On p 29-31 of today's AFR is an article titled, 'Juniors with...

On p 29-31 of today's AFR is an article titled, 'Juniors with strike-it-rich potential' of which Adamus is considered.

The lines on Adamus read...

... Hopeful goldminers distinguished themselves from their base metals counterparts during 2009 with their ability to access capital at a time when funding pools basically ran dry.

Ghana-focussed Adamus Resources made debt funding look easy when it secured a $US70 million loan facility from long-time gold junior supporter Macquarie. Macquarie is also Adamus' biggest single shareholder with a 12 per cent stake. Just last week Adamus tapped the equity markets to make up the shortfall in funding for its $US102 million capital expenditure requirements, raising $30.5 million through a placement of shares and a rights issue.

Adamus expects its flagship project to be up and running by January 2011.

Unlike many of its West Africa-focused peers, Adamus has decided to strike while the gold price is hot - above US$1100 an ounce - and start producing at 100,000 ounces a year, while continuing exploration.

A lot of the $30.5 million raised will be directed into further exploration work.

Other major shareholders in Adamus include Australia's No. 2 gold producer Lihir Gold with 4 per cent and Straits Resources, with a 4 per cent holding.