1. The previous post mentioned on 20 Aug. that drilling would start in Mid Sept. A month later, 16 Oct., there were results to be followed by more on 20 Nov. That may indicate that further results from SALMAN SOUTH could come in before Christmas.
A suggestion was made that the Company may list in Canada at some stage. It is a possibility as Canadian and American investors tend to value African Gold Deposits much higher than Aussie Investors.
Note also that the latest placement was made to North American Investors. Directors have a vast international experience including African and North American.
Note that the number of shares in post 1 is not that great at present. There will be some increase to come due to expansion as discussed in that post.
2. Post 198471 by "Martie": I million oz in resource would value the company between $1.50 to $1.80. Two million oz twice that. If ADU can expand the know mineralisation along it's currently known margins then it would greatly expand the 2 million ozs.
The interest is that Golden Star's Bogoso/Prestea properties to the north are likely to be geologically similar.
As at May 31, 2002, the Measured and Indicated Mineral Resources ("Mineral Resources") at Bogoso/Prestea total 30,376,000 tonnes at an average grade of 3.25 g Au/t representing 3,175,000 ounces of gold (refer Golden Star Website www.gsr.com).
From this website the Bogoso/Prestea Mineral Resources are broken down as follows:
Classification Tonnes Grade Ounces Measured Mineral Resources 15,002,000 3.74 1,802,000 Indicated Mineral Resources 15,374,000 2.78 1,373,000 Total 30,376,000 3.25 3,175,000
Of particular interest is that the structure that connects the Adamus and Golden Star mineralisation is coincident with soil geochemistry anomalies. On the Adamus website you will see a 200 ppb Au anomaly over this structure while the Golden Star website shows a 100 ppb Au anomaly. The potential within the Adamus ground is naturally along this structure. The larger gold deposits along this structure are located at bends and junctions.
Adamus have much oxide mineralisation. This oxide ores tend to be fine-grained free gold that has been liberated during the weathering of pre-existing sulfides.
Naturally it will be interesting to see what results are being generated and maybe we will see these in the coming weeks.
Do your own research and good luck! ______________________________________________
BTW, "Golden Star" mentioned by Martie is a Canadian stock priced at $US7.00 (GSS-AMEX).
ADU has also holdings in Australia; this includes the "Diamond project" in Kimberley.
Bought at $1.25
Gerry 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
