SOURCE: African Business Review

African Business Review

March 01, 2012 15:20 ET

Adamus Resources Mines for Gold and Looks to the Future With New Merger in a Prospering Ghanaian Market

NORWICH, UNITED KINGDOM--(Marketwire - Mar 1, 2012) - Adamus Resources has had a presence in Ghana since 2002, when it began its advanced exploration programme at what became the Nzema Gold Mine in Western Ghana.

In 2008, a feasibility study was undertaken and the building of the mine began in early 2010. After a solid first six months in production, the company is on track to hit its target of producing 100,000 ounces of gold in the first year.

The company also recently announced a merger with Endeavour Mining Corporation. "It is an exciting time for us," says General Manager (GM) Attie Roux.

"As far as organic growth is concerned, we have an aggressive exploration programme with a highly prospective ground 650km2 area of tenements around the mine."

The merged entity is expected to produce some 172,000 oz of gold from Endeavour's Youga Gold mine, in Burkina Faso, and Adamus' Nzema Gold mine, in Ghana.

This production would increase to around 250,000 oz by the end of 2013, when the Agbaou project, in Ivory Coast, is brought into production. A construction decision for this project is expected by the middle of 2012.

About Adamus Resources Limited
Adamus Resources was established in 2002, taking on an advanced exploration programme in Ghana. In 2011, the company announced a merger with Endeavour Mining Corporation to expand its activities in Western Africa.

About African Business Review
African Business Review is a leading digital media source of news and content for C-level executives focused on business and industry-specific news throughout Africa. African Business Review is the territory-dedicated arm of the White Digital Media Group. Founded in 2007 by entrepreneur Glen White, White Digital Media retains a diversified portfolio of websites, magazines, daily news feeds and weekly e-newsletters that leverage technology to innovatively deliver high-quality content, analytical data, and industry news. For more information, contact 1-760-827-7800 or visit http://www.africanbusinessreview.co.za/.

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