Aus Palladin Vent. wurde nun Palladin Mining!
15.02.05 13:43
#1
bradetti
Aus Palladin Vent. wurde nun Palladin Mining!
A Steel of a Deal
If you have very wondered what kind of a fool would be driving the wilds of Western Utah on Superbowl Sunday, collecting both a speeding ticket and a flat tire, all in the faint hope of being first to announce finding another supervalue stock, I can answer in a word.
Me.
....
The last deal this good was when the Dutch stiffed the Indians out of Manhattan for $24 bucks worth of beads. However, on second thoughts after considering the taxes in NYC and the inhabitants in general, maybe the Indians got the better part of the deal.
....
It's the best deal I've seen in a long time. Not just because he got a major mine and facilities for cents on the dollar but because the price of iron is rocketing.
....
It's easy to see the high-grade iron ore in the stripped areas. This is a mine with a mine plan, a permit and it's ready to rock and roll.
....
Palladon owns 65% of the JV and Western Utah Copper owns 35%. It's a great deal for both parties. Palladon's 65% interest is a giant portion of a giant project.
....
George Young is going to build a billion dollar company with this project. When he told me about the project and I read all the reports he supplied, I immediately went out to buy some stock. I wouldn't chase the stock and you shouldn't either. But with a market cap of $11 million Canadian, the market doesn't get it. I don't expect any substantial dilution to advance the project and when they get into production, even if just shipping lower grade ore, the market is going to put a far higher valuation on the shares. If you want to own it, be careful, I fully expect it to rocket higher and then come back some.
Diese Woche stehen Gespraeche bzgl. der Fianzierung des Projektes auf dem Plan. Man kann warten, bis das durch ist, aber wer auf Alles geht sollte es nicht abwarten.
Palladon kostet heute 8mio USDollar. Das Projekt ist mehrere Milliarden Dollar wert. Was fehlt ist die Unterschrift unter der Finanzierung und das Gebiet gehoert Palladon.
If you have very wondered what kind of a fool would be driving the wilds of Western Utah on Superbowl Sunday, collecting both a speeding ticket and a flat tire, all in the faint hope of being first to announce finding another supervalue stock, I can answer in a word.
Me.
....
The last deal this good was when the Dutch stiffed the Indians out of Manhattan for $24 bucks worth of beads. However, on second thoughts after considering the taxes in NYC and the inhabitants in general, maybe the Indians got the better part of the deal.
....
It's the best deal I've seen in a long time. Not just because he got a major mine and facilities for cents on the dollar but because the price of iron is rocketing.
....
It's easy to see the high-grade iron ore in the stripped areas. This is a mine with a mine plan, a permit and it's ready to rock and roll.
....
Palladon owns 65% of the JV and Western Utah Copper owns 35%. It's a great deal for both parties. Palladon's 65% interest is a giant portion of a giant project.
....
George Young is going to build a billion dollar company with this project. When he told me about the project and I read all the reports he supplied, I immediately went out to buy some stock. I wouldn't chase the stock and you shouldn't either. But with a market cap of $11 million Canadian, the market doesn't get it. I don't expect any substantial dilution to advance the project and when they get into production, even if just shipping lower grade ore, the market is going to put a far higher valuation on the shares. If you want to own it, be careful, I fully expect it to rocket higher and then come back some.
Diese Woche stehen Gespraeche bzgl. der Fianzierung des Projektes auf dem Plan. Man kann warten, bis das durch ist, aber wer auf Alles geht sollte es nicht abwarten.
Palladon kostet heute 8mio USDollar. Das Projekt ist mehrere Milliarden Dollar wert. Was fehlt ist die Unterschrift unter der Finanzierung und das Gebiet gehoert Palladon.
18 Postings ausgeblendet.
20.04.05 16:27
#20
sebmichl
Und wieder ein Schritt vorwärts
Palladon Prepares for Resumed Operations at Utah Iron Mine, Appoints New Director
BROOMFIELD, COLORADO, Apr 20, 2005 (CCNMatthews via COMTEX)
Palladon Ventures Ltd. (TSX VENTURE:PLL) (" Palladon" or, the " Company" ) is pleased to announce that it posted the required $1.3 million reclamation bond through St. Paul Travelers and completed the final closing of the purchase of the Comstock/Mountain Lion Iron Project in Utah (the " Iron Project" ) on April 18, 2005. The Company is now preparing final arrangements for the commencement of operations on the Iron Project including the updating of the feasibility study, bulk sampling, and renovation of surface facilities. Palladon will obtain all the maps, records, assay data and drill core from the seller, and will immediately begin taking representative bulk samples from the exposed benches of ore for complete analyses. The results will be used in negotiations with potential customers for direct shipping of ore. Sample materials will also be used in metallurgical test work to determine the most effective methods of beneficiation.
The Company is also pleased to announce the appointment of Donald G. Foot, Jr. as a Director. Mr. Foot will also serve as Vice President of Palladon Iron Corporation, the Company's newly-formed subsidiary. Palladon Iron is a Utah corporation formed for the purpose of holding and operating the Iron Project. Mr. Foot has been involved in the minerals industry for 30 years as a metallurgical engineer specializing in magnetic separation and other aspects of mineral processing. He holds a Masters in Engineering Administration and a B.S. in Metallurgical Engineering from the University of Utah. Mr. Foot has been president of Paradise Development Corporation, Worldwide Director of Minerals for EIMCO Process Equipment Company, President and CEO of Pyramid Resources, and a Research Supervisor for the U.S. Bureau of Mines. Mineral processing technologies developed by Mr. Foot, especially in column flotation, are used throughout the world. He has authored and co-authored more than 50 technical publications, holds nine patents in mineral processing, and has made numerous technical presentations worldwide.
Palladon president George Young said " We are excited to have all aspects of the closing and the posting of the bond completed. We are also pleased that Don Foot has joined our management team. He brings a wealth of experience in mineral processing and project management that we will utilize in both our iron and copper operations. We expect to proceed rapidly with the development of the project now that the acquisition is completed, with an emphasis in the short term of generating a cash flow from ore purchase contracts."
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
George S. Young, President, Director
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
(604) 484-7088
(604) 484-7044 (FAX)
info@palladonventures.com
http://www.palladonventures.com
BROOMFIELD, COLORADO, Apr 20, 2005 (CCNMatthews via COMTEX)
Palladon Ventures Ltd. (TSX VENTURE:PLL) (" Palladon" or, the " Company" ) is pleased to announce that it posted the required $1.3 million reclamation bond through St. Paul Travelers and completed the final closing of the purchase of the Comstock/Mountain Lion Iron Project in Utah (the " Iron Project" ) on April 18, 2005. The Company is now preparing final arrangements for the commencement of operations on the Iron Project including the updating of the feasibility study, bulk sampling, and renovation of surface facilities. Palladon will obtain all the maps, records, assay data and drill core from the seller, and will immediately begin taking representative bulk samples from the exposed benches of ore for complete analyses. The results will be used in negotiations with potential customers for direct shipping of ore. Sample materials will also be used in metallurgical test work to determine the most effective methods of beneficiation.
The Company is also pleased to announce the appointment of Donald G. Foot, Jr. as a Director. Mr. Foot will also serve as Vice President of Palladon Iron Corporation, the Company's newly-formed subsidiary. Palladon Iron is a Utah corporation formed for the purpose of holding and operating the Iron Project. Mr. Foot has been involved in the minerals industry for 30 years as a metallurgical engineer specializing in magnetic separation and other aspects of mineral processing. He holds a Masters in Engineering Administration and a B.S. in Metallurgical Engineering from the University of Utah. Mr. Foot has been president of Paradise Development Corporation, Worldwide Director of Minerals for EIMCO Process Equipment Company, President and CEO of Pyramid Resources, and a Research Supervisor for the U.S. Bureau of Mines. Mineral processing technologies developed by Mr. Foot, especially in column flotation, are used throughout the world. He has authored and co-authored more than 50 technical publications, holds nine patents in mineral processing, and has made numerous technical presentations worldwide.
Palladon president George Young said " We are excited to have all aspects of the closing and the posting of the bond completed. We are also pleased that Don Foot has joined our management team. He brings a wealth of experience in mineral processing and project management that we will utilize in both our iron and copper operations. We expect to proceed rapidly with the development of the project now that the acquisition is completed, with an emphasis in the short term of generating a cash flow from ore purchase contracts."
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
George S. Young, President, Director
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
(604) 484-7088
(604) 484-7044 (FAX)
info@palladonventures.com
http://www.palladonventures.com
13.07.05 13:33
#22
sebmichl
Ab Freitag sind die ersten Arbeiter auf der Mine,
am 25.07 beginnt die Produktion.
Damit ist George Young gerade auf Roadshow in Deutschland und der Schweiz.
http://www.palladonmining.com/i/pdf/palladongeneral7.8.05.pdf
Aus dem Review:
> $15-20 M Profit Margin on 1 M Tons per Year <
> First Shipment - Late Summer 2005! <
Spätestens im Herbst ist Palladon mit min. 50% an einer produzierenden
Eisenmine beteiligt. Rechnet Euch selbst aus, welche Bewertung hier
fair ist. Ich wette Ihr kommt auf einen gaaaaanz anderen Wert als den,
der Momentan bezahlt werden muss.
Seit drei Tagen erhöhtes Volumen. Also haut rein.
Damit ist George Young gerade auf Roadshow in Deutschland und der Schweiz.
http://www.palladonmining.com/i/pdf/palladongeneral7.8.05.pdf
Aus dem Review:
> $15-20 M Profit Margin on 1 M Tons per Year <
> First Shipment - Late Summer 2005! <
Spätestens im Herbst ist Palladon mit min. 50% an einer produzierenden
Eisenmine beteiligt. Rechnet Euch selbst aus, welche Bewertung hier
fair ist. Ich wette Ihr kommt auf einen gaaaaanz anderen Wert als den,
der Momentan bezahlt werden muss.
Seit drei Tagen erhöhtes Volumen. Also haut rein.
14.07.05 07:44
#23
sebmichl
Unternehmensanalyse
Palladon
Sehr konservativ, aber selbst die sehen auf Basis der aktuellen Kurse rund 50% Potenzial. In der Analyse wird allerdings mit 1Mio Tonnen pro Jahr gerechnet, inzwischen wurde das Ziel vom Management auf eine Jahresmenge von 3Mio angehoben.
Wie gesagt, rechnet es Euch selber aus. Welche Bewertung hier fällig wäre.
Sehr konservativ, aber selbst die sehen auf Basis der aktuellen Kurse rund 50% Potenzial. In der Analyse wird allerdings mit 1Mio Tonnen pro Jahr gerechnet, inzwischen wurde das Ziel vom Management auf eine Jahresmenge von 3Mio angehoben.
Wie gesagt, rechnet es Euch selber aus. Welche Bewertung hier fällig wäre.
15.07.05 07:44
#24
sebmichl
Es geht los. Ab heute ein Miner!
Mit min. 10Mio/Jahr Gewinn und einer aktuellen MarketCap von 22Mio.
Palladon picks Gilbert for contract mining at Comstock
2005-07-14 21:31 ET - News Release
Mr. George Young reports
Palladon Ventures Ltd. has selected Gilbert Development to conduct contract mining at the Comstock iron mine in Iron county, Utah. Gilbert will mobilize immediately to commence first phase mining activities. Palladon plans to produce iron ore concentrate for sale to domestic and international customers.
Gilbert has been a mining contractor for over 30 years and has extensive expertise in crushing and magnetic separation. In 1983, the firm began contract mining for USX and Geneva Steel on the Comstock iron mine. Between 1983 and 1997, Gilbert moved over 50 million tons of iron ore and waste from the mine site. Following mobilization, Gilbert will commence mining high-grade zones of the pit in order to build stockpiles for further processing and shipment.
Don Foot, vice-president of Palladon Iron, said: " Gilbert brings to Palladon intimate knowledge and experience in the Comstock iron project. Their extensive year-round experience in mining and loading at the site will provide great assistance in the resumption of mining activities and will enhance our ability to provide consistent product to the marketplace. Gilbert also holds the highest rating in safety from MSHA and OSHA, a point that is very important to Palladon."
Qualified person and quality assurance and control
Donald G. Foot, who holds a degree in metallurgical engineering from the University of Utah, has over 30 years of experience in mineral processing, beneficiation equipment design, marketing and sales, and executive management. He has acted as a qualified person as defined in National Instrument 43-101 for the purpose of the technical release of information contained herein relating to the Comstock iron project.
Palladon picks Gilbert for contract mining at Comstock
2005-07-14 21:31 ET - News Release
Mr. George Young reports
Palladon Ventures Ltd. has selected Gilbert Development to conduct contract mining at the Comstock iron mine in Iron county, Utah. Gilbert will mobilize immediately to commence first phase mining activities. Palladon plans to produce iron ore concentrate for sale to domestic and international customers.
Gilbert has been a mining contractor for over 30 years and has extensive expertise in crushing and magnetic separation. In 1983, the firm began contract mining for USX and Geneva Steel on the Comstock iron mine. Between 1983 and 1997, Gilbert moved over 50 million tons of iron ore and waste from the mine site. Following mobilization, Gilbert will commence mining high-grade zones of the pit in order to build stockpiles for further processing and shipment.
Don Foot, vice-president of Palladon Iron, said: " Gilbert brings to Palladon intimate knowledge and experience in the Comstock iron project. Their extensive year-round experience in mining and loading at the site will provide great assistance in the resumption of mining activities and will enhance our ability to provide consistent product to the marketplace. Gilbert also holds the highest rating in safety from MSHA and OSHA, a point that is very important to Palladon."
Qualified person and quality assurance and control
Donald G. Foot, who holds a degree in metallurgical engineering from the University of Utah, has over 30 years of experience in mineral processing, beneficiation equipment design, marketing and sales, and executive management. He has acted as a qualified person as defined in National Instrument 43-101 for the purpose of the technical release of information contained herein relating to the Comstock iron project.
03.08.05 08:09
#25
sebmichl
Der erste Contract steht !
Der erste Contract steht.
Damit ist Palladon nun eine Firma mit einem Umsatz von rund 25Mio US Dollar.
Bei einem geschätzten Gewinn von ca. 15Mio.
Und das bei einer aktuellen Bewertung von rund 18Mio US Dollar.
Die Meldung kam gestern Nachbörslich. Ihr habt also Zeit bis 15.30 Uhr
noch günstig einzusteigen.
Palladon Ventures Ltd. Announces Contract to Sell One Million Metric Tons of Iron Ore
BROOMFIELD, COLORADO--(CCNMatthews - Aug. 2, 2005) - Palladon Ventures Ltd. (TSX VENTURE:PLL) (the " Company" ) announced that it has entered into a contract to sell one million metric tons of iron ore over the twelve month period commencing September, 2005 to a Chinese purchaser. Ore will be mined, crushed and magnetically treated from the Comstock/Mountain Lion Iron Project in Utah, transported by rail over the Union Pacific railroad running adjacent to the mine, and loaded on the customer's ships at the port in Richmond, California for shipment to Chinese ports. Palladon is making final arrangements with its mining contractor, Gilbert Engineering, to commence mining and treatment of ores in August, and with the railroad and port, to commence shipment as soon as possible thereafter.
The contract provides for standard commercial terms including the posting of a letter of credit by the customer, and pricing is in line with the current strong market for iron ores in China. Specific pricing terms of the contract have not been disclosed at this time, pending additional negotiations on other supply contracts being discussed. Based on mining and treatment costs and the quoted costs for shipping and handling, Palladon expects to generate substantial cash flow from the contract.
Palladon President George Young said, " The sales contract represents a significant step for the Company. Revenues from this contract will help strengthen our balance sheet, and in turn will enable us to advance with feasibility work on the iron project in evaluating other avenues of development. We will also be better enabled to continue with our exploration and development work at the Western Utah Copper District and on our gold projects in Nevada and Argentina."
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
George S. Young, President, Director
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents hereof.
CONTACT INFORMATION
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
(604) 484-7088
(604) 484-7044 (FAX)
info@palladonventures.com
www.palladonventures.com
Damit ist Palladon nun eine Firma mit einem Umsatz von rund 25Mio US Dollar.
Bei einem geschätzten Gewinn von ca. 15Mio.
Und das bei einer aktuellen Bewertung von rund 18Mio US Dollar.
Die Meldung kam gestern Nachbörslich. Ihr habt also Zeit bis 15.30 Uhr
noch günstig einzusteigen.
Palladon Ventures Ltd. Announces Contract to Sell One Million Metric Tons of Iron Ore
BROOMFIELD, COLORADO--(CCNMatthews - Aug. 2, 2005) - Palladon Ventures Ltd. (TSX VENTURE:PLL) (the " Company" ) announced that it has entered into a contract to sell one million metric tons of iron ore over the twelve month period commencing September, 2005 to a Chinese purchaser. Ore will be mined, crushed and magnetically treated from the Comstock/Mountain Lion Iron Project in Utah, transported by rail over the Union Pacific railroad running adjacent to the mine, and loaded on the customer's ships at the port in Richmond, California for shipment to Chinese ports. Palladon is making final arrangements with its mining contractor, Gilbert Engineering, to commence mining and treatment of ores in August, and with the railroad and port, to commence shipment as soon as possible thereafter.
The contract provides for standard commercial terms including the posting of a letter of credit by the customer, and pricing is in line with the current strong market for iron ores in China. Specific pricing terms of the contract have not been disclosed at this time, pending additional negotiations on other supply contracts being discussed. Based on mining and treatment costs and the quoted costs for shipping and handling, Palladon expects to generate substantial cash flow from the contract.
Palladon President George Young said, " The sales contract represents a significant step for the Company. Revenues from this contract will help strengthen our balance sheet, and in turn will enable us to advance with feasibility work on the iron project in evaluating other avenues of development. We will also be better enabled to continue with our exploration and development work at the Western Utah Copper District and on our gold projects in Nevada and Argentina."
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
George S. Young, President, Director
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents hereof.
CONTACT INFORMATION
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
(604) 484-7088
(604) 484-7044 (FAX)
info@palladonventures.com
www.palladonventures.com
03.08.05 12:16
#27
P.Zocker
Habe zu 62 noch bekommen
Realtime:
12:13:23 0,680 +23,64%
+0,130
Taxe Stück
Bid: 12:13:40 0,650 10.000
Ask: 12:13:40 0,700 10.000
Man spricht im Nachbar Board schon
von Kursen Heute um den 1.- €.
Ist wohl eine Hammer News.
Und das mir keiner käuft. Man könnte
ja einen fetten Gewinn einfahren.
12:13:23 0,680 +23,64%
+0,130
Taxe Stück
Bid: 12:13:40 0,650 10.000
Ask: 12:13:40 0,700 10.000
Man spricht im Nachbar Board schon
von Kursen Heute um den 1.- €.
Ist wohl eine Hammer News.
Und das mir keiner käuft. Man könnte
ja einen fetten Gewinn einfahren.
03.08.05 13:10
#29
P.Zocker
Es dauert
bei den Arivanern immer etwas
länger. Und die gehen auch nie
dann rein wenn man den Tip gibt
sondern erst wenn das Teil 10
oder 20 % vorne liegt.
Und wehe es geht dann zurück.
Dann ist der Tip Geber der Buhmann.
Wären sie gleich rein wären sie ja
von Anfang an im Plus.
Aber nei die machen es halt anderst.
Verstehe wer will aber ich nicht.
länger. Und die gehen auch nie
dann rein wenn man den Tip gibt
sondern erst wenn das Teil 10
oder 20 % vorne liegt.
Und wehe es geht dann zurück.
Dann ist der Tip Geber der Buhmann.
Wären sie gleich rein wären sie ja
von Anfang an im Plus.
Aber nei die machen es halt anderst.
Verstehe wer will aber ich nicht.
29.08.05 00:09
#37
rastaone
Wow...
Palladon converts Luxor financing to term loan
Palladon Ventures Ltd (TSX-V:PLL)
Shares Issued 29,243,038
Last Close 8/26/2005 $0.62
Friday August 26 2005 - News Release
Mr. George Young reports
PALLADON VENTURES LTD. ANNOUNCES RESTRUCTURED FINANCING AND IRON PROJECT TRANSACTIONS
Palladon Ventures Ltd. has agreed with Luxor Capital Partners LP, subject to standard closing conditions and exchange approval, if required, to restructure the pending transactions covering the Mountain Lion/Comstock iron project. The pending convertible debenture financing will be withdrawn, and the parties will restructure the $10.3-million (U.S.) plus accrued interest, closing costs and other advances outstanding under the bridge loan, which was used to acquire the project, into a term loan at an interest rate of 9.25 per cent payable over five years. As a part of the restructuring, Luxor will acquire 50 per cent of the project, 35 per cent from Palladon's joint venture partner Western Utah Copper Company and 15 per cent from Palladon. Consideration for the 50-per-cent purchase will include $3.0-million (U.S.) in direct acquisition cost and $600,000 (U.S.) in forgiveness of legal and financing fees. In addition, Luxor will contribute $500,000 (U.S.) of equity to the project and advance $1.4-million (U.S.) for general corporate purposes under the new term loan (bringing the total amount outstanding under the term loan to $12.75-million (U.S.)). Upon consummation of the transaction, Palladon will use a portion of the $1.4-million (U.S.) committed to general corporate purposes to fully vest in the Western Utah copper project. Additional loan proceeds will be set aside to finance the company's pro rata equity contribution to the project. Luxor will also be granted two-year warrants to purchase Palladon common stock as follows: 1.5 million shares at 82 cents, one million shares at 92 cents and one million shares at $1.
Proceeds of the transaction will enable further advancement on the iron project. Palladon recently signed an agreement to sell one million metric tonnes of iron ore over a 12-month period to a Chinese purchaser, and intends to service the term loan through proceeds of iron ore sales.
Accordingly, the company will not be placing shareholder resolution item 7 and item 8 before shareholders at the annual general meeting Monday, Aug. 29.
Palladon president George Young said: " This represents a major step forward for the company and the iron project. We have been able to acquire a first-class portfolio of mineral projects, have solidified the ownership and capital structure of the company with limited dilution, and have secured a committed long-term financial partner in Luxor Capital."
© 2005 Canjex Publishing Ltd.
Palladon Ventures Ltd (TSX-V:PLL)
Shares Issued 29,243,038
Last Close 8/26/2005 $0.62
Friday August 26 2005 - News Release
Mr. George Young reports
PALLADON VENTURES LTD. ANNOUNCES RESTRUCTURED FINANCING AND IRON PROJECT TRANSACTIONS
Palladon Ventures Ltd. has agreed with Luxor Capital Partners LP, subject to standard closing conditions and exchange approval, if required, to restructure the pending transactions covering the Mountain Lion/Comstock iron project. The pending convertible debenture financing will be withdrawn, and the parties will restructure the $10.3-million (U.S.) plus accrued interest, closing costs and other advances outstanding under the bridge loan, which was used to acquire the project, into a term loan at an interest rate of 9.25 per cent payable over five years. As a part of the restructuring, Luxor will acquire 50 per cent of the project, 35 per cent from Palladon's joint venture partner Western Utah Copper Company and 15 per cent from Palladon. Consideration for the 50-per-cent purchase will include $3.0-million (U.S.) in direct acquisition cost and $600,000 (U.S.) in forgiveness of legal and financing fees. In addition, Luxor will contribute $500,000 (U.S.) of equity to the project and advance $1.4-million (U.S.) for general corporate purposes under the new term loan (bringing the total amount outstanding under the term loan to $12.75-million (U.S.)). Upon consummation of the transaction, Palladon will use a portion of the $1.4-million (U.S.) committed to general corporate purposes to fully vest in the Western Utah copper project. Additional loan proceeds will be set aside to finance the company's pro rata equity contribution to the project. Luxor will also be granted two-year warrants to purchase Palladon common stock as follows: 1.5 million shares at 82 cents, one million shares at 92 cents and one million shares at $1.
Proceeds of the transaction will enable further advancement on the iron project. Palladon recently signed an agreement to sell one million metric tonnes of iron ore over a 12-month period to a Chinese purchaser, and intends to service the term loan through proceeds of iron ore sales.
Accordingly, the company will not be placing shareholder resolution item 7 and item 8 before shareholders at the annual general meeting Monday, Aug. 29.
Palladon president George Young said: " This represents a major step forward for the company and the iron project. We have been able to acquire a first-class portfolio of mineral projects, have solidified the ownership and capital structure of the company with limited dilution, and have secured a committed long-term financial partner in Luxor Capital."
© 2005 Canjex Publishing Ltd.
27.09.05 07:29
#40
sebmichl
Und da ist sie...
Palladon Ventures Ltd (C-PLL) - News Release
Palladon secures new long-term loan for iron project
2005-09-26 20:03 ET - News Release
Shares issued 30,661,633
PLL Close 2005-09-26 C$ 0.80
Mr. George Young reports
PALLADON VENTURES LTD. CLOSES LONG TERM LOAN TO REFINANCE IRON PROJECT ACQUISITION
Palladon Ventures Ltd. and Luxor Capital Partners, LP have completed and closed a secured long-term loan in the principal amount of $12.75-million (U.S.), to refinance the acquisition of the Comstock/Mountain Lion iron project in Utah, as previously announced. The loan has an interest rate of 9.25 per cent per year, calculated quarterly, and has a five-year term. The loan proceeds will be applied toward repayment of the outstanding bridge loan provided by Luxor that was used for the iron project acquisition (upon confirmation of certain title matters relating to a mortgage securing the loan), with the balance to be applied toward working capital, out of which the company will contribute $500,000 (U.S.) for working capital for Palladon Iron Corp. Luxor has also provided a $500,000 (U.S.) contribution to the iron company for the operation of the iron project.
As consideration for granting the loan, the company has granted to Luxor 2,357,137 share purchase warrants. The warrants shall be exercisable at 62 cents per share for a period of two years.
In addition, Luxor has acquired a 50-per-cent interest in the iron company with the payment of $3-million (U.S.) and the forgiveness of fees and expenses which would otherwise be payable under the loan. Out of the proceeds, the company has paid a $500,000 (U.S.) finder's fee to Western Utah Copper Co. the company's former joint venture partner for the iron project, and Western Utah Copper Co. has provided a release of any further claims or interest in the iron project or the iron company. The company anticipates repayment of the loan from revenue that it will receive from the operation of the iron project, including revenue under its sales contract for the sale of iron ore to China that was announced in Stockwatch on Aug. 2, 2005.
Palladon secures new long-term loan for iron project
2005-09-26 20:03 ET - News Release
Shares issued 30,661,633
PLL Close 2005-09-26 C$ 0.80
Mr. George Young reports
PALLADON VENTURES LTD. CLOSES LONG TERM LOAN TO REFINANCE IRON PROJECT ACQUISITION
Palladon Ventures Ltd. and Luxor Capital Partners, LP have completed and closed a secured long-term loan in the principal amount of $12.75-million (U.S.), to refinance the acquisition of the Comstock/Mountain Lion iron project in Utah, as previously announced. The loan has an interest rate of 9.25 per cent per year, calculated quarterly, and has a five-year term. The loan proceeds will be applied toward repayment of the outstanding bridge loan provided by Luxor that was used for the iron project acquisition (upon confirmation of certain title matters relating to a mortgage securing the loan), with the balance to be applied toward working capital, out of which the company will contribute $500,000 (U.S.) for working capital for Palladon Iron Corp. Luxor has also provided a $500,000 (U.S.) contribution to the iron company for the operation of the iron project.
As consideration for granting the loan, the company has granted to Luxor 2,357,137 share purchase warrants. The warrants shall be exercisable at 62 cents per share for a period of two years.
In addition, Luxor has acquired a 50-per-cent interest in the iron company with the payment of $3-million (U.S.) and the forgiveness of fees and expenses which would otherwise be payable under the loan. Out of the proceeds, the company has paid a $500,000 (U.S.) finder's fee to Western Utah Copper Co. the company's former joint venture partner for the iron project, and Western Utah Copper Co. has provided a release of any further claims or interest in the iron project or the iron company. The company anticipates repayment of the loan from revenue that it will receive from the operation of the iron project, including revenue under its sales contract for the sale of iron ore to China that was announced in Stockwatch on Aug. 2, 2005.
21.10.05 19:33
#41
bradetti
Hallooooo!
Gibts hier noch andere Palladon-Investierte??? Will grad mal meinen Thread wieder bissel aufleben lassen. Hab lange nicht mehr nach dem Kurs geschaut, aber was ich sehe gefällt mir und wenn ich mir die Unternehmensaussichten ansehe komme ich aus dem Grinsen nicht mehr raus 
Chart-technisch sieht das Ganze ja auch irgendwie schön aus 
Naja, bis denne und Gruß an alle Mitinvestierten....
02.11.05 09:16
#42
sebmichl
Palladon Announces Gold Assay Results
http://biz.yahoo.com/bw/051102/16497.html?.v=1
Palladon Announces Gold Assay Results from Caldera Project, Nevada
Wednesday November 2, 1:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 2, 2005--Palladon Ventures Ltd. (TSX VENTURE:PLL - News) today announced the results of rock chip sampling at its Caldera project located in west-central Nevada, in the vicinity of the producing Round Mountain mine and the past-producing Paradise Peak mine. It is one of the five Great Basin gold projects being explored by Palladon for gold potential, along with the gold projects being explored in Argentina. The geology of the Caldera property consists of a series of intermediate to felsic tuffs, locally cut by small felsic subvolcanic intrusives. The project area displays epithermal volcanic hosted mineralization with gold and silver hosted in veins, faults, silicified zones, breccia zones, and stockwork-mineralized areas. Previous work by other companies has returned encouraging results but identified no coherent mineralized zones. In previous data available to Palladon, surface rock chip sampling had returned values of up to 37 grams of gold (1.08 opt) and up to 847 grams of silver (24.7 opt) per ton. Highlights of prior drilling data include intercepts of 3 meters of 38 grams gold per ton (1.1 opt) and 7.6 meters of 8 grams per ton (0.243 opt) in separate drill holes. Neither of these intercepts has been significantly constrained by later drilling.
ADVERTISEMENT
The field work to date by Palladon has focused on the western half of the project area and attempted to better define basic geology and controls on the previously identified mineralization through mapping and rock chip sampling with over 330 rock samples collected as part of this effort. The majority of these samples were selected to determine which veins, faults, or other structures control the epithermal mineralization. Exposures in most areas did not allow for continuous sampling to ascertain full widths of mineralized zones.
Assays and geologic observations returned very positive results. One hundred and five (105) of the samples contained potentially ore-grade values of greater than 0.34 grams gold per ton (0.01 opt). Four samples contained bonanza gold grades: 193. 5 grams (5.65 opt), 63 grams (1.84 opt), 58.3 grams (1.7 opt), and 48.9 grams (1.4 opt) per ton gold, the highest rock chip values collected to date on the property. The first of these samples also contained 6370 grams of silver (186 opt Ag) and the second carried 1510 grams of silver (44 opt). These two samples were collected from float material but are believed to have not moved far from a nearby subcrop source. Nearby samples carry from 0.2 to 63 grams of gold along a strike length of 335 meters. The other two bonanza samples were from narrow (1 foot or less) veins or mineralized breccias. None of these bonanza veins appears to have been drill tested. In addition to these veins, several other mineralized structural zones were recognized, which are either untested by drilling or poorly tested. These structural zones are up to at least 500 meters long and could be up to 25 meters wide in places. The highest values on these three structural zones contain a minimum of 3 grams (0.09 opt) of gold with a maximum of 8 grams (0.23 opt) of gold per ton. The average of samples within 15 meters of these structures is 1.4 grams (0.04 opt) gold and 58 grams (1.7 ounces) of silver per ton.
Palladon recently acquired data from previous operators including 77 drill hole summaries, 193 anomalous rock chips (greater than 200 ppb Au), and soil anomaly areas, mostly from the eastern side of the project area. The data was derived from work conducted by Exxon, Noranda, and Homestake Mining between 1983 and 1997. Highlights of this data set include a hole drilled near the high-grade intercept noted above that bottomed in 1 meter of 32.9 grams (0.96 opt) of gold at 46 meters. On the eastern side of the property, another hole intersected 4.6 meters of 9.6 grams (0.28 opt Au) of gold at 21 meters within 29 meters of 1 gram (0.03 opt) gold starting at the surface; follow-up drilling near this hole returned weaker mineralized intervals but the overall importance of this hole has not been fully evaluated.
These early results are very encouraging. Most significantly, the new data supports the high-grade target concept with new bonanza grade values. Also, it is apparent that despite the amount of prior work, several attractive targets remain to be tested. A two phase drill program is currently being planned for execution in the spring and summer of 2006 and considerably more field work is planned for the coming months. Forty-five new claims have also been added to the property position.
Palladon CEO George Young said, "We continue with our gold exploration work both in the Great Basin of Nevada and Utah as well as in Patagonia and in Salta province, Argentina. We believe we have excellent projects on both continents for prospective gold exploration. We expect to be in a very unique position as a junior gold explorer. As we execute our business plan in developing our iron and copper projects, we will potentially have the ability to finance our gold exploration without significantly diluting shareholders going forward."
Qualified Person and Quality Assurance and control
Mr. Rick Russell, B.Sc, Geology, who has over 36 years experience in the mining industry, is a Licensed Geologist in the State of Washington (#205), and is a member of S.E.G, is acting as the qualified person as defined in National Instrument 43-101 for the purpose of the technical release of information contained herein. Mr. Russell is an independent consultant and does not have any ownership or financial interest in Palladon Ventures Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
George S. Young, Chief Executive Officer, Director
Assays quoted in this news release were performed by ALS Chemex Laboratories of Reno,Nevada.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Palladon's future plans, intentions, objectives or goals, including words to the effect that Palladon or management expects a stated condition or result to occur. Since forward- looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not take respon sibility for the adequacy or accuracy of the contents hereof.
Palladon Ventures Ltd. (TSX VENTURE:PLL - News)
Palladon Announces Gold Assay Results from Caldera Project, Nevada
Wednesday November 2, 1:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 2, 2005--Palladon Ventures Ltd. (TSX VENTURE:PLL - News) today announced the results of rock chip sampling at its Caldera project located in west-central Nevada, in the vicinity of the producing Round Mountain mine and the past-producing Paradise Peak mine. It is one of the five Great Basin gold projects being explored by Palladon for gold potential, along with the gold projects being explored in Argentina. The geology of the Caldera property consists of a series of intermediate to felsic tuffs, locally cut by small felsic subvolcanic intrusives. The project area displays epithermal volcanic hosted mineralization with gold and silver hosted in veins, faults, silicified zones, breccia zones, and stockwork-mineralized areas. Previous work by other companies has returned encouraging results but identified no coherent mineralized zones. In previous data available to Palladon, surface rock chip sampling had returned values of up to 37 grams of gold (1.08 opt) and up to 847 grams of silver (24.7 opt) per ton. Highlights of prior drilling data include intercepts of 3 meters of 38 grams gold per ton (1.1 opt) and 7.6 meters of 8 grams per ton (0.243 opt) in separate drill holes. Neither of these intercepts has been significantly constrained by later drilling.
ADVERTISEMENT
The field work to date by Palladon has focused on the western half of the project area and attempted to better define basic geology and controls on the previously identified mineralization through mapping and rock chip sampling with over 330 rock samples collected as part of this effort. The majority of these samples were selected to determine which veins, faults, or other structures control the epithermal mineralization. Exposures in most areas did not allow for continuous sampling to ascertain full widths of mineralized zones.
Assays and geologic observations returned very positive results. One hundred and five (105) of the samples contained potentially ore-grade values of greater than 0.34 grams gold per ton (0.01 opt). Four samples contained bonanza gold grades: 193. 5 grams (5.65 opt), 63 grams (1.84 opt), 58.3 grams (1.7 opt), and 48.9 grams (1.4 opt) per ton gold, the highest rock chip values collected to date on the property. The first of these samples also contained 6370 grams of silver (186 opt Ag) and the second carried 1510 grams of silver (44 opt). These two samples were collected from float material but are believed to have not moved far from a nearby subcrop source. Nearby samples carry from 0.2 to 63 grams of gold along a strike length of 335 meters. The other two bonanza samples were from narrow (1 foot or less) veins or mineralized breccias. None of these bonanza veins appears to have been drill tested. In addition to these veins, several other mineralized structural zones were recognized, which are either untested by drilling or poorly tested. These structural zones are up to at least 500 meters long and could be up to 25 meters wide in places. The highest values on these three structural zones contain a minimum of 3 grams (0.09 opt) of gold with a maximum of 8 grams (0.23 opt) of gold per ton. The average of samples within 15 meters of these structures is 1.4 grams (0.04 opt) gold and 58 grams (1.7 ounces) of silver per ton.
Palladon recently acquired data from previous operators including 77 drill hole summaries, 193 anomalous rock chips (greater than 200 ppb Au), and soil anomaly areas, mostly from the eastern side of the project area. The data was derived from work conducted by Exxon, Noranda, and Homestake Mining between 1983 and 1997. Highlights of this data set include a hole drilled near the high-grade intercept noted above that bottomed in 1 meter of 32.9 grams (0.96 opt) of gold at 46 meters. On the eastern side of the property, another hole intersected 4.6 meters of 9.6 grams (0.28 opt Au) of gold at 21 meters within 29 meters of 1 gram (0.03 opt) gold starting at the surface; follow-up drilling near this hole returned weaker mineralized intervals but the overall importance of this hole has not been fully evaluated.
These early results are very encouraging. Most significantly, the new data supports the high-grade target concept with new bonanza grade values. Also, it is apparent that despite the amount of prior work, several attractive targets remain to be tested. A two phase drill program is currently being planned for execution in the spring and summer of 2006 and considerably more field work is planned for the coming months. Forty-five new claims have also been added to the property position.
Palladon CEO George Young said, "We continue with our gold exploration work both in the Great Basin of Nevada and Utah as well as in Patagonia and in Salta province, Argentina. We believe we have excellent projects on both continents for prospective gold exploration. We expect to be in a very unique position as a junior gold explorer. As we execute our business plan in developing our iron and copper projects, we will potentially have the ability to finance our gold exploration without significantly diluting shareholders going forward."
Qualified Person and Quality Assurance and control
Mr. Rick Russell, B.Sc, Geology, who has over 36 years experience in the mining industry, is a Licensed Geologist in the State of Washington (#205), and is a member of S.E.G, is acting as the qualified person as defined in National Instrument 43-101 for the purpose of the technical release of information contained herein. Mr. Russell is an independent consultant and does not have any ownership or financial interest in Palladon Ventures Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
George S. Young, Chief Executive Officer, Director
Assays quoted in this news release were performed by ALS Chemex Laboratories of Reno,Nevada.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Palladon's future plans, intentions, objectives or goals, including words to the effect that Palladon or management expects a stated condition or result to occur. Since forward- looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not take respon sibility for the adequacy or accuracy of the contents hereof.
Palladon Ventures Ltd. (TSX VENTURE:PLL - News)
22.01.06 12:12
#43
Knappschaftskasse.
Palladon Announces Assays on Candy B Prospect
Palladon Announces Assays on Candy B Prospect
Monday January 16, 9:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Jan. 16, 2006--Palladon Ventures Ltd. (TSX VENTURE:PLL - News; FWB:PV1) and joint venture partner Western Utah Copper Company are pleased to provide the following drill results on the Candy B prospect of the Milford Mineral Belt in southwestern Utah.
In the fall of 2005, the JV completed four reverse circulation drill holes (WCB 1, 2, 5 and 11), encountering copper mineralization greater than 0.4% Cu in intervals up to 50.3 m in length, including a 36.3 m interval grading an average of 1.05% copper. The apparent center of the mineralized area of the Candy B prospect is located approximately 430 meters southeast of the center of the historic Maria Mine, which produced approximately 7.2 million lbs. of copper between 1967 and 1974. Assay results have been returned for 3 holes and are summarized as follows:
SUMMARY DRILL RESULTS
Drill Hole Average
Number From To Meters Grade (%Cu)
WCB-01 96.00 m 132.60 m 36.60 m 1.05%
WCB-02 47.30 m 103.70 m 56.40 m 0.77%
Incl. 67.00 m 89.90 m 22.90 m 1.106%
WCB-11 61.00 m 65.60 m 4.60 m 0.82%
93.00 m 143.30 m 50.30 m 0.53%
In the 1950s U.S. Steel performed extensive regional geophysical and geological programs directed toward discovering large magnetite iron deposits in the Milford area. Although several small, intense magnetic sources were discovered under shallow cover, they were not of sufficient size to interest U.S. Steel for production of iron. The area of magnetic anomalies was later independently staked by the U.S. Steel geologist who had worked on the study. This eventually led to the discovery of the Bawana, Hidden Treasure, and Candy B prospects. Geophysical studies performed by Palladon in late 2004 confirmed peaks of a moderate chargeability anomaly, approximately 365 by 120 meters in size, to a 100-meter depth beneath the buried Candy B target. (See press release dated January 25, 2005)
In the mid-1960's the American Mining Company calculated a resource estimate at Candy B of 1 million tons averaging 1.25% copper based on seven holes drilled along a strike length of 1100 feet and a horizontal width of 400 feet. This estimate is historical in nature, was completed prior to 2001 and NI 43-101, and should therefore not be considered reliable. Palladon plans to initiate a second phase of infill drilling with the objective of verifying historic data, studying the extent of mineralization, and producing a revised, NI 43-101 compliant resource estimate for Candy B.
Mr. R. H. Russell, M.Sc., Geology, who has over 36 years experience in the mining industry, is a Licensed Geologist in the State of Washington (#205), and is a member of S.E.G., is acting as the qualified person as defined in National Instrument 43-101 for the purpose of the technical release of information contained herein relating to the Western Utah Copper Project. Mr. Russell is an independent consultant and does not have any ownership or financial interest in either Palladon Ventures Ltd. or Western Utah Copper Company.
Detailed Drilling Summary
Palladon/WUCC Joint Venture
--------------------------------------------------
Drill Hole
Number Significant Intercepts(i) Geology
--------------------------------------------------
WCB-01 0-33.5 m: Alluvium
33.50-96.00 m: 33.5-94.5 m: Epidote/Garnet
Low-grade copper Skarn; Local marble
--------------------------------------------------
96.00-111.30 m: 94.5-123.4 m: Magnetite,
15.30 m @ 0.568 % Cu Garnet
111.30-112.80 m.:
1.50 m Pending Skarn
--------------------------------------------------
112.80-132.60 m: 123.4-134.1 m: Skarn and Alt.
19.80 m @ 1.502% Cu Intru. 147.9 m: TD in Quartz
Monzonite
--------------------------------------------------
--------------------------------------------------
WCB-02 0-25.9 m: Alluvium
--------------------------------------------------
25.9-44.2 m: No Samples
--------------------------------------------------
47.30-50.30 m:
3.00 m @ 0.625 Cu 44.2-57.9 m: Magnetite, Garnet
--------------------------------------------------
50.30-51.80 m:
1.50 m Pending Skarn
51.80-53.30 m:
1.50 m @ 0.754% Cu
--------------------------------------------------
53.30-56.40 m:
3.10 m Pending
56.40-65.50 m:
9.10 m @ 0.769% Cu 57.9-61 m: Fracture Zone
--------------------------------------------------
65.50-67.00 m:
1.50 m Pending 61-108.2 m: Magnetite Skarn,
67.00-89.90 m:
22.90 m @ 1.106% Cu Locally Silicified, Fractured
--------------------------------------------------
89.90-91.50 m:
1.50 m Pending
--------------------------------------------------
91.50-103.70 m:
12.20 m @ 0.6615% Cu 129.6 m: TD in Intrusive
--------------------------------------------------
--------------------------------------------------
WCB-11 61.00-65.60 m:
4.60 m @ 0.818%
--------------------------------------------------
93.00-99.10 m:
6.10 m @ 0.999%
--------------------------------------------------
108.20-128.00 m:
19.80 m @ 0.734%
--------------------------------------------------
135.70-143.30 m:
7.60 m @ 0.812%
--------------------------------------------------
(i) The reverse circulation samples were collected on 5-foot
(1.5 meter) intervals. Several intervals are still out for assay and
results are pending, or in the case of WCB - 11, results are missing
over several meters. Where missing or pending, a value of 0.00% Cu
was assumed in the average grade calculations above. A cutoff of
0.40% Cu was used.
Palladon also announces the resignation of Mr. Doug Silver, VP Business Development, effective December 31, 2005. "Mr. Silver has made a valuable contribution to Palladon since its inception in 2003. We wish him every success as he focuses on his role as C.E.O of International Royalty Corp.," stated George Young, Chief Executive Officer of Palladon Ventures Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
Donald G. Foot Jr., President & Chief Operating Officer
Assays quoted in this news release were performed by (ALS Chemex Laboratories of Reno, Nevada).
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Palladon's future plans, intentions, objectives or goals, including words to the effect that Palladon or management expects a stated condition or result to occur. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not take respon sibility for the adequacy or accuracy of the contents hereof.
Palladon Ventures Ltd. (TSX VENTURE:PLL - News; FRANKFURT:PV1 - News)
Contact:
Palladon Ventures Ltd.
Hamish Greig
Investor Contact
(604) 484-7088
Fax: (604) 484-7044
info@palladonventures.com
www.palladonventures.com
--------------------------------------------------
Source: Palladon Ventures Ltd.
Monday January 16, 9:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Jan. 16, 2006--Palladon Ventures Ltd. (TSX VENTURE:PLL - News; FWB:PV1) and joint venture partner Western Utah Copper Company are pleased to provide the following drill results on the Candy B prospect of the Milford Mineral Belt in southwestern Utah.
In the fall of 2005, the JV completed four reverse circulation drill holes (WCB 1, 2, 5 and 11), encountering copper mineralization greater than 0.4% Cu in intervals up to 50.3 m in length, including a 36.3 m interval grading an average of 1.05% copper. The apparent center of the mineralized area of the Candy B prospect is located approximately 430 meters southeast of the center of the historic Maria Mine, which produced approximately 7.2 million lbs. of copper between 1967 and 1974. Assay results have been returned for 3 holes and are summarized as follows:
SUMMARY DRILL RESULTS
Drill Hole Average
Number From To Meters Grade (%Cu)
WCB-01 96.00 m 132.60 m 36.60 m 1.05%
WCB-02 47.30 m 103.70 m 56.40 m 0.77%
Incl. 67.00 m 89.90 m 22.90 m 1.106%
WCB-11 61.00 m 65.60 m 4.60 m 0.82%
93.00 m 143.30 m 50.30 m 0.53%
In the 1950s U.S. Steel performed extensive regional geophysical and geological programs directed toward discovering large magnetite iron deposits in the Milford area. Although several small, intense magnetic sources were discovered under shallow cover, they were not of sufficient size to interest U.S. Steel for production of iron. The area of magnetic anomalies was later independently staked by the U.S. Steel geologist who had worked on the study. This eventually led to the discovery of the Bawana, Hidden Treasure, and Candy B prospects. Geophysical studies performed by Palladon in late 2004 confirmed peaks of a moderate chargeability anomaly, approximately 365 by 120 meters in size, to a 100-meter depth beneath the buried Candy B target. (See press release dated January 25, 2005)
In the mid-1960's the American Mining Company calculated a resource estimate at Candy B of 1 million tons averaging 1.25% copper based on seven holes drilled along a strike length of 1100 feet and a horizontal width of 400 feet. This estimate is historical in nature, was completed prior to 2001 and NI 43-101, and should therefore not be considered reliable. Palladon plans to initiate a second phase of infill drilling with the objective of verifying historic data, studying the extent of mineralization, and producing a revised, NI 43-101 compliant resource estimate for Candy B.
Mr. R. H. Russell, M.Sc., Geology, who has over 36 years experience in the mining industry, is a Licensed Geologist in the State of Washington (#205), and is a member of S.E.G., is acting as the qualified person as defined in National Instrument 43-101 for the purpose of the technical release of information contained herein relating to the Western Utah Copper Project. Mr. Russell is an independent consultant and does not have any ownership or financial interest in either Palladon Ventures Ltd. or Western Utah Copper Company.
Detailed Drilling Summary
Palladon/WUCC Joint Venture
--------------------------------------------------
Drill Hole
Number Significant Intercepts(i) Geology
--------------------------------------------------
WCB-01 0-33.5 m: Alluvium
33.50-96.00 m: 33.5-94.5 m: Epidote/Garnet
Low-grade copper Skarn; Local marble
--------------------------------------------------
96.00-111.30 m: 94.5-123.4 m: Magnetite,
15.30 m @ 0.568 % Cu Garnet
111.30-112.80 m.:
1.50 m Pending Skarn
--------------------------------------------------
112.80-132.60 m: 123.4-134.1 m: Skarn and Alt.
19.80 m @ 1.502% Cu Intru. 147.9 m: TD in Quartz
Monzonite
--------------------------------------------------
--------------------------------------------------
WCB-02 0-25.9 m: Alluvium
--------------------------------------------------
25.9-44.2 m: No Samples
--------------------------------------------------
47.30-50.30 m:
3.00 m @ 0.625 Cu 44.2-57.9 m: Magnetite, Garnet
--------------------------------------------------
50.30-51.80 m:
1.50 m Pending Skarn
51.80-53.30 m:
1.50 m @ 0.754% Cu
--------------------------------------------------
53.30-56.40 m:
3.10 m Pending
56.40-65.50 m:
9.10 m @ 0.769% Cu 57.9-61 m: Fracture Zone
--------------------------------------------------
65.50-67.00 m:
1.50 m Pending 61-108.2 m: Magnetite Skarn,
67.00-89.90 m:
22.90 m @ 1.106% Cu Locally Silicified, Fractured
--------------------------------------------------
89.90-91.50 m:
1.50 m Pending
--------------------------------------------------
91.50-103.70 m:
12.20 m @ 0.6615% Cu 129.6 m: TD in Intrusive
--------------------------------------------------
--------------------------------------------------
WCB-11 61.00-65.60 m:
4.60 m @ 0.818%
--------------------------------------------------
93.00-99.10 m:
6.10 m @ 0.999%
--------------------------------------------------
108.20-128.00 m:
19.80 m @ 0.734%
--------------------------------------------------
135.70-143.30 m:
7.60 m @ 0.812%
--------------------------------------------------
(i) The reverse circulation samples were collected on 5-foot
(1.5 meter) intervals. Several intervals are still out for assay and
results are pending, or in the case of WCB - 11, results are missing
over several meters. Where missing or pending, a value of 0.00% Cu
was assumed in the average grade calculations above. A cutoff of
0.40% Cu was used.
Palladon also announces the resignation of Mr. Doug Silver, VP Business Development, effective December 31, 2005. "Mr. Silver has made a valuable contribution to Palladon since its inception in 2003. We wish him every success as he focuses on his role as C.E.O of International Royalty Corp.," stated George Young, Chief Executive Officer of Palladon Ventures Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.
Donald G. Foot Jr., President & Chief Operating Officer
Assays quoted in this news release were performed by (ALS Chemex Laboratories of Reno, Nevada).
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Palladon's future plans, intentions, objectives or goals, including words to the effect that Palladon or management expects a stated condition or result to occur. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not take respon sibility for the adequacy or accuracy of the contents hereof.
Palladon Ventures Ltd. (TSX VENTURE:PLL - News; FRANKFURT:PV1 - News)
Contact:
Palladon Ventures Ltd.
Hamish Greig
Investor Contact
(604) 484-7088
Fax: (604) 484-7044
info@palladonventures.com
www.palladonventures.com
--------------------------------------------------
Source: Palladon Ventures Ltd.
