THE level of exploration activity being undertaken by junior miners in Africa is increasing, with Burkina Faso in particular coming more into focus as a promising gold producer.
Adamus Resources has announced an all-stock merger with Canada's Endeavour Mining, which will create a new West Africa-focused gold miner producing more than 250,000 ounces each year.
Shares in Perth-based gold explorer Adamus Resources dropped today after announcing it had secured a credit facility for the development of its Southern Ashanti Gold Project in Ghana, enabling it to become a mid-tier gold producer by early 2011.
Perth-based Adamus Resources has unveiled plans to raise about $40 million through a share placement and is currently in talks over a number of offers for bank finance.
The board of West Perth-based Adamus Resources has given the go-ahead for development of its $95 million Southern Ashanti gold project in Ghana, which will generate $124 million for the company in the first two years.
West Perth-based Adamus Resources Ltd has raised a further $1 million through a private placement with Resource Capital Funds, after last month raising over $2 million.
West Perth-based gold explorer Adamus Resources Ltd has raised $7.7 million through a placement to fund the development of its flagship Ghanan gold project, the company has announced.
West Perth-based gold explorer Adamus Resources Ltd will raise approximately $13 million to fund it's current Feasibility Study and to accelerate exploration drilling at its Southern Ashanti Gold Project in Ghana.
West Perth-based gold explorer Adamus Resources Ltd says it expects to complete its Bankable Feasibilty Study on its US$57 million (A$79 million) Ghana gold project, by December this year.
Perth-based Adamus Resources Ltd's share price rose 3 per cent today after the company announced its due diligence on the acquisition of the Anwia South gold project in West Africa had been completed.
Perth junior Adamus Resources Ltd could be producing more than 100,000 ounces a year from its enlarged Southern Ashanti gold project in Ghana by late next year.
