Adams stepped down in late March 2004 as managing director of Gympie Gold, which was in receivership following a devastating fire at the Southland longwall in New South Wales.
Adams’ new company Eastern Mediterranean will focus on exploration in Central and Eastern Europe, Western Asia and the Middle East.
It said it would be drilling at its top priority project in Cyprus by the end of the year, with five targets outlined. Eastern Mediterranean acquired the project from Australian Oxiana and former Oxiana director Ronnie Beevor is also on the board.
