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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.
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