To view Annual Report, it may be necessary to obtain it from here: http://stocknessmonster.com/news-history?S=ADU&E=ASX&Year=2003
The Company has holdings in Ghana and Australia. Page 8 of the Annual Report:
Australia: Kimberley Diamond Project: "Previous reconnaissance drilling at Bollinger by Adamus identified a kimberlitic fissure zone >500m in length directly along strike from Seppelt 2.The chemistry of indicator minerals recovered from the Bollinger fissure zone, suggests the kimberlitic material is highly prospective for diamonds".
Page 13: A very experienced Board of Directors.
2. Shares, Options and Placement:
Price $1.25, was $1.40, but retraced: http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=AU%3AADU&time=&freq=
At present it is in a sideways motion and is consolidating.
Shares and options: 56.75 mill shares and about 15 mill. 2004-206 unlisted options. Please note that North American Institutions took part in the latest $4 mill. placement @ $1.10 per share: The company said: "Following significant interest in the Company’s Southern Ashanti Gold Project, the Directors of Adamus Resources are pleased to announce that the Company has committed to a private placement to select North American Institutions".
3. ASHANTI GOLD PROJECT--Ghana: (This is prior to further expansion-See below). Refer to the "Resources", right top of page-worthwhile viewing: http://www.adamusresources.com.au/projectdetails.asp?id=1#
Applies for a further 241sq kms of ground at Ashanti- See MAP on page 2--Date 24 Sept. 2003 http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=245066
Acquires Neighbouring Projects & Triples Land Holding:- -Date 18 Sept. 2003 -See MAP of previously mentioned website: http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=244705
SALMON North+Central: Results continue to impress--Date 17 March 2003: http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=234667
22000 metres of RC drilling at Salman commencing mid-Sept--Aug.20, 2003: http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=242555
SALMAN SOUTH: First Exploration drill holes produce impressive results incvluding 66 m @ 2.3 g/t gold.- Date 16 Oct. 2003: http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=246841
SALMAN CENTRAL: Detailed drilling -Date 20 Nov 2003: http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=250140
That is my opinion, Gerry Stolwyk Disclaimer: Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.
ADU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
