🕐29.10.09 - 06:47 Uhr
Azumah Resources - Quarterly Activities and Cashflow Report
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AZUMAH RESOURCES - QUARTERLY ACTIVITIES AND CASHFLOW REPORT
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SEPTEMBER 2009
QUARTERLY OPERATIONS REPORT
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Download the full announcement including figures and tables.
Gold Project, North West Ghana* Completed preliminary open pit
optimisation and mining studies that indicated a cash operating
surplus of approximately A$138 million (US$112 million) is
achievable from initial mining of the Kunche and Bepkong
deposits.
* Commenced preliminary mining and development studies for a one
million tonnes per annum mining and gravity / CIL processing
operation.
* Obtained excellent gold recoveries of up to 95.6% from
metallurgical test work on Kunche oxide mineralisation.
* Committed to a major multi-rig 41,000m resource extension,
delineation and discovery drilling campaign.
Corporate* Appointed Michael Atkins as Non-Executive Chairman and
Geoff Jones as Non-Executive Director.
* Managing Director, Stephen Stone, and General Manager, Bernard
Aylward, to continue in current roles.
* Cash balance of $5.52M at end September 2009.
Azumah Resources Ltd (ASX: AZM) is pleased to provide this Report
on operations undertaken during the September 2009 Quarter at its
100%-owned, 3,100 km2, Wa Gold Project (Figure 1).
The Company is focused on developing and operating the first
commercial scale gold mining operation in the emerging north
west Ghana gold province (Figure 2).
During the Quarter, Azumah
completed preliminary open-pit optimisation studies, commenced
preliminary mining and development studies including the
initiation of an environmental impact study and continued
metallurgical test work on samples of Kunche oxide
mineralisation.
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Azumah Resources
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