Dear Shareholder, In the forthcoming Extraordinary General Meeting, scheduled for 23 January 2004, there are two resolutions being put to shareholders for consideration.
These resolutions relate to the Anwia Acquisition and the Additional Tenure Acquisition which were announced to the market on 18 September 2003.
The Board has previously stated that it was seeking new investment opportunities to capitalise on the early exploration success at the Salman Gold Project. The Board has identified the Anwia Acquisition and the Additional Tenure Acquisition as an opportunity to create further scale within its Ghana based operations and identify further exploration opportunities within the Southern Ashanti region.
In addition the Company announced on 24 September 2003 that it had completed applications over a further 241 square kilometers within the Southern Ashanti Trend.
Adamus has aggressively sought to enhance its holdings within the Southern Ashanti Trend which hosts some 37 million ounces in discovered gold deposits within a 50km radius of Salman.
In the event that Shareholder approval is received for the Anwia Acquisition and the Additional Tenure Acquisition, Adamus will take control of a substantial part of the Southern Ashanti Trend.
This regional project is to be known as the Southern Ashanti Gold Project.
The Anwia Acquisition will see Adamus take control of a mineral asset that possesses a number of important attributes including:- • A reported indicated resource of 222,000 ounces located less than 11kms by road from the Salman Gold Project; • Immediate drill targets both along strike and down dip at the Anwia deposit; • Immediate exploration drill target at both the Tommy and Mark prospects; • A number of priority exploration targets situated throughout the highly prospective 33sq km land package.
The Additional Tenure Acquisition will see the company take control of a strategic land package providing Adamus with numerous exploration opportunities including:- • Access to the immediate northern and southern extensions of Salman increasing the strike of the Main Salman Trend from 4.8kms to 11kms; • Extensive and untested soil anomalies extending over a combined strike of 2.3kms; • Multiple exploration targets extending over a further 3kms of strike; • Control of the Akanko gold mine, an historical gold mine which has never been tested using meaningful modern exploration techniques; • An additional 91kms of tenure within the highly prospective Ashanti Gold Belt.
We are pleased to provide the Explanatory Statement to assist you with your consideration of the Notice of Meeting containing the Resolutions. A Proxy voting form is also enclosed. The Directors of the Company encourage you to carefully consider the resolutions in the Notice of Meeting. It is the unanimous recommendation of the Directors that shareholders vote in favour of the resolutions. Yours faithfully Mark Bojanjac Executive Director
Adamus Resources Limited ABN 80 094 543 389 Notice of Extraordinary General Meeting and Explanatory Statements Notice is given that an Extraordinary General Meeting of shareholders of Adamus Resources Limited will be held on Friday 23 January 2004 at 10AM WST at The Chifley on the Terrace, 185 St Georges Terrace, Perth Western Australia 6000, in the Terrace Room. The Explanatory Statement and Proxy Form accompanying this Notice of Meeting are hereby incorporated in, and form part of, this Notice of Meeting. AGENDA The following resolutions to be considered at the Meeting are explained in the attached Explanatory Statement. Certain terms used in this document are defined in Part 5 of the attached Explanatory Statement.
Members are invited to consider each of the resolutions below, and if thought fit, pass each of Resolution 1 to 2 (with or without amendment) as ordinary resolutions. 1. Resolution 1 - Anwia Acquisition “For the purposes of ASX Listing Rule 10.1 and 10.11 and section 208(1) and item 7 of section 611 of the Corporations Act and for all other purposes, approval is hereby given to: a) the terms of the Anwia Sale Agreement, a copy of which has been signed by the Chairman of this meeting for the purposes of identification and details of which are particularised in the Explanatory Statement; b) the issue and allotment to Semafo in accordance with the terms of the Anwia Sale Agreement, of up to 5,000,000 Shares in the Company in part consideration for the acquisition of the entire issued capital of Ghana Co; c) the irrevocable appointment by Semafo of Robert Charles Gardner as voting proxy over the shares to be issued to Semafo, in accordance with the terms and conditions of the Anwia Sale Agreement ; and d) the granting by Semafo of pre-emptive rights to Robert Charles Gardner over the shares to be issued to Semafo, in accordance with the terms and conditions of the Anwia Sale Agreement.”
2. Resolution 2 - Additional Tenure Acquisitions “That, subject to the passing of Resolution 1, for the purposes of ASX Listing Rules 10.1 and 10.11 and section 208(1) and item 7 of section 611 of the Corporations Act and for all other purposes, approval is hereby given to: a) the terms of the ATA Sale Agreement, a copy of which has been signed by the Chairman of this meeting for the purposes of identification and details of which are particularised in the Explanatory Statement; b) the issue and allotment and payment to Hightime in accordance with the terms of the ATA Sale Agreement, of a total of 5,000,000 Shares in the Company and $US350,000 respectively in consideration for the acquisition of the entire issued capital of Hightime Gh
ADU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
