Adamus Resources - November 2011 Pictorial Update
December 01 2011 - 6:49AM
PR Newswire (Canada)
Not for distribution to United States newswire services or for
dissemination in the United States PERTH, Western Australia, Dec.
5, 2011 /CNW/ - During November, Adamus Resources (Adamus) reported
that shareholders voted overwhelmingly in favour of the merger with
Endeavour Mining Corporation on 28 November 2011. The
company's Annual General Meeting was also held on 28 November
2011. OPERATIONS -- Mining during the month focussed on Salman
South 1A along with Salman North 1A and 1B. Tonnes mined during
November were above forecast with additional tonnes added to ROM
stockpiles. -- Stone pitching and gravel sheeting on Access Road
Phase II commenced. Bush clearing and road construction of Access
Road Phase 3 continues. -- Raising of tailing storage facility
north embankment nearing completion. -- Explosives magazine
construction completed and fencing underway. -- Salman Village
construction progressed well with 90% of residential buildings
completed. Resettlement remains on target for mid December 2011.
EXPLORATION -- Salman oxide reverse circulation drill program well
underway with 36 out of 43 holes completed for total metres of
2,978. -- Auger soil sampling commenced on Hotopo and Salman
prospecting licences. -- Following positive drill results from
Nfutu prospect (6kms west of the plantsite), released in October
2011, further infill and extension drilling is planned with pad
preparation underway. CORPORATE -- The Scheme Meeting was held on
28 November 2011. Adamus shareholders voted in favour of the scheme
of arrangement. The meeting results were consistent with the
unanimous recommendation made by the Adamus directors and follow
the approval by Endeavour shareholders of the merger resolution
considered by them at a meeting of Endeavour shareholders, held on
25 November 2011. The Federal Court of Australia subsequently
approved the merger on 2 December 2011. 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. Adamus Resources Limited CONTACT: Mr Ian Cunningham -
Company Secretaryon +61 8 9322 5943
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