a few days old but better late than never........ADU last 76c...

a few days old but better late than never........

ADU last 76c buyer 78c seller 80c

from miningweb
Michael Quinn


Friday, November 14, 2003


ADAMUS Resources' Southern Ashanti gold project in Ghana is attracting plenty of interest from
international mining companies, according to managing director Hamish Halliday.


In answer to a question from a shareholder at the company's AGM in Perth today, Halliday said
at least eight companies had contacted Adamus, including South African major Gold Fields,
Canadian outfit Golden Star - both of which have nearby operations - and just this week the
jilted Randgold.

However, while interest was strong and requests for site visits had been made, Halliday said
Adamus was remaining coy as a major 26,000m RC and diamond drill campaign continues.

Adamus has released a string of strong drill results over the last 12 months from the Salman
prospects at the Southern Ashanti project.

Standout hits have included 75m grading 3.1gpt from surface, 20m at 10.8gpt from 48m, 32m at
3.3gpt from 8m and 28m at 3.6gpt from 36m.

Most of the first-phase drilling concentrated on a 1.2km section of the 4.8km of the southern
Ashanti trend that Adamus initially held, with the current large drill campaign taking in
anomalies along the whole 4.8km held.

According to Halliday, a feature of Salman to date had been the continuity and lack of surface
enrichment - common in these environments - with the tenor of mineralisation found in surface
trenching being repeated in subsequent drilling.

The mineralisation has generally been found in multiple, western dipping horizons.

Buoyed by its early success, the company has picked up additional ground along strike and
parallel to Salman, and now holds around 11km of the Ashanti trend.

The acquisitions have included the Anwia deposit, reported to contain an indicated resource of
220,000oz 11km from Salman.

All up, the Southern Ashanti project (including currently applications) now covers nearly
500sq.km.

The market has also been buoyed by the success to date have been the company's shareholders,
with Adamus' share price up over 500% over the last 12 months, and its capitalisation up around
800% over the same period.

Major shareholders include prospector Robert Gardiner, who with business partner and Adamus
executive director Mark Bojanjac, was previously of Gilt-Edged Mining fame. Macquarie Bank also
has a substantial holding with around 7.5% of the issued capital.

Shares in Adamus closed up 7 cents at 77 cents on a day when most gold stocks were treading
water at best.