Appointement Project managers FINAL
Project news of Adamus Resources Ltd
12/19/2011Endeavour Mining And Adamus Resources Complete Merger
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7/28/2011ADU - Adamus Delivers Above Forecast Gold Production
4/19/2011ADU - Hon Joel Fitzgibbon applauds Adamus Resources
3/1/2011(Aliva) - Aliva Dilling Extends Main Oxide Zone
1/14/2010(Southern Ashanti Gold Project)Construction progress - Southern Ashanti Gold Project
8/10/2009(Southern Ashanti Gold Project)A$40M Placement for Project Development
7/24/2008(Southern Ashanti Gold Project) New Discovery at Bokrobo
8/2/2007(Southern Ashanti Gold Project)Drill rigs secured for Ghana expansion
7/24/2007(Southern Ashanti Gold Project)Drilling Hits Target : 14m @ 11.5g/t
7/5/2007(Southern Ashanti Gold Project)New drilling program targets more ounces
6/14/2007Advances - Positive Feasibility Study
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8/24/2011Financial Post-Endeavour to merge with Adamus
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7/15/2011ADU - MD/CEO Mark Connelly discusses Adamus' operations and ...
6/9/2011ADU - Adamus Resources reaffirms full year gold production g...
12/21/2009CREDIT-APPROVED FINANCE PACKAGE
12/16/2008EPA GIVES GREEN LIGHT FOR MINING AT GHANA GOLD PROJECT
1/31/2008Drill Results at Avrebo show Additional Ounces
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