Name and Location
Southern Ashanti gold project, Ghana.

Project Description
The Southern Ashanti gold project consists of a contiguous block of granted tenure covering about 664 km² on the southern extension of the Ashanti goldbelt, host to over 60-million ounces of gold.

The feasibility study on the project estimates average yearly gold production of about 100 000 oz over the first five-and-a-half years of mine life and is based on the development of a 1,3-million-ton-a-year processing facility, treating the Anwia and Salman deposits over a six-and-a-half-year period. The studied plant configuration consists of crushing, semiautogenous milling, gravity recovery, preleach thickening and a six-stage carbon-in-leach circuit.

Value
$105-million.

Duration
First production is scheduled for the first quarter of 2011.

Client
Adamus Resources and the government of Ghana.

Key Contracts and Suppliers
None stated.

Latest Developments
Work at the site started in October 2009. This included relocating the Salman village, constructing the processing plant and laying a power supply route from the Ghanaian national electricity grid.

Over 60% of the site cleaning work for the relocation has been completed. The site is being surveyed and the company is negotiating compensation for cash crops. After site clearance, construction work is expected to start in the first quarter of 2010.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Adamus Resources, tel + 61 8 9322 5943 fax + 61 8 9322 5907 or email info@adamusresources.com.au.