Adamus Resources Ltd . - Grid Power Connected to Site
December 15 2010 - 8:51PM
PR Newswire (Canada)
PERTH, Western Australia, Dec. 16 /CNW/ -- /NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES/ Nzema Gold Project Highlights -- Another significant
milestone met as grid power is connected to site -- Power purchase
agreement concluded -- Lycopodium commence dry commissioning of
process plant PERTH, Western Australia, Dec. 16 /CNW/ - Adamus
Resources Limited ("Adamus ASX:ADU") is pleased to announce the
connection of grid power and commencement of the commissioning of
the process plant and related facilities for the Nzema Gold Project
in Ghana. Connection to the national grid via an electricity
substation is now providing consistent power to the operations
which will have an average demand of 6.5MW per year. The
12.2km powerline is Adamus-owned and the only source fed off this
line from the Essiama Substation. A standby diesel generator is on
site to provide backup power if required in times of emergency.
Lycopodium Engineering has commenced dry commissioning of the
process plant which will have an initial throughput rate of
2.0Mtpa. The plant configuration consists of the following
processes : -- Single stage crushing -- Single stage SAG milling --
Gravity recovery of free gold -- Pre-leach thickening -- Single
stage leaching -- Six stage CIL circuit Adamus' Managing Director
Mark Connelly said "We continue to advance the construction of the
plant facilities and another major milestone has been achieved by
the team on site. Power is now being delivered through the
dedicated 33.5kV powerline that we have constructed from the
national grid. We have commenced energizing the plant. The work
continues to proceed and is on track for first gold pour in first
quarter 2011." "In addition, we have concluded contract
negotiations with the VRA, (Volta River Authority) for a bulk power
purchase agreement." About Adamus Adamus Resources Limited is an
explorer and mine developer, listed on the Australian Securities
Exchange (ASX), TSX Venture Exchange (TSX-V) and Frankfurt Stock
Exchange Open Market (FSE). The Company's primary focus is on
exploring, realising and expanding the economic potential of the
Southern Ashanti Gold Project in Ghana, West Africa. The
Project encompasses approximately 665km² of tenure in the Ashanti
Gold Belt - host to over 100moz of gold and the Project boasts
excellent access to port and road infrastructure. Ghana is a
stable West African country with a long history and some of the
world's largest gold mining operations. Gold production is
vital to the national economy. Members of the Adamus Board
and management team have proven records in mineral exploration,
project development and project financing. Kind regards ADAMUS
RESOURCES LIMITED (signed) Mark Connelly Managing Director/CEO
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. Caution Regarding Forward Looking Information.
Certain statements included in this announcement, including
information regarding Adamus' plans with respect to its mineral
properties, constitute forward-looking information.
Forward-looking information includes, among other things,
statements regarding expected operations. Forward-looking
information is based upon a number of estimates and assumptions
made by the Company in light of its experience, current conditions
and expectations of future developments, as well as other factors
that the Company believes are appropriate in the
circumstances. While these estimates and assumptions are
considered reasonable by the Company, they are inherently subject
to business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause the
Company's actual results to differ materially from those expressed
or implied in any forward-looking information provided by the
Company, or on behalf of, the Company. Such factors include,
among other things, risks relating to additional funding
requirements, metal prices, exploration, development and operating
risks, competition, production risks, regulatory restrictions,
including environmental regulation and liability and potential
title disputes. Investors are cautioned that forward-looking
information is no guarantee of future performance and, accordingly,
investors are cautioned not to put undue reliance on
forward-looking information due to the inherent uncertainty
therein. Forward-looking information is made as at the date
of this announcement and the Company disclaims any intent or
obligation to update publicly such forward-looking information,
whether as a result of new information, future events or results or
otherwise. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/15/c5708.html
pplease see our website: a
href="http://www.adamusresources.com.au"www.adamusresources.com.au/a
or contact:/p tabletr valign="top"td align="left"br/ Mark Connelly
- Managing Director / CEObr/ +61 8 9322 5943br/ email: a
href="mailto:mark.connelly@adamusresources.com.au"mark.connelly@adamusresources.com.au/a/td/tr/table
p align="justify"iFor media enquiries contact:/i/p p
align="justify"Brian Thornton - Farrington Nationalbr/ +61 2 9332
4448br/ email: a
href="mailto:bt@farrington.com.au"bt@farrington.com.au/a/p
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