Firstenergy Corp. (FE)

[Ed Monton]

New Millennium revises LabMag prefeasibility study


2006-08-09 19:15 ET - News Release

Mr. Robert Martin reports

NEW MILLENNIUM CAPITAL CORP. UPDATES PRE-FEASIBILITY STUDY DETAILS

New Millennium Capital Corp. has updated details of the prefeasibility study undertaken by Met-Chem Canada Inc. on its LabMag iron ore project first disclosed in July 5, 2006, news in Stockwatch and revised on July 10, 2006.

As a result of NML's continuing audit of the prefeasibility study, being conducted internally by NML and by Watts, Griffis and McOuat Limited (WGM), consulting geologist and engineer, of Toronto, Ont., NML has become aware that a $181-million (U.S.) portion of the $2.75-billion (U.S.) capital cost of the project was not input into the Comfar financial model used in the prefeasibility study. The resulting effects on internal rate of return, return on equity and the net present value are as shown below.

As a result, the highlights of the prefeasibility study in the news releases now read:

Highlights of the prefeasibility study:


proven and probable mineral reserves of 3.5 billion tonnes;
total capital cost, including working capital, of $2.75-billion (U.S.) remains unchanged;
internal rate of return of 15.8 per cent (previously disclosed as 16.8 per cent) (before corporate taxes, mining taxes and 2-per-cent gross revenue royalty);
return on equity of 23.3 per cent (previously disclosed as 27.2 per cent) (before corporate taxes, mining taxes and 2-per-cent gross revenue royalty)(3);
net present value of $4.0-billion (U.S.) (previously disclosed as $4.2-billion (U.S.)) (before corporate taxes, mining taxes and 2-per-cent gross revenue royalty)(4);
five-year payback after the start of commercial production;
65-year mine life; and
810 direct jobs at the mine, concentrator and pellet plant.

(3) Based on a 30/70 equity/debt ratio

(4) Based on a 5-per-cent discount rate

It is anticipated that the audit of the prefeasibility study will be completed prior to Aug. 18, 2006, and upon completion thereof, an updated National Instrument 43-101 technical report by WGM will be posted on SEDAR. This report will include a summary of the results from the prefeasibility study.

To see the entire revised release, please visit the company's website.

Dean Journeaux, Eng, and Moulaye Melainine are the qualified persons as defined in National Instrument 43-101 who have reviewed and verified the scientific and technical mining disclosure contained in this news release on behalf of NML.

We seek Safe Harbor.

[Ed Monton]

BIM

[johnlw]

From the FWIW dept., a few block trades in CLM this past week:

V 2006-08-10 15:04:30 2.25 -0.05 259,700 7 TD Sec 6 Union K
V 2006-08-10 14:41:23 2.25 -0.05 117,300 7 TD Sec 7 TD Sec K
V 2006-08-10 12:28:32 2.25 -0.05 117,300 7 TD Sec 7 TD Sec K


V 2006-08-11 12:18:21 2.25 -0.03 96,600 7 TD Sec 6 Union K

[sumisu]

UPDATE

AP
Friday August 11, 12:25 pm ET

CVRD Plans $15.16 Billion Offer for Inco; Competes With Other Offers

NEW YORK (AP) -- Brazilian mining firm Companhia Vale do Rio Doce said Friday it plans to make a tender offer of 17 billion Canadian dollars ($15.16 billion), cash for Canadian miner Inco Ltd., competing with similarly valued offers from two other mining companies.

Inco shares rose almost 4 percent after the news.

The deal amounts to 86 Canadian dollars ($76.69) per share.

Rio de Janeiro-based CVRD said the deal would create one of the three largest diversified mining companies in the world, with positions in iron ore, pellets, nickel, bauxite, alumina, manganese and ferroaloys.

Inco, with 2005 earnings of $836 million on $4.52 billion in revenue, is the world's second-largest producer of nickel.

CVRD, the world's largest producer of iron ore, said it would finance the acquisition with money borrowed through a loan facility from Credit Suisse, UBS, ABN AMRO and Santander. Those banks are also acting as financial advisers to CVRD.

The company said it will make a formal offer on Monday. CVRD will complete the deal if Inco shareholders tender at least two-thirds of the company's outstanding shares. CVRD has not spoken to Inco about the deal.

The offer competes with cash-and-stock offers from Phoenix-based copper miner Phelps Dodge Corp. and Teck Cominco. On Monday, Inco said that a bid of 82.50 Canadian dollars ($72.30) in cash and stock by Vancouver-based Teck Cominco was not superior to a prior offer by Phelps Dodge. It advised shareholders to reject Teck Cominco's bid.

Shares of Inco Ltd. rose $2.80, or 3.7 percent, to $79.38 in early trading on the New York Stock. CVRD shares slipped 18 cents, to $22.71.

[sumisu]

CVRD Announces Proposed All-Cash Offer to Acquire Inco

Friday August 11, 7:39 am ET

RIO DE JANEIRO, Brazil, Aug. 11 /PRNewswire-FirstCall/ -- Companhia Vale do Rio Doce (CVRD) announces that it intends to make an all-cash offer to acquire all of the outstanding common shares of Inco Limited. (Toronto Stock Exchange- TSX and New York Stock Exchange - NYSE ticker symbol: N) (Inco), at a price of Cdn$ 86.00 in cash per Inco common share.

The combination of CVRD and Inco will create one of the three largest diversified mining companies in the world, with leading global market positions in iron ore, pellets, nickel, bauxite, alumina, manganese and ferroalloys, and an exciting world-class pipeline of projects, supported by a large-scale, long-life and low-cost asset portfolio.

About Inco

Inco is a leading Canadian-based nickel company, and the world's second largest nickel producer possessing the world's largest nickel reserve base. Inco is one of the world's lowest cost producers of nickel and due to a very attractive pipeline of projects it has the highest growth potential amongst the main global nickel producers. Inco is also a leader in nickel technology, with a very traditional brand name and premium products for plating, special nickel alloys and superalloys.

In 2005, Inco had revenues of US$ 4.518 billion and net earnings of US$ 836 million. Inco's total debt as of June 30, 2006 was US$ 1.921 billion.

About the offer

CVRD's all-cash offer of Cdn$ 86.00 per share will allow Inco shareholders to realize upfront in cash Inco's profitable growth potential without incurring the risk of that such potential will not be realized.

The acquisition will be financed through a two-year committed bridge loan facility provided by four large first-tier banks: Credit Suisse, UBS, ABN AMRO and Santander. CVRD expects to take out the bridge facility with a long-term capital package within 18 months after the closing of the proposed transaction.

CVRD remains firmly committed to maintaining its investment-grade rating. We will retain financial flexibility after the transaction and will seek to obtain future upgrades in our current ratings, continuing to pursue the minimization of the cost of capital.

Full details of the offer will be included in the formal offer and take- over bid circular documents to be publicly filed and subsequently mailed to Inco's security holders. CVRD is formally requesting a list of Inco's shareholders and expects to mail the take-over bid and circular documents to Inco's shareholders as soon as possible following receipt of the shareholder list.

CVRD expects to formally commence its offer by newspaper advertisement on Monday, August 14, 2006. The offer will be open for acceptance for 45 days following its formal commencement and no Inco common shares will be taken up and paid for pursuant to the offer unless, at such date, each of the conditions of the offer is satisfied or waived.

Completion of the offer will be subject to a sufficient number of shares being tendered to the offer such that CVRD would own at least 66 2/3% of Inco's common shares, on a fully-diluted basis, following completion of the offer. The offer will be also conditional upon the receipt of all necessary regulatory approvals, the absence of litigation, no material adverse change at Inco and other customary conditions.

CVRD has not yet held any discussions with Inco's management with respect to this transaction but would welcome the opportunity to work with Inco to achieve a successful outcome to this transaction.

CVRD Chief Executive Officer, Roger Agnelli said: "This is an exciting opportunity for CVRD. The operations of the two companies are complementary and the combination will enhance our capabilities to benefit from the fast changing global landscape in the metals and mining industry. For Inco shareholders, our all-cash offer provides a very attractive opportunity to realize substantial gains with no exposure to market risks."

Strategic alignment and expected benefits

The offer is consistent with our long-term corporate strategy and with our non-ferrous metals business strategy. It is a new step in our strategy of developing, operating and maximizing the performance of large-scale, long-life and low-cost assets.

The proposed transaction enhances our options to further generate the increase in production capacity needed to meet the demand for minerals and metals of high growth markets over time.

The combination of Inco's specific knowledge, long-term experience in nickel mining and technological leadership in nickel metallurgy with CVRD's global mining leadership and strong cash generation makes for a unique opportunity to create shareholder value in an environment of sustained demand for minerals and metals in the long-term.

The proposed transaction will bring a better diversification to CVRD's activities by products, markets and geographic asset base contributing to reducing our business and financial risks.

We expect the acquisition to add significant value to our shareholders over the medium to long term. Built into the offer price is the recognition of the synergies available to CVRD through our nickel projects as well as our marketing functions.

Benefits to Canada

CVRD is confident that its acquisition of Inco will deliver significant benefits to Canada as a whole including the operations, employees, suppliers and stakeholders of Inco and the Canadian communities in which it operates.

We have a long and strong track record of investing in our operations to sustain their long-term future. CVRD recognizes the significant and unique capabilities of Inco's business and its employees. It is firmly committed to ensuring that Inco's business continues to play a leading role in the global nickel industry. Upon completion of the acquisition, CVRD intends to establish a global nickel business, based in Toronto, Ontario.

CVRD is committed to continuing to invest in R&D as well as capital projects to maintain the strength of Inco's current operations in Canada as well as Inco's continuing mineral exploration effort in Canada with a view to creating shareholder value and supporting the communities where Inco operates.

CVRD intends to work with key stakeholders to optimize the Sudbury operations in order to support its long-term competitiveness and to create real benefits to the local communities.

We are fully committed to the highest standards of corporate social responsibility, as we understand that it is fundamental to preserve our long- term competitiveness in the global arena. CVRD consistently invests significant resources in environmental protection and conservation and in the creation of channels of social and economic mobility in low-income communities. At the same time, one of our most important priorities is to maintain a high level of work and environmental safety in our operations and to fully comply with all related laws.

Therefore, we will be working to explain the clear benefits of the transaction to Canada, including for Inco's employees and the communities in which Inco operates, to the Minister of Industry and other stakeholders. CVRD expects to move through the Investment Canada Act process on a timely basis, and looks forward to participating as a member of the Canadian community.

About CVRD

CVRD is a Brazilian company, headquartered in the city of Rio de Janeiro, Brazil. It is the largest metals and mining company in the Americas and one of the largest in the global metals and mining industry, with a market capitalization of approximately US$ 55 billion. It is rated BBB+ by Standard & Poor's, BBBhigh by Dominion Bond Rating Service, Baa3 by Moody's and BBB- by Fitch Ratings.

It is the largest global producer of iron ore and pellets, the world's second largest producer of manganese and ferroalloys, one of the world's lowest cost producers of aluminum products (bauxite, alumina and primary aluminum) and a producer of copper, potash and kaolin. CVRD is the largest logistics player in Brazil, owning and operating three railroads and eight maritime terminals along the Brazilian seacoast.

CVRD has been investing in a large growth pipeline, involving greenfield and brownfield projects in iron ore, pellets, bauxite, alumina, potash, copper, nickel and coal. Simultaneously, we are investing in a global multi- commodity mineral exploration program in South America, Africa, Asia and Australia.

Our shares are traded on the New York Stock Exchange - NYSE (RIO and RIOPR), on the Sao Paulo Stock Exchange - BOVESPA (Vale3 and Vale5) and on Latibex (XVALP and XVALO).

CVRD's financial advisors in this transaction are Credit Suisse, UBS, ABN AMRO and Santander. Its legal advisors are Stikeman Elliott LLP in Canada and Cleary, Gottlieb, Steen & Hamilton LLP in the United States.

Conference call and webcast

CVRD will hold a conference call and webcast today at 12:00 p.m. Rio de Janeiro time, 11:00 am Canadian/US Eastern Standard time, and 4:00 pm UK time. Instructions for participation are on our website, www.cvrd.com.br, under Investor Relations. A recording will be available on CVRD's site for 90 (ninety) days following August 11, 2006.

IMPORTANT INFORMATION

This press release may be deemed to be solicitation material in respect of CVRD's proposed tender offer for the shares of Inco. CVRD will prepare and file a tender offer statement on Schedule TO (containing an offer to purchase and a takeover bid circular) with the United States Securities and Exchange Commission (SEC). CVRD, if required, will file other documents regarding the proposed tender offer with the SEC.

INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE TAKEOVER BID CIRCULAR, THE SCHEDULE TO AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER FOR INCO SHARES. These documents will be available without charge on the SEC's website at www.sec.gov. Free copies of the documents can also be obtained by directing a request to Kingsdale Shareholder Services Inc., The Exchange Tower, 130 King Street West, Suite 2950, P.O.Box 361, Toronto, Ontario, M5X 1E2, by telephone to 1-866-381-4105 (North American Toll Free) or 416-867-2272 (Overseas), or by email to: [e-mail].




--------------------------------------------------------------------------------
Source: Companhia Vale do Rio Doce

[Bullit69]

Interesting….

I looked at the website… Fe looks good, Si02 is high…. There is no mention of other trace elements… anyone know about Sulfur content??, , Titanium and Vanadium are killers for steel making iron ores.. If they plan on selling it as Lump, must be low in those areas…. Looks like a lot of efforts went into pre-development and mining plans.. Seems to me they have enough information to go in excavate and crush down to Fines and start earning several million a month.. I will research this company, What about shipping? What market Asia, Europe or North America? I’m heavy into iron ore mining companies.. If this checks out… I’ll take a large position.. I have recently picked up large blocks of CWRN on the pinks, its way undervalued at 12 cents…

Matt Bullit

[mhlld]

China's steelmakers may lose ore price fight as demand rise
Source: Bloomberg 27 July 2006
Steelmakers in China, the world's largest consumer of iron ore, may fail to prevent an increase in prices of the raw material again next year as global demand outpaces production.

Credit Suisse Group and Beijing Antaike Information Co are forecasting prices may rise in 2007 for a third straight record, after gaining 19% to $47 a tonne this year. Out of nine analysts surveyed by Bloomberg, none expected a decline in prices next year.

Soaring demand in China and limited mine expansion has driven spot prices as much as a fifth higher than the benchmark as Baosteel Group Corp, the nation's biggest steelmaker, prepares to lead Asian mills in initial contract talks in October with suppliers including Cia. Vale do Rio Doce.

"There is a struggle to bring on capacity, and miners have bottlenecks at the ports, rail and mines," said Rob Clifford, of ABN Amro Holding, Melbourne. "Next year is going to be at least as tight as this year."

China's mills, including Angang Iron & Steel Group and Wuhan Iron & Steel Group, took the lead for the first time in this year's annual contract talks after overtaking their Japanese rivals as the single-largest ore buyer in 2003. The negotiations strained relations between Australia, the world's biggest supplier of the ore, and China's government, which capped prices on imports in March to influence talks.

"China's steel production will keep growing," said Ma Haitian, a steel analyst at Beijing Antaike, a research affiliate of the China Nonferrous Metals Industry Association. "China will probably increase crude steel production by 50-60 million tonne annually till 2008. That will translate into additional iron ore demand of 80 million tonne."

China's crude steel output, which rose 25% to 352 million tonne in 2005, may increase by a further 10% this year, according to China Iron and Steel Association.

Production and exports of steel products both reached records in the first half of this year. China supplies a third of the world's steel. China's mills dispute forecasts of rising steel output and iron ore demand. Ore demand will slow as steel production growth slows, said Zou Jian, chairman of the China Metallurgical and Mining Association

[mhlld]

Imported iron ores soared in China
Source: SinoCast 2 August 2006
China produced 193.196 million tons of irons in the first half year of 2006, and the dependent ratio of the imported iron ores hit 53%, according to the statistics from China Iron and Steel Association.

The country imported a total of 161.355 million tons of iron ores in the first half, with 30.1033 million tons more than a year earlier, representing an increase of 22.94%.

In the first six months of this year, the output of iron ores in China's large- and medium-sized mines reached 245.5621 million tons, with 63.7223 million tons more over the same period of last year, up 35.04%.

And the total output of iron ores beat approximately 295 million tons, plus the amount in the small- and medium-sized ones, the statistics showed.

In June, 2006, Baosteel, the nation's largest steel producer that is representing Chinese steelmakers, has accepted a price hike of 19% for contract iron ore deliveries by major supplier BHP Billiton, the same price increase level as other iron ore providers.

http://metalsplace.com/metalsnews/?a=6382

[johnlw]

CLM

Interesting board of directors:

Bharti Stalin (Stan) 2005-06-01
Depatie Jean 2005-06-01
McCarvill Gerald Patrick 2005-06-01
Quesnel Richard Placide 2006-02-16
Tobin Brian Vincent 2006-02-15
Wilson Bernard R 2006-02-22
http://www.consolidatedthompson.com/management/team.cfm

[mhlld]

PLL: I've been quietly sneaking back in here. Hopefully we'll get news with updated guidance soon.

[Arctec]

PLL.

Is it time to buy this again??

[johnlw]

LIF.un

[mhlld]

Palladon Iron Project Infrastructure Update
Tuesday February 21, 3:01 am ET

SALT LAKE CITY--(BUSINESS WIRE)--Feb. 21, 2006--Palladon Ventures Ltd. (TSX VENTURE:PLL - News; FWB:PV-1) is pleased to provide the following update on progress at the Iron Mountain project in southwestern Utah.

The Iron Mountain project is connected to the main line of the Union Pacific Railroad in Utah by a 14.1-mile spur line. Palladon intends to move iron ore concentrates from the Iron Mountain mine site along the spur line to a set of interchange tracks in Iron Springs. From Iron Springs, a unit train will be transferred onto the Union Pacific Railroad's main line. Construction of 2.1 miles of interchange tracks commenced in December of 2005 and due to mild winter weather conditions has proceeded faster than expected, with completion scheduled for the spring of 2006. Palladon will conduct the gradual rehabilitation of the spur line between the Iron Springs Interchange and the mine site as part of its general maintenance and quality control program, replacing ties and ballast where necessary.

Palladon has selected a Canadian railcar manufacturing company to supply 600 oversized rail cars (114-ton capacity each) for the project. These cars, combined with up to 240 rail cars to be provided by the Union Pacific Railroad, will enable Palladon to reach a 2,000,000 MT per year shipping capacity. The Company is now reviewing potential shortline operators for transportation along the spur line. Palladon plans to finalize its selection by early March 2006.

Demolition of the pre-existing facilities and load-out structures was completed in December 2005. All scrap has been removed from site. Plans for additional earthwork and the construction of the concentrating plant are being finalized.

ON BEHALF OF THE BOARD OF DIRECTORS OF PALLADON VENTURES LTD.

Donald G. Foot Jr., President & Chief Operating Officer

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 responsibility for the adequacy or accuracy of the contents hereof.

The TSX Venture Exchange has not reviewed nor does it accept respo nsibility for the adequacy or accuracy of this press release.

Palladon Ventures Ltd. (TSX VENTURE:PLL - News; FRANKFURT:PV-1)

Contact:
Palladon Ventures Ltd.
Hamish Greig
Investor Contact
[phone]
Fax: [phone]
[e-mail]
www.palladonventures.com

--------------------------------------------------------------------------------
Source: Palladon Ventures Ltd.

http://biz.yahoo.com/bw/060221/20060221005466.html?.v=1

[Arctec]

TSX VENTURE SYMBOL: BIM

January 27, 2006

Baffinland Announces the Appointment of Chief Operating Officer


TORONTO, ONTARIO--(CCNMatthews - Jan. 27, 2006) - Baffinland Iron Mines
Corporation (TSX VENTURE:BIM) ("Baffinland" or the "Company") is pleased to
announce that Mr. Rodney A. Cooper, P. Eng., has agreed to join Baffinland as
Vice President Operations and COO effective March 1, 2006.

Rod, a Mining Engineer with an MBA, has extensive remote mining experience over
the past 25 years including 12 years with Echo Bay Mines Ltd. in northern
Canada and Alaska and three years at the Eskay Creek Mine in British Columbia
with Homestake Canada Inc. In 2000, he joined Kinross Gold Corporation at its
Timmins, Ontario operations and was subsequently transferred to Toronto for
Kinross where he has most recently been Vice President, Technical Services
overseeing a technical staff of a dozen professionals servicing the global
technical needs from a corporate perspective for all of Kinross' mining
operations.

Gordon A. McCreary, President and CEO of Baffinland stated, "Rod brings to
Baffinland a wealth of experience in remote, and specifically Arctic, mining
experience and will be a core member of the Baffinland team to assist in the
advancement of what we believe is a world class iron ore project at Mary River,
Nunavut, Canada. Rod's diverse technical and mining operations background will
be instrumental as we advance the project beyond the Aker Kvaerner Scoping
Study expected later this quarter, to a Bankable Feasibility Study and
ultimately, hopefully, a producing iron ore mine focused on the direct-shipping
of lump and fines to European and other markets." Mr. Michael T. Zurowski,
Executive Vice President of Baffinland stated, "Rod's proven operational
expertise provides the perfect addition to our growing Baffinland team of
professionals to take the Mary River Project to the next level."

In other news, the Company announces that it has granted stock options to a
consultant and officer to purchase 300,000 common shares in the capital of the
Company at an exercise price of $2.75 per common share, being the closing price
of the common shares on January 26, 2006, vesting over a period of 18 months
and expiring January 25, 2011. The current number of issued and outstanding
common shares is approximately 44,111,865. The options were granted pursuant to
the Company's incentive stock option plan (the "Plan"), under which a maximum
of 10% of the issued and outstanding common shares are reserved for issuance.
Following the grant of such options, a further 1,339,187 common shares will be
available for issuance under the Plan.

This press release includes certain "Forward-Looking Statements" within the
meaning of section 21E of the United States Securities and Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of Baffinland Iron Mines Corporation, are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statement. Important
factors that could cause actual results to differ material from Baffinland's
expectations are disclosed under the heading "Risk Factors" and elsewhere in
Baffinland's documents filed from time to time with the TSX Venture Exchange
Inc. and other regulatory authorities.

- 30 -

FOR FURTHER INFORMATION PLEASE CONTACT:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
[phone]
OR
Baffinland Iron Mines Corporation
Michael T. Zurowski
Executive Vice President
[phone]
[e-mail]
www.baffinland.com

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS
OF THIS PRESS RELEASE.

INDUSTRY: MNG - Mining
SUBJECT: PER - PERSONNEL ANNOUNCEMENTS

FOR: Baffinland Iron Mines Corporation
TSX VENTURE SYMBOL: BIM

[Arctec]

FOR: Baffinland Iron Mines Corporation

TSX VENTURE SYMBOL: BIM

January 16, 2006

Baffinland's Board Approves Adoption of Shareholder Rights Plan


TORONTO, ONTARIO--(CCNMatthews - Jan. 16, 2006) - Baffinland Iron Mines
Corporation (TSX VENTURE:BIM) (the "Company") today announced that its Board of
Directors has approved the adoption of a shareholder rights plan (the "Plan")
as part of its process in dealing with potential parties who may wish to
acquire control of the Company by way of a take-over bid or other transaction
consistent with the Company's mandate to maximize shareholder value. Although
the Company is not in any change of control discussions at this time, the Plan
is intended to ensure all shareholders of the Company are treated fairly in any
transaction involving a change of control of the Company.

The Plan has been adopted in order to provide the Company's Board of Directors
and shareholders with sufficient time to assess and evaluate any take-over bid
or other control transaction and, in the event that a bid is made or other
control transaction is proposed, to provide the Board of Directors with an
appropriate period of time to explore and develop alternatives which maximize
shareholder value.

Although the Plan will take effect immediately, the Company's intention is to
ask its shareholders to ratify the Plan at its next annual meeting of
shareholders and the Plan will expire if that ratification is not obtained
within six months. If approved, the Plan will continue in effect until the
annual meeting of shareholders in 2009.

The Plan is similar to other shareholder rights plans adopted by Canadian
corporations. Until the occurrence of certain specific events, the rights will
trade with the common shares of the Company and be represented by the share
certificates for such shares. The rights become exercisable only when a person,
including any party related to it or acting jointly with it, acquires or
announces its intention to acquire 20 percent or more of the outstanding common
shares of the Company without complying with the "Permitted Bid" provisions of
the Plan. Should a non-permitted acquisition occur, each right would entitle
each holder of common shares (other than the offeror or certain parties related
to it or acting jointly with it) to purchase additional common shares of the
Company at a 50 percent discount to the market price at the time.

It is not the intention of the Plan to prevent take-over bids. Under the Plan,
a Permitted Bid is a bid made to all shareholders on identical terms and
conditions that is open for at least 60 days. If at the end of 60 days more
than 50% of the outstanding shares, other than those owned by the offeror or
certain parties related to it or acting jointly with it, have been tendered,
the offeror may take up and pay for the shares but must extend the bid for a
further 10 business days to allow all other shareholders to tender.

In other business, Baffinland is pleased to announce that it has received
payment in full, amounting to $1,166,998.76, from Apollo Gold Corp. relating to
the former Glimmer Mine and subsequently has satisfied Baffinland's obligations
in this regard by making payments of $566,890.90 to certain current and former
members of management and certain companies related to the Company, as per Note
11, Contingencies and Commitments, to the Company's 2004 audited Financial
Statements. Consequently, the Company's net cash balance has increased by
$600,107.86 and the Company will record this amount as other income in the
first quarter of 2006.

Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict, including
risks relating to the exploration and development of the Company's iron ore
deposits. Actual results might differ materially from results suggested in any
forward-looking statements. The Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward-looking statements. Additional
information identifying risks and uncertainties is contained in the Company's
filings with the Canadian securities regulators, which filings are available at
www.sedar.com.

- 30 -

FOR FURTHER INFORMATION PLEASE CONTACT:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
416-364-8820
OR
Baffinland Iron Mines Corporation
Michael T. Zurowski
Executive VP and COO
416-364-8820
info@ baffinland.com
www.baffinland.com

[Arctec]

TORONTO, ONTARIO--(CCNMatthews - Jan. 10, 2006) - Baffinland Iron Mines
Corporation (TSX VENTURE:BIM) ("Baffinland" or the "Company") is pleased to
report the following thick intervals of high grade iron assays from the second
batch of drill core from the Company's 2005 drill program on its wholly-owned
Mary River iron ore deposits, located on Baffin Island, Nunavut Territory,
Canada.

Highlights

- The total high-grade iron intercepts contained in the holes released today is
1,330.5 metres at an average grade of 65.8% iron.

- The total of the multiple intervals in a single hole is as much as 229.8
metres in four intervals at an average grade of 64.8% iron.

- The thickest continuous interval is 128.1 metres at an average grade of 67.7%
iron.

- The highest grade of the thick and continuous intercepts is 68.8% iron over
an interval of 102.0 metres.

- Deposit No. 1 remains open along strike and at depth and since many holes
collared and/or ended in high grade mineralization the deposit is also open to
potential additional thickness in certain areas.

Assaying and analytical work are performed by SGS Lakefield Research Limited
("Lakefield") under a strict protocol designed for testing lump iron ores.
Samples are then sent from Lakefield to Studien Gesellschaft fur
Eisenerz-Aufbereitung ("SGA") in Germany, where they are composited for
detailed metallurgical testing to ISO standards for iron ore. The testwork is
specific for lump ores (less than 31.5mm greater than 6.3mm in size).
Additional testwork is being completed on fine material (less than 6.3 mm in
size) for sintering. These results will be released when available.

The attached tables summarizes the assay data for additional holes received
from the 2005 program and the attached plan view map shows the location of the
holes drilled in Deposit No. 1. Plan views showing the location of the drill
holes and preliminary cross-sections to assist in interpretation of the data
are available at the Baffinland website at www.baffinland.com.

2005 Assay Data

Gordon A. McCreary, President and CEO of Baffinland stated that, "At the risk
of sounding too blase about the high grade assay results of the holes released
today, it is fair to say that these results are more of the same and that, is a
good thing. The total intervals of assays being released is 1,330.5 metres at
an average grade of 65.8% iron, bringing the total released to date for the
2005 drill program to 3,081.8 metres at an average grade of 65.7% iron. If you
include the 2004 drilling on Deposit No. 1 with the drill results released to
date for the 2005 program, the total is 4,190.1 metres at an average grade of
65.7% iron"

The primary objective of the 2005 program was to build on the successes of the
2004 program such that a new resource calculation incorporating all of the
drilling would be sufficient to justify investigating the feasibility of a 10
million tonne per year direct-shipping iron ore operation for at least 25
years. Assay results for the remaining holes in the 2005 program are expected
to be released later in January 2006 and will be followed as soon as possible
thereafter, with the release of a new resource calculation for Deposit No.1 at
Mary River.

South Limb

Although five of the holes being released today targeted the south limb of
Deposit No. 1, two of these holes were unfortunately lost in overburden. A
third hole, MR1-05-64, recorded an interval of 28.0 metres grading 67.6% iron
before being abandoned due to technical drilling problems, at a depth of 152.0
metres. The hole ended in high grade mineralization and is located almost 400
metres southeast of the axis of the fold between the north and south limbs.
Hole MR1-05-58 was drilled on the same section and successfully intersected
four intervals totalling 164.1 metres at an average grade of 65.9% iron, with
the thickest and highest-grade interval being 93.4 metres grading 66.7% iron.
In addition, hole MR1-05-67, collared on section with hole S-2 drilled in the
1960's, was a steep hole drilled to a depth of 211.0 metres, intersected three
intervals totalling 145.4 metres at an average grade of 68.6% iron, with the
thickest intercept being 102.0 metres grading 68.8% iron.

North Limb

Eight of the holes being released today targeted the north limb of Deposit No.
1. The most northerly hole being released today is hole MR1-05-65 drilled
approximately 400 metres northwest of the axis of the fold between the north
and south limbs and on section with hole MR1-05-48, released previously. Hole
MR1-05-65 intersected six intervals totalling 145.6 metres at an average grade
of 66.5% iron. Hole MR1-05-54 was collared about 75 metres southwest of hole
MR1-05-65, intersected two intervals totalling 150.8 metres at an average grade
of 64.3% iron. Holes MR1-05-59 and 62, drilled to depths of 323.0 metres and
437.0 metres respectively, were on the same section about 75 metres southwest
of the section of hole MR1-05-54. The upper hole, MR1-05-59 cut six intervals
totalling 143.4 metres at an average grade of 64.7% iron while the lower hole
MR1-05-62 intersected 142.5 metres in four intervals at an average grade of
62.5% iron. Hole MR1-05-55, located about 150 metres southwest of hole
MR1-05-62, cut a narrow width of high grade iron before being abandoned due to
caving.

About 200 metres southwest of the section containing hole MR1-59 and 62, hole
MR1-05-57 and 60 were collared along section both to expand known mineralised
zones and also to increase confidence levels in historic data. Hole MR1-05-60
effectively twined S-6 from the 1960's drill program and cut a cumulative 120.0
metres of 68.8% iron in four intervals, before entering the footwall schists.
Hole MR1-05-57 intercepted a cumulative 229.8 metres of 64.8% iron in four
intervals, the thickest being 128.1 metres grading 67.7% iron. The final hole
being reported today was hole MR1-05-63. It was drilled high up in the deposit,
at hole S-5 also drilled in the 1960's, and collared about 150 metres southwest
of hole MR1-05-60. Hole MR1-05-63 intersected a single interval of 59.0 metres
grading 68.6% before being abandoned due to caving at a depth of only 87.0
metres.

Conclusions

The management of Baffinland continues to be pleased with the quality of the
drill results and believes that this data bodes well for the eventual results
of a new resource calculation that will be completed after all of the assay
data is available from the 2005 program. Assay data for the remainder of the
holes drilled in 2005 is expected to be released in one additional batch, later
in January 2006, when the data becomes available from Lakefield. Michael T.
Zurowski, Executive Vice President and COO, stated, "The high grade iron
mineralization persists throughout Deposit No. 1, while phosphorus, a
significant deleterious element in iron ores that makes steel more brittle,
averaged less than 0.03% for the holes released today, well below the current
standard for high quality directly shipped ores."

The drill hole assay composites were calculated by Michael T. Zurowski, P.
Eng., a Qualified Person as defined by National Instrument 43-101.

This press release includes certain "Forward-Looking Statements" within the
meaning of section 21E of the United States Securities and Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of Baffinland Iron Mines Corporation, are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statement. Important
factors that could cause actual results to differ materially from Baffinland's
expectations are disclosed under the heading "Risk Factors" and elsewhere in
Baffinland's documents filed from time to time with the TSX Venture Exchange
Inc. and other regulatory authorities.

/T/

Summary of Drill Hole Assays

(True width is approximately 70-80% of core length)

---------------------------------------------------------------------

Drill         TD  From    To  Interval  SiO2  Al2O3   Fe       P    S 
 Hole          (m)   (m)   (m)       (m)    %      %    %       %    % 
 --------------------------------------------------------------------- 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-04-54  314.0 119.0 233.8     114.8   6.4    1.3 64.2   0.098 0.30 
                  ---------------------------------------------------- 
                  269.5 305.5      36.0   1.9    0.4 64.5   0.007 1.02 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-55   95.0  87.0  88.9       1.9   9.5    0.5 63.0   0.053 0.23 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-56   42.0 Lost in overburden 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-57  318.0  13.8  74.0      60.2   7.0    2.1 61.2   0.037 0.01 
                  ---------------------------------------------------- 
                   82.8 115.0      32.2   5.3    0.8 61.9   0.078 0.08 
                  ---------------------------------------------------- 
                  175.3 303.4     128.1   1.6    1.2 67.7   0.004 0.29 
                  ---------------------------------------------------- 
                  306.5 315.8       9.3   9.4    2.3 59.3   0.088 0.61 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-58  242.0  45.0  72.0      27.0   1.3    0.6 68.3   0.009 0.07 
                  ---------------------------------------------------- 
                   81.3 115.8      34.5   9.1    1.1 62.6   0.058 0.33 
                  ---------------------------------------------------- 
                  130.6 224.0      93.4   1.3    0.9 66.7   0.004 0.97 
                  ---------------------------------------------------- 
                  226.0 235.2       9.2   1.5    0.7 63.3   0.003 1.56 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-59  323.0  78.8  82.8       4.0   6.3    0.6 60.6   0.004 0.06 
                  ---------------------------------------------------- 
                   93.0  99.7       6.7  11.0    0.3 58.6   0.012 0.47 
                  ---------------------------------------------------- 
                  136.1 146.6      10.5   2.7    1.1 63.2   0.002 0.85 
                  ---------------------------------------------------- 
                  192.0 308.3     116.3   3.3    1.1 65.3   0.003 0.42 
                  ---------------------------------------------------- 
                  313.1 316.8       3.7   3.6    0.6 64.3   0.004 0.86 
                  ---------------------------------------------------- 
                  318.4 320.6       2.2   3.6    0.3 67.2   0.007 0.15 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-60  181.0  51.5  85.0      33.5   1.0    1.2 67.9   0.002 0.02 
                  ---------------------------------------------------- 
                   89.0 109.5      20.5   0.2    0.5 69.7   0.002 0.01 
                  ---------------------------------------------------- 
                  111.0 112.5       1.5   0.3    0.5 69.7   0.007 0.05 
                  ---------------------------------------------------- 
                  114.0 178.5      64.5   0.2    0.3 69.2   0.004 0.11 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-61   46.0 Lost in overburden 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-62  437.0 243.0 257.7      14.7   6.4    0.5 58.7   0.073 0.65 
                  ---------------------------------------------------- 
                  259.0 271.0      12.0   7.5    2.6 56.7   0.078 0.14 
                  ---------------------------------------------------- 
                  303.1 307.7       4.6   3.6    2.1 64.3    less 1.24 
                                                             than  
                                                            0.003  
                  ---------------------------------------------------- 
                  318.7 429.9     111.2   2.4    1.1 63.6   0.005 0.64 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-63   87.0  13.0  72.0      59.0   0.4    0.8 68.6   0.013 0.01 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-64  152.0 124.0 152.0      28.0   1.6    0.5 67.7   0.022 0.02 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-65  278.0  30.0  42.9      12.9   3.0    2.1 63.7    less 0.02 
                                                             than  
                                                            0.003  
                  ---------------------------------------------------- 
                  106.7 119.3      12.6   2.1    1.1 68.4    less 0.01 
                                                             than  
                                                            0.003  
                  ---------------------------------------------------- 
                  120.5 134.5      14.0   6.2    1.9 64.5   0.004 0.33 
                  ---------------------------------------------------- 
                  141.9 198.5      56.6   2.5    1.3 66.9   0.174 0.44 
                  ---------------------------------------------------- 
                  215.9 219.5       3.6   4.8    0.6 67.0   0.003 0.01 
                  ---------------------------------------------------- 
                  224.2 270.1      45.9   1.1    0.5 67.0   0.017 1.26 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-66  292.0 Assays pending 
 --------------------------------------------------------------------- 
  
 --------------------------------------------------------------------- 
 MR1-05-67  211.0   7.0  29.4      22.4   1.3    1.3 67.7   0.025 0.01 
                  ---------------------------------------------------- 
                   43.0  64.0      21.0   1.0    0.9 68.5   0.015 0.01 
                  ---------------------------------------------------- 
                   67.5 169.5     102.0   0.5    0.6 68.8   0.007 0.03

---------------------------------------------------------------------

---------------------------------------------------------------------

/T/

NOTE: To view the Mary River Iron Ore Deposits, Baffin Island, Nunavut -
Drilling Plan Map please visit the following link:
http://www.ccnmatthews.com/docs/bim0110.pdf

- 30 -

FOR FURTHER INFORMATION PLEASE CONTACT:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
[phone]
OR
Baffinland Iron Mines Corporation
Michael T. Zurowski
Executive Vice President and COO
[phone]
[e-mail]
www.baffinland.com

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS
OF THIS PRESS RELEASE.

INDUSTRY: MNG - Mining
SUBJECT: DRM - MINING DRILLING RESULTS

FOR: Baffinland Iron Mines Corporation
TSX VENTURE SYMBOL: BIM

[Arctec]

NEWS RELEASE TRANSMITTED BY CCNMatthews




FOR: Baffinland Iron Mines Corporation

TSX VENTURE SYMBOL: BIM

January 3, 2006

Baffinland Announces the Appointment of Chief Financial Officer


TORONTO, ONTARIO--(CCNMatthews - Jan. 3, 2006) - Baffinland Iron Mines
Corporation (TSX VENTURE:BIM) ("Baffinland" or the "Company") is pleased to
announce that Mr. Robert J. Chausse, C.A., has agreed to join Baffinland as
Vice President and CFO effective March 1, 2006. Rob moved from public
accounting in 1993 and joined Kinross Gold Corporation as Controller with
growing responsibilities as Kinross became an intermediate sized gold producer.
In 1998, he joined Barrick Gold Corporation initially as Operations Controller
for North and South America and during his more than seven years at Barrick has
been involved in diverse roles in the financial and treasury group providing
analytical support to operations management and financial support to the senior
executive team. Gordon A. McCreary, President and CEO of Baffinland stated, "We
are thrilled that Rob has agreed to join the Baffinland team where he will be
key member to assist in the advancement of what we believe is a world class
iron ore project at Mary River, Nunavut, Canada. Rob's diverse financial
background in the resource sector over the last dozen years will be
instrumental as we advance the project beyond the Aker Kvaerner Scoping Study
expected later this quarter, to a Bankable Feasibility Study and ultimately,
hopefully, a producing iron ore mine focused on the direct-shipping of lump and
fines to European and other markets." Baffinland would also like to take this
opportunity to publicly thank Mr. A. George Matthew for his excellent service
to Baffinland as CFO during our first two years as a public company. Mr.
McCreary went on to say, "George's intent to throttle back his involvement in
the first half of 2006 will allow a seamless transition as Rob takes up his
duties at Baffinland."

In other news, the Company announces that it has granted stock options to
officers, directors and consultants to purchase up to 611,000 common shares in
the capital of the Company at an exercise price of $2.15 per common share,
being the closing price of the common shares on December 30, 2005, vesting over
a period of 18 months and expiring January 2, 2011. The current number of
issued and outstanding common shares is approximately 44,111,865. The options
were granted pursuant to the Company's incentive stock option plan (the
"Plan"), under which a maximum of 10% of the issued and outstanding common
shares are reserved for issuance. Following the grant of such options, a
further 1,639,187 common shares will be available for issuance under the Plan.

This press release includes certain "Forward-Looking Statements" within the
meaning of section 21E of the United States Securities and Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and
objectives of Baffinland Iron Mines Corporation, are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statement. Important
factors that could cause actual results to differ material from Baffinland's
expectations are disclosed under the heading "Risk Factors" and elsewhere in
Baffinland's documents filed from time to time with the TSX Venture Exchange
Inc. and other regulatory authorities.

- 30 -

FOR FURTHER INFORMATION PLEASE CONTACT:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
[phone]
OR
Baffinland Iron Mines Corporation
Michael T. Zurowski
Executive VP and COO
[phone]
[e-mail]
www.baffinland.com

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS
OF THIS PRESS RELEASE.

INDUSTRY: MNG - Mining
SUBJECT: PER - PERSONNEL ANNOUNCEMENTS

FOR: Baffinland Iron Mines Corporation
TSX VENTURE SYMBOL: BIM

[johnlw]

Baffinland brings Mitsubishi on-board

2005-11-30 10:03 ET - News Release

Mr. Gordon McCreary reports

MITSUBISHI TO INVEST C$5.5 MILLION IN BAFFINLAND

Baffinland Iron Mines Corp. has signed a memorandum of understanding (MOU) with Mitsubishi Corporation that provides the framework for the participation of Mitsubishi in a private placement of 2.75 million Baffinland common shares, at a price of $2.00 per share, for gross proceeds to Baffinland of $5.5-million. Upon closing of the proposed transaction, scheduled by Dec. 31, 2005, Mitsubishi would own approximately 7.2 per cent of the Baffinland shares outstanding. The MOU contemplates that Mitsubishi shall be granted certain Asian marketing rights for a portion of future Baffinland iron ore production.

"We are very pleased to welcome Mitsubishi, one of the largest diversified trading and investment companies in the world, as our first strategic investor in Baffinland," stated Gordon McCreary, president and chief executive officer of Baffinland. He went on to say: "We believe that Baffinland's Mary River iron ore deposits are truly world-class and it is appropriate to have a world-class investor such as Mitsubishi to participate in the advancement of this project. With the assistance of Mitsubishi Baffinland plans on consistently developing sales opportunities in Asia with a portion of expected production to establish long-term relationships for future growth opportunities. I commend the iron ore specialists within Mitsubishi for their early recognition of the importance of our Mary River project and we look forward to a long, growing and mutually beneficial relationship with Mitsubishi."

Mitsubishi is Japan's largest diversified trading and investment company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Mitsubishi is engaged in business with customers around the world in virtually every industry, including metals, energy, machinery, chemicals, food and general merchandise. In the iron ore sector, Mitsubishi's investments include 26.2-per-cent ownership of Iron Ore Company of Canada (IOC), Canada's largest iron ore producer, and 49-per-cent ownership of its sales division IOC Ores Sales Company, and 50-per-cent ownership of Compania Minera Huasco S.A. in Chile, in addition to a global trading presence.

During the past two years Baffinland has spent over $25-million on the advancement of its 100-per-cent-owned Mary River project, a high-grade, potential direct-shipping iron ore operation located in Nunavut, Canada. Recently Baffinland press released the available assay data from a portion of the 2005 drilling program and over the next several months Baffinland expects to release additional assay and metallurgical data, complete a new resource calculation, and complete a scoping study under the direction of Aker Kvaerner E&C.

This private placement is subject to receipt of all required regulatory approvals and receipt of appropriate internal approvals of Mitsubishi and Baffinland, all expected to be received by Dec. 21, 2005, and to be followed by a closing as soon as possible thereafter, but in any event no later than Dec. 31, 2005.

[Arctec]

Palladon Ventures Ltd (C-PLL) - Cease Trade Company Rescinded
Palladon Ventures' BCSC cease trade revoked

2005-11-17 08:43 ET - Cease Trade Company Rescinded
Shares issued 31,026,984
PLL Close 2005-11-08 C$ 0.69

On Nov. 8, 2005, the British Columbia Securities Commission ordered under Section 164(1) of the act that all trading in the securities of Palladon Ventures Ltd. cease until it files the required records and the commission revokes the cease trade order as it applies to Palladon.

Palladon has filed the required records.

Under Section 164 of the act, the commission orders that the cease trade order is revoked as it applies to Palladon to permit trading in the securities of Palladon.


Palladon Ventures Ltd (C-PLL) - News Release

Palladon Ventures earns $242,997 in Q2

2005-11-17 16:58 ET - News Release
Shares issued 31,026,984
PLL Close 2005-11-08 C$ 0.69

Mr. Donald Foot reports

2005 SECOND QUARTER RESULTS

Palladon Ventures Ltd. has released the results of its operations for the quarter ended Aug. 31, 2005. Highlights of the quarter include the completion of positive metallurgical testwork on iron ore from the Iron Mountain project, the execution of an iron concentrate sales contract, the completion of preliminary engineering and design for mining and processing ore at the Iron Mountain project, encouraging fieldwork on the company's gold and copper projects in Utah and Nevada, and the acquisition of an attractive addition to the company's Argentine mineral portfolio.

Financial results

The company reported a profit for this quarter of $242,887 (Aug. 31, 2004 ($395,259)). This occurred due to the unrealized gain on foreign exchange of $1,063,905 for the quarter that offset the actual operating loss for the three months of $823,251. As of the end of Aug. 31, 2005, the company had $398,627 in cash and $27,211,535 in mineral properties.

Project development and operations

The bulk of the company's $27-million in mineral properties consists of its interests in the Iron Springs district (the Iron Mountain project) and the Western Utah copper joint venture in Utah. The company made significant progress in the development of both those projects during the quarter, and successfully negotiated for the refinancing and consolidation of its interests. Closing of the restructuring and refinancing occurred after the end of the quarter, complicating the preparation of the financial statements. The company now has a 50-per-cent interest in the Iron Mountain project, subject to a five-year term loan of $12.75-million (U.S.) with interest at 9.25 per cent. The company's partner is Luxor Capital Partners LLP, which is also a major shareholder in the company.

During the quarter, preliminary engineering design was completed for mine and mill facilities, a mining contactor was selected, surface work was commenced for a power substation, a port facility contract was negotiated, and negotiations progressed substantially on all aspects of rail handling and shipment.

The company also vested in a 50-per-cent interest in the production portion of the Western Utah copper joint venture, a transaction that was also negotiated during the quarter but closed subsequently. The company has made significant progress in engineering and feasibility work on the project, and filed a National Instrument 43-101 technical report after the end of the quarter. Continuing drilling and other work were also carried out on the exploration portion of the joint venture. The company believes that significant progress has been made in the exploration of the large areas that have been identified for copper and gold exploration potential.

The company also performed fieldwork consisting of geology and geochemical sampling on the Caldera gold project in Nevada. Encouraging results from assays of this work were returned from the laboratory after the end of the quarter. The company plans to continue with its gold exploration projects in Nevada and Argentina as it advances work on Iron Mountain and Western Utah copper projects.

Liquidity, capital resources and financing activities

During the quarter, the company renegotiated the terms of the Luxor financing agreement and agreed to replace the interim loan with a secured five-year term loan in the principal amount of $12.75-million (U.S.) to bear interest at 9.25 per cent per year, calculated quarterly. The term loan proceeds were applied toward repayment of the outstanding interim loan provided by Luxor used to acquire the Iron Mountain properties. The balance of the proceeds under the term loan was applied toward working capital, out of which the company contributed $500,000 (U.S.) for working capital to the iron company for the operation of the iron project. As consideration for granting the term loan, the company granted to Luxor 2,357,137 share purchase warrants exercisable at 62 cents per share for a period of two years. The closing of this transaction occurred subsequent to quarter-end.

British Columbia Securities Commission (BCSC) cease-trade order/TSX-V reinstatement

On Nov. 8, 2005, the BCSC issued a cease-trade order against the company, for failing to file the interim financial statements and management discussion and analysis for the six-month period ending Aug. 31, 2005. The TSX-V subsequently suspended the trading of Palladon's securities until the company meets tier maintenance requirements. The company has now filed the interim financial statements and management discussion and analysis for the period ending Aug. 31, 2005. Reinstatement with the TSX-V is conditional upon receiving notification of all required regulatory approvals.

Union Pacific railroad company retraction

On its news in Stockwatch dated Nov. 4, 2005, the company stated that costs incurred for rail exchange tracks near Iron Mountain will be " ... reimbursed from the railroad during the first year of operations." This statement should be considered retracted as the company is not at this time certain whether such a term will be a component of the final contract with the railroad.

[Tackler]

Buying op coming on PLL...

Palladon Ventures suspended by the BCSC

2005-11-08 20:47 ET - Cease Trade/Suspend Company

The British Columbia Securities Commission has issued a cease trade order against the company for failing to file financial results within the required time period.

Upon revocation of the cease trade order, the company will remain suspended until it meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of the company during the period of the suspension or until further notice.

[Tackler]

Palladon continues Comstock/Mountain Lion redevelopment


2005-11-04 13:18 ET - News Release

Mr. Hamish Greig reports

PALLADON VENTURES LTD. PROVIDES UPDATE ON IRON MOUNTAIN PROJECT

Palladon Ventures Ltd. is providing the following update on the Comstock/Mountain Lion mine on Iron Mountain, near Cedar City, Utah.

In spite of recent delays occasioned by material shortages in the wake of hurricanes in the Gulf Coast, the company has made steady progress in commissioning the redevelopment of the historically productive mining facility. Given the strong demand and attractive pricing for iron ore concentrate product, the company has made the determination to proceed with plans to double the originally planned production rate to produce two million metric tonnes per year. This revised plan is also based on the positive reactions from numerous potential customers who recently analyzed the company's concentrates. The company intends to sign additional contracts when construction schedules and completion dates are more fully known. Palladon entered into a contract in August with a Chinese purchaser for the sale of one million metric tonnes of iron ore concentrates over the next year.

Gilbert Development Corp. has been mobilized as the mining, processing and loading contractor for the project and continues to provide valued service in all areas of the development process. While the primary focus at present is the construction of the mill, Gilbert will engage in the more straightforward task of mining, processing and stockpiling once the construction of facilities nears completion. Gilbert will mine an average of 200,000 metric tonnes of ore per month once formal mining commences. Stockpiled materials may be processed in addition to mined ore to reduce interruptions caused by adverse winter weather conditions.

The old power station at the project was dismantled after operations ceased a decade ago and a new one is required. The company is pleased to report that it has completed engineering and broken ground on the new substation. In spite of acute shortages occasioned by recovery efforts in the Gulf Coast, the company has secured all needed wire and poles, and awaits a final commitment date on transformers. The design of the new substation will bring a more consistent power supply, connecting to a 138-kilovolt-ampere line that can be expanded as power demands increase. The company has saved over 60 per cent of the costs by contracting out the work instead of using the power provider.

The company's project has also been approved by the Union Pacific Railroad for major rail service, even as other major projects have been rejected. The company recently learned that additional time will be required to complete modifications on the rail exchange tracks. Costs incurred for the completion of rail exchange tracks will initially be borne by the company, however, will be reimbursed from the railway during the first year of operations. Palladon has been able to reduce its construction costs for the rail exchange tracks by 50 per cent by contracting out these processes and the company will proceed with an aggressive completion schedule.

Cement is also scarce at this time; however, the company has secured sources and will use the existing mill foundation to save on costs. A demolition crew is currently removing and salvaging the old facilities. A full-time security firm has been contracted and has started providing surveillance and security measures on-site.

Palladon's management and advisory team have extensive managerial experience and expertise in metallurgical and mining engineering, mineral processing, and mining project development. The basis for the company's decision to redevelop the mine using only historic resource estimates and feasibility studies stems from the wealth of historic data available on the geologic occurrence, the attractive iron ore market at the present time, favourable operating cost estimates and the properties of the project's magnetite iron product itself. Metallurgical testing has shown that minus-270-mesh ground iron ore can be upgraded to a commercial product at grades up to or in excess of 68 per cent iron.

The company intends to ship product in the first half of 2006 based on a very aggressive construction schedule. It should be understood that this schedule is in part contingent upon the availability of materials and the securing of additional project financing.

Previous estimates of project completion, as reported on Aug. 2 and Aug. 30, 2005, should be considered retracted. The company reiterates that although it is proceeding aggressively to construct an operational iron mining facility, it has not yet finalized the development schedule to provide a more specific date for the commencement of commercial production. The company intends to provide updated financial and scheduling parameters as soon as possible and hopes that the completion of the mill and the decision to double its potential capacity will coincide with economically viable conditions as the company enters the marketplace.

Looking to the future, Palladon intends to evaluate production scenarios above and beyond producing iron ore concentrates. Palladon received, with the acquisition of the project, an extensive definitive feasibility study conducted for Geneva Steel in 2001. The study demonstrates the amenability of the Iron Mountain ore to direct reduction processes to produce pig iron and steel, and also electricity from project cogeneration.

[johnlw]

From Action Direct:

Labrador Iron Ore Royalty Income Fund (LIF.UN) - $23.29
Underperform, Above Average Risk – Price Target: $21.00
As noted on Friday, Iron Ore Canada reported Q3 iron ore sales that were well below the RBC CM forecast. Q3 iron ore sales of 3.50 million tonnes were 19% below the RBC forecast of 4.32 million tonnes. This is the third quarter in succession that sales have missed the forecast. While RBC CM analyst Dirk Lever believes pellet plant expansion at Sept-Iles in 2008 may still be attained, IOC needs to achieve higher iron ore concentrate production than current levels indicate. IOC has not provided an update regarding the expansion. RBC CM has reduced the cash flow and distribution forecast to forecast lower production as well as a lower US dollar exchange rate. The distribution forecast for 2005 declines to $1.85/unit from $2.10/unit. Labrador remains ranked Underperform, Above Average Risk. The price target was lowered from $23.00 to $21.00.

[Tackler]

Palladon Ventures Ltd. Files Updated Technical Report on Iron Project

Monday October 24, 2:43 pm ET

SALT LAKE CITY--(BUSINESS WIRE)--Oct. 24, 2005--Palladon Ventures Ltd. (the "Company") (TSX VENTURE:PLL - News) announces that it has filed a Technical Report compliant with NI 43-101 on the Comstock/Mountain Lion iron project near Cedar City, Utah. The technical report was prepared by Mr. Rick Russell, MSc., Geology, and is expected to be available on SEDAR by October 25. The report cites an historic iron resource estimate of 114,097,000 metric tonnes (mt) at an average grade of 40.8%. This total combines: historic estimates by Geneva on the Comstock/Mountain Lion area (25,031,000 mt at an average grade of 47% Fe) and the Rex deposit (89,066,000 mt at an average grade of 39.0% Fe with a 6.02 to 1 stripping ratio).

The most recent historic resource estimates reported by Geneva Steel determined that the measured iron resource in the Comstock/Mountain Lion portion of the district was estimated at 17,961,137 mt of iron-bearing rock averaging 53.4% Fe, and 7,070,000 mt of 'lean ore' averaging 31.3% Fe, with a total of 7,536,000 cu. meters of waste rock requiring removal in order to access all of the iron mineralization. The total of this occurrence is 25,031,000 mt averaging 47.1% Fe with a stripping ratio is 0.30 m3 to one. The precise date of this calculation is not known nor the system used to calculate it.

The most recent estimate performed on the Rex deposit was calculated in a 1991 study by Pincock, Allen & Holt for Cyprus Minerals. Originally drilled by CF&I between 1949 and 1962, a total of 203 vertical core holes were drilled, aggregating 60,000 m of which 14,300 m were chemically analyzed.

The author recommends that the Company perform the following activities over the next twelve months:

- Perform NI 43-101 compliant estimates to update and verify historic resource estimates on the Comstock/Mountain Lion and Rex iron deposits.

- Complete a series of 1-year and 5-year mining plans for the Comstock/Mountain Lion deposit and define areas in the deposit that will require additional drilling to validate, upgrade or possibly add iron resources for future extraction;

- Survey and sample various stockpiles of iron-bearing material on the property to delineate potential NI 43-101 compliant resources, and determine their economic viability.

Disclaimer:

These historic estimates by Geneva Steel and its predecessors do not conform to modern NI 43-101 standards and have not been verified by Palladon. Although Palladon believes the estimates to be reliable, the estimates are mentioned for reference only, and should not be considered reliable or accurate until updated studies and estimates are performed.

Mining Plan

A resource estimate completed by NorWest Mine Services, Inc. ("NorWest") in November, 2001, for Geneva Steel, estimated that the Comstock/Mountain Lion area contains 20,337,297 short tons averaging 51.6% Fe, not including any stockpiles. The author was not involved in the preparation of this study but considers the estimate to be reasonably accurate. The study was completed after February 1, 2001, the date on which NI 43-101 standards and guidelines were enacted, but is not included in historic resource calculations.

After reviewing the NorWest resource estimate, Mr. Russell used the study as the basis for a 12-month mining plan involving the planned extraction of a portion of the materials therein; approximately 1,300,000 mt of 55.33% Fe (Russell, 2005). The materials to be extracted in the mining plan are pre-stripped and lying in open benches in the open pit and have a minimal strip ratio. Mining costs, processing costs and shipping costs have all been quoted from reputable contractors and providers, along with port costs, and a contract to sell one million metric tonnes over the next 12 months has been executed. The mining plan is detailed in the Russell technical report.

Initial production will involve the mining of up to 1.3 million mt of iron-bearing material which will be processed into iron ore concentrates grading 68% iron. The mining plan described in the technical report defines blocks to be extracted in whole or in part during initial production. Palladon has selected Gilbert Development Corp ("Gilbert") of Cedar City, Utah, as the mining contractor at the Comstock/Mountain Lion iron deposit. Gilbert was the contract mining company for Geneva Steel for over 12 years before suspension of operations in 1995.

Palladon can cite no current mineral resources or mineral reserves on the project and has not performed a feasibility study. The Company has solicited a bid from NorWest, and is contemplating soliciting bids from other engineering firms, for the cost of updating and expanding the NorWest 2001 cost study, including the cost of updating the resource estimate in conjunction with a feasibility study which will provide more accurate data for long-term mine planning.

Palladon has chosen to commence production activities in order to generate cash flow during the present period of high iron ore prices. Palladon intends to perform additional work in the future to more fully delineate the iron deposit, and provide current resource figures compliant to modern NI 43-101 standards. Palladon also plans to build inventories with conforming materials to keep several years ahead of production.

Disclaimer:

Developing mineral deposits is dependent on a number of criteria, including the technical skill of the management team. The commercial viability of a mineral deposit is dependent on a number of factors including size, grade, and proximity to infrastructure, as well as metal prices. Palladon believes that the grade and quantity of iron ore on the project is sufficient to justify resumed mining and production, and states that risks include having inadequate materials of sufficient grade to mine, and that processing and recovery methods may not be successful.

Processing Plan

Metallurgical tests performed by Dawson Metallurgical Laboratories Inc. ("Dawson") of Salt Lake City have demonstrated the amenability of the iron ore to grinding and magnetic separation processing to produce a concentrate meeting customer specifications. Most of the assay work verifying the quality of the product was performed by Lerch Brothers Inc., of Hibbing, MN. Results of these tests conclude that a magnetite product containing at least 67% total iron may be produced from the relatively high-grade ore. Additional test work on this material has been recommended to determine the dewatering characteristics of the final concentrate and tailings. Dawson's study is presented in more detain in the Russell Technical report.

Moving Ahead

Palladon is moving ahead with efforts to put the Comstock/Mountain Lion iron deposit into production, fully aware of the risks of commencing production without a current feasibility study or updated resource estimate. The mining contractor has mobilized to prepare for full mining operations. Palladon has made arrangements with the port of Richmond, CA for loading of concentrates into its customers ships, and is in final negotiations with Union Pacific Corp. to secure a transportation contract. Palladon is preparing pad sites for the new mill and magnetic separator, upgrading rail lines and power substations, and finalizing the new material handling facilities. Palladon plans to start production at the Comstock/Mountain Lion iron deposit in early 2006. The Company intends to provide an update to shareholders on progress with the project, to discuss parameters, risks, and capital requirements in advancing the project towards commercial production.

Palladon entered into a sales agreement with Chemetals Inc. on July 15, 2005, in which Palladon has agreed to sell Chemetals 1 million metric tones of upgraded iron concentrate grading 67% Fe during the next 12 months. As per the sales contract, the terms of the sale are confidential. Palladon expects that financial terms of agreement will provide for a significant operating margin to generate a cash flow during the first year of operation.

Qualified Person and Quality Assurance and control

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. 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.

Don Foot, President & Chief Operating Officer, Director

This summary is derived from the qualifying report prepared by Rick Russell, M.Sc, Geology, who served as the Qualified Person responsible for the preparation of the Technical Report as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Russell has consented to the information presented herein.

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.

--------------------------------------------------------------------------------
Contact:
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
[phone]
Fax: [phone]
[e-mail]
www.palladonventures.com

[Tackler]

I look forward to it.

[mhlld]

PLL, according to the Aug. 30 press release, we should have a
boatload of info coming soon, hopefully next week.

http://www.palladonmining.com/s/PressReleases.asp?ReportID=116251&_Type=Press-Releases&_Titl....

[Tackler]

Here is a deal with China, come on PLL...

MBMI Resources options out Philippine properties

2005-10-03 14:25 ET - News Release

Mr. David Tafel reports

MBMI RESOURCES ENTERS STRATEGIC RELATIONSHIP WITH CHINESE STEEL PRODUCER

MBMI Resources Inc. has reached an agreement with Zhejiang Huaguang Smelting Group Co. Ltd. to invest in its Bethlehem and Alpha nickel projects in the Philippines. Under the terms of the agreement, formal transaction documents are expected to be completed within 35 days. HGMG will invest $4-million (U.S.) for a 16-per-cent interest in the projects. HGMG has an option for 60 days after closing to increase its interest in the projects to 20 per cent by investing an additional $1-million (U.S.). These funds will be used for the continued exploration and the development of the company's projects on the Alpha and Bethlehem properties, which are located approximately five kilometres west of the town of Narra on Palawan Island in the Philippines. The agreement is subject to approval of the boards of directors of MBMI and HGMG and any necessary regulatory approval.

Michael Mason, president of MBMI, said: "The investment by HGMG will allow for the development of the direct shipping ore projects on the Alpha and Bethlehem properties. MBMI is excited to have a large Chinese steel producer who will purchase some of the product from these mines as our partner. It is the intention of the partners to bring a small-scale direct shipping ore mine into production as soon as possible. This mine will be expanded as soon as the mineral resource on these properties is fully delineated."

HGMG is a private Chinese steel producer which currently operates three blast furnaces in China and consumes 1.2 million tons of direct shipping nickel ore per year producing a ferro-nickel product for use by stainless steel producers.

[Ed Monton]

Nice move in BIM lately.

[Tackler]

Found it, its actually http://www.hotcopper.com.au

[Tackler]

Thanks I will check it out, you scooped up a good name there.

[earthfarm]

Tackler,
www.hotcopper.com
I post under the name yellowcake! It is not bad. A lot of ramping and dreary dribble but when announcements come through you can sometimes get some good thoughts processes coming through from some of the smarter fellas. Big rise in uranium late last week. All good mate!
Regards
earthfarm

[mhlld]

Iron Ore Prices to Rise 15% in 2006--Forbes 9/30/2005
Excerpt from article...
In contrast, iron ore prices are likely to rise.

Analysts said Australian exporters such as BHP Billiton and Rio Tinto are expected to seek iron ore price rises, again arguing they should share in the benefits of lower shipping costs from Australian mines to Asian markets compared with the shipping costs from other sources in Brazil and India.

The Macquarie commodity analysts this week upgraded their forecasts for bulk commodities to reflect its 'stronger for longer' view as China remains the key demand driver.

They said iron ore producers are best placed to gain further price rises next year, adding that market opinion is changing from previous expectations of a roll over in prices.

'With upcoming 2006 price negotiations drawing nearer, we are seeing an unprecedented shift in expectations for 2006 iron ore prices,' they said.

The Macquarie commodity analysts now forecast a 15 pct rise in iron ore prices compared with an earlier view that prices will be rolled over.

Analysts said iron ore and coking prices are being supported by a surge in world steel production over the past five years, and particularly growth in China's steel output.

Macquarie Bank senior commodities analyst Jim Lennon recently told a group of industry participants in Sydney while growth in China's steel output will slow from a present rate of 27 pct year-on-year, output will still be high.

He expects China's steel output in 2005 to be 345 mln metric tons or 30 pct of the world production of 1.129 bln tons, an increase from 274 tons in 2004.

Lennon expects China's steel output to reach 516 mln tons by 2010, or 37 pct of forecast world demand of 1.389 bln tons.

Meanwhile, China is expected to be a net importer of coking coal in the coming years due to the closure of small and inefficient mines, analysts said.

http://www.forbes.com/markets/feeds/afx/2005/09/30/afx2253067.html

[Tackler]

Guelb el Aouj Iron Ore Project, Mauritania, West Africa

http://www.sphereinvestments.com.au/

[Tackler]

Everyone to your seats please...

Palladon secures new long-term loan for iron project

2005-09-26 20:03 ET - News Release

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.

[Tackler]

Opening introduction...

[Tackler]

The stage is set...

Palladon Ventures selling 50% of subsidiary to Luxor

2005-09-23 16:16 ET - Acquisition

The TSX Venture Exchange has accepted for filing documentation pertaining to Palladon Ventures Ltd.'s disposition of a 50-per-cent interest in Palladon Iron Corp., a subsidiary of the company that holds the Rex, Mountain Lion and Comstock iron properties situated in Iron county, Utah, to Luxor Capital Partners LP.

In consideration for the 50-per-cent interest, Luxor will pay the company $3-million (U.S.) in cash and forgive fees and expenses related to a long-term loan provided by Luxor to the company.

The company agrees to pay Western Utah Copper Co. a finder's fee of $500,000 (U.S.) in relation with the acquisition of the Rex, Mountain Lion and Comstock iron properties, which was approved by the exchange on April 28, 2005.

[Tackler]

NAU Northland Resources hits 47.4% Fe, 0.10% Cu in Sweden

2005-09-14 10:47 ET - News Release

Mr. Buck Morrow reports

NORTHLAND CUTS 47.4% IRON OVER 50.8M, STORA SAHAVAARA IRON ORE PROJECT, SWEDEN

Northland Resources Inc. is providing the iron and copper assays for four metallurgical test holes drilled at NAU's Stora Sahavaara magnetite (iron) project in Sweden.

Results have now been received for holes SAH05-001 through 004. Iron grades range from 44.1 per cent to 51.6 per cent total iron, with a weighted average for all four holes of 45.8 per cent iron and 0.08 per cent copper over 47.2 metres. A full table of results for the four holes is given below.

 
     TABLE 1: IRON GRADES FOR STORA  
    SAHAVAARA METALLURGICAL DRILLING 
  
 Hole 
  No.    From    To   Width    Fe     Cu  
 SAH05-  (m)    (m)    (m)    (%)    (%) 
  
  001   30.9   81.7   50.8   45.0   0.06  
  002   37.1   84.2   47.1   46.4   0.10  
  003   28.6   79.4   50.8   47.4   0.10 
  004   39.2   79.5   40.3   44.1   0.06 
 --------------------------------------- 
 Weighted average      
 of all four holes    47.2   45.8   0.08 
 --------------------------------------- 
 

Buck Morrow, the president of Northland, commented: "I'm delighted that the iron grades from our drilling at Stora Sahavaara are almost exactly in-line with the grades reported by the Swedish Geological Survey from their drilling. The material is now in the metallurgical lab in the U.S. and we hope to be able to comment on the met testing results within four to six weeks. From here, we'll be looking to develop a substantial magnetite resource figure that is compliant with NI 43-101."

The drill program was designed for representative metallurgical testing of approximately 800 metres strike length of the Stora Sahavaara deposit. All drill holes are oriented normal to the strike of the magnetite zone and the angle between the inclination of the drill hole and the dip of the zone is estimated at 70 to 75 degrees for a minus-50-degree hole and 60 to 65 degrees for a minus-60-degree hole. True widths of the mineralization are therefore estimated to be plus 90 per cent of drill intercept.

Historic drill data indicate that the body can be traced for 1,300 metres along strike and subcrops close to surface below a few metres of glacial till. The body -- which is reported to be between 40 metres to 100 metres in true thickness -- appears to be open down-dip below the current known extent of 750 metres.

Vance V. Thornsberry, PGeo, vice-president of exploration for Northland Resources, is the qualified person as defined in National Instrument 43-101 responsible for the design and execution of the Stora Sahavaara drill program.

[mhlld]

Palladon... Expecting an update on the Iron property resource as well. Additional iron ore contracts currently in negotiations, news could be released at any time. First ore to be shipped by Nov. 15.

[Tackler]

PLL Palladon Ventures Copper property news out today...

<edit> Not Iron

Palladon files Milford technical report

2005-09-14 19:12 ET - News Release

Mr. Hamish Greig reports

PALLADON VENTURES LTD FILES NI 43-101 TECHNICAL REPORT ON THE WESTERN UTAH COPPER PROJECT

Palladon Ventures Ltd. has completed a technical report, dated Aug. 18, 2005, complying with National Instrument 43-101, covering the Milford mineral belt. The report was prepared by Mine Development Associates (MDA) of Reno, Nev. The report has been sent for filing on SEDAR in Stockwatch and it is expected to be available for public inspection on or about Sept. 16, 2005.

About the district

Work in the mineral belt dates back to the late 1800s. Modern mineral exploration in the Milford mineral belt began in the early 1950s and has continued to the present time. With the exception of some work exploring for gold and tungsten, most of the exploration has been directed to exploration and development of the copper ores in the mineral belt. Recorded historic production from the mineral belt has totalled over 55 million pounds of copper.

Historic resource estimate

Nineteen-ninety-eight feasibility study on areas previously explored and partially mined

A feasibility study for mining the OK mine, Copper Ranch, Hidden Treasure and Maria deposits was completed in 1998 by Western States Engineers, with MDA supplying the resource and reserve information and mining costs for the study. Palladon is currently updating the study to reflect current costs and conditions. The study discussed the development of the previously identified mineralized materials, including in excess of 3.1 million tones with an average grade of 1.18 per cent copper, using a cut-off grade of 0.40 per cent, in the Hidden Treasure, Maria, Copper Ranch and OK mine areas, containing 73 million pounds of copper. These materials are now included in the technical report as indicated resources, pending the additional work now being done to reflect current costs and conditions.

Conclusions and recommendations from the technical report

The technical report concludes that a phase 1 budget be used to develop and improve the knowledge of the known deposits. A phase 2 feasibility study should be done for mining the areas of known mineralization and follow up for the resources developed in phase 1. Palladon and its joint venture partner, Western Utah Copper Company, expect to expand the tonnage of mineralized materials and perform the additional work to categorize the previously identified materials, as well as newly identified materials as reserves and resources within the parameters of National Instrument 43-101. Palladon also plans to complete feasibility study activities to enable the financing and development of production on these areas.

The technical report also concludes that the Milford mineral belt is highly prospective for porphyry copper deposits, as well as developing additional skarn resources. Recent work by Palladon and WUCC has identified six porphyry copper targets and target areas across the length and breadth of the Milford mineral belt, which targets heretofore have been ignored or underexplored by previous investigators. Many areas of known mineralization remain to be developed in more detail. In the Milford mineral belt there are widespread copper occurrences and district wide metal zoning. Similar occurrences are often seen with porphyry copper deposits. MDA believes that the exploration potential of the mineral belt is excellent and that a multiphase program is necessary to explore such a large mineralized area.

Additional exploration and new resource estimate

Exploration inside the 1998 feasibility areas

In 2004, Palladon conducted several rounds of drilling to confirm areas of mineralization included in the 1998 study and to expand on some of those areas. Palladon also conducted drilling on the Comet breccia area to test for gold potential. See news in Stockwatch dated of May 4, 27 and 31, 2004; June 11, 2004; and Oct. 25, 2004. Palladon also conducted geophysics inside and outside the 1998 study area to aid in further exploration in both cases. See news in Stockwatch dated Aug. 19 and Oct. 25, 2004. The objectives of the exploration inside the 1998 study area are to confirm and expand upon the previously identified historic resource estimate and aid in the work now being performed to reflect current costs and conditions. Palladon believes that significant additional tonnage can be added to the historic resource estimate and that an updated feasibility study can be completed on the historic resources, as well as new resources yet to be delineated. Most of the deposits are open along strike and at depth, and Palladon believes there is excellent potential to add more copper resource with additional drilling.

Exploration outside the 1998 feasibility areas

The technical report discusses in considerable detail the vast areas that are prospective for porphyry copper exploration within the Milford mineral belt. Palladon and Western Utah Copper Company will continue the exploration activities in these areas, which have also included geophysics and drilling over the past 18 months. As stated in the technical report: "The Milford mineral belt contains an extensive area of mineralization. Many companies have explored the area and most have found mineralization that requires further exploration. In addition to exploration around the deposits of Hidden Treasure, Maria, Copper Ranch and OK Mine, many areas with potentially economic mineralization are known to exist but with limited drill information."

Qualified person

Neil Prenn of Mining Development Associates (MDA), a mining engineering service company from Reno, Nev., has completed and filed a National Instrument 43-101 technical report for Palladon on the Milford mineral belt, located in the Rocky, Beaver Lake and San Francisco mining districts, of Beaver County, Utah.

[mhlld]

India Cutting Iron Ore Exports

I've been following this for a while. It started when China cut coking coal exports to India. Looking for Iron ore prices to rise next year.
Govt may cut iron ore export to feed local firms
http://in.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2005-09-03T001158Z_0...

Mittals are welcome but iron ore exports not allowed: Munda
http://www.hindustantimes.com/news/181_1487110,0002.htm

Essar warns against doling out huge ore to foreign steel cos
http://economictimes.indiatimes.com/articleshow/1219139.cms

[Tackler]

Palladon Ventures Ltd. Announces Restructured Financing and Iron Project Transactions

Friday August 26, 9:05 pm ET

BROOMFIELD, Colo.--(BUSINESS WIRE)--Aug. 26, 2005--Palladon Ventures Ltd. (TSX VENTURE:PLL - News; the "Company") is pleased to announce that it has agreed with Luxor Capital Partners, LP ("Luxor"), subject to standard closing conditions and Exchange approval, if required, to restructure the pending transactions covering the Mountain Lion/Comstock Iron Project (the "Project"). The pending convertible debenture financing will be withdrawn, and the parties will restructure the US$10.3 million 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 9.25% interest payable over five years. As a part of the restructuring, Luxor will acquire 50% of the Project, 35% from Palladon's joint venture partner Western Utah Copper Company and 15% from Palladon. Consideration for the 50% purchase will include US$3.0 million in direct acquisition cost and US$0.6mm in forgiveness of legal and financing fees. In addition, Luxor will contribute US$500,000 of equity to the Project and advance US$1.4 million for general corporate purposes under the new term loan (bringing the total amount outstanding under the term loan to US$12.75 million). Upon consummation of the transaction, Palladon will use a portion of the US$1.4 million committed to general corporate purposes to fully vest in the Western Utah Copper project. Additional loan proceeds will be set aside to fund 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 $0.82, 1 million shares at $0.92, and 1 million shares at $1.00.

Proceeds of the transaction will enable further advancement on the iron project. Palladon recently signed an agreement to sell 1 million metric tons of iron ore over a twelve 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 items 7 & 8 before shareholders at the Annual General Meeting Monday, August 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."

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.

Palladon Ventures Ltd. (TSX VENTURE:PLL - News)



--------------------------------------------------------------------------------
Contact:
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
[phone]
Fax: [phone]
[e-mail]
www.palladonventures.com



--------------------------------------------------------------------------------
Source: Palladon Ventures Ltd.

[Tackler]

PLL another bounce off the 50dma?...

[Tackler]

MIX Micrex Development http://www.mixcorp.com

[Tackler]

Nice reaction in the stock today. I took a position late last week after your persistent posting. Thanks!

[mhlld]

Just the one contract should be worth $53-60 million usd. Negotiations on others ongoing. My guess, is a margin of $10-$20 a tonne. I've asked the company for a rough estimate on annual production capacity, they wouldn't give me a figure. Oh well, I tried..

[Tackler]

How much coin are we talking here?

[mhlld]

Palladon Ventures Ltd. Announces Contract to Sell One Million Metric Tons of Iron Ore
Tuesday August 2, 5:51 pm ET


BROOMFIELD, Colo.--(BUSINESS WIRE)--Aug. 2, 2005--Palladon Ventures Ltd. (TSX VENTURE:PLL - News; 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.

Palladon Ventures Ltd. (TSX VENTURE:PLL - News)

Contact:
Palladon Ventures Ltd.
Hamish Greig
Corporate Communications
[phone]
Fax: [phone]
[e-mail]
www.palladonventures.com

http://biz.yahoo.com/bw/050802/26042.html?.v=1

[mhlld]

Palladon Ventures, Read the whole article, I think someone spilled the beans to the local newspaper. Iron ore is going to China, starting as soon as 6 weeks.

CEDAR CITY - Palladon Ventures Ltd. announced last Thursday it selected Gilbert Development Corp. of Cedar City to mine the reserves at the Comstock Iron Mine west of the city under contract to its subsidiary, Palladon Iron Corp.

Russ Fotheringham, director of development for Palladon, said Gilbert Development is getting ready to mine the iron ore as part of the project's first phase.

The first phase constitutes selling the ore directly to create a cash flow for the other two phases of development - building a plant to process the ore into steel and selling steel products.

Fotheringham said all the overburden has been removed and Gilbert will start ore extraction at the lower benches of the mine.

Gilbert Development contracted under U.S. Steel Corp. and Geneva Steel in the 1980s and 1990s and has extensive experience with the mine and process to remove the ore, according to a July 14 Palladon press release.

"We'll be going out there and doing our thing like we did before and hopefully turning that effort into good financial gain for Cedar City as far as employment and economic development," said Steve Gilbert, CEO and president of Gilbert Development. "You know they have big plans, which includes us building a $30 (million) to $40 million magnetic concentrating plant that is in design and in process."

Gilbert said he became involved with Palladon merely three weeks ago after the company put the contract out to bid to approximately 12 of the largest mining contractors in the United States. Not all chose to bid.

However, upon receiving an email from a Cedar City resident about Gilbert, who was not asked to bid for the contract, Palladon contacted the local company and eventually awarded the bid.

"They told us we were the answer to their prayers because we know everything they are in need of from our previous experience working the Comstock," Gilbert said. "No one else is as familiar as we are when it comes to issues of weather, freezing and ground waters and how you work with them because it's pretty hard to mine wet material. We've been out there forever and can honestly say that we've been there and done that."

Fotheringham said Palladon is working with Union Pacific to secure railroad cars. The cars will be needed at the mine to transport the ore to Richmond, Calif., where it all will be shipped to China.

The goal is not to continue to ship overseas, however, Fotheringham said. The company will ship to China for three years because there is a voracious need for iron ore there.

Palladon plans to move to phase two of the project by the end of three years.

For now, Gilbert Development is setting up equipment to mine and stockpile the ore.

Gilbert said the ore may begin to roll out as soon as six weeks.

Fotheringham said Gilbert Development will use crushing and magnetic separation to get the ore, then the ore will be loaded into the rail cars.

The end goal is beneficiation, or the method of concentrating, the ore to 65 percent iron, Fotheringham said.

"Currently, most people are buying iron ore minimally between 63 (percent) to 65 percent iron," said Don Foot, vice president of Palladon Iron Corp. "We need to produce a product in that range, and because we have a magnetite iron, we have the ability to produce a fairly good grade as we drive the impurities out of the ore by grinding it and using magnetic separation."

Part of the reason Palladon chose the project in Iron County is because of its rich iron stores.

"The quality of the iron in the mine is such that it is upgraded very easily and has a very good concentrated grade by just grinding it and using magnetic separation. The higher the grade, the better, for two reasons: it does give you a premium on price, and two, yields less material to ship," Foot said.

The company has reached its goal of getting into phase one by the end of the year, although Fotheringham said during a public meeting on April 26 that the company would complete a feasibility study first.

Fotheringham said the company is holding off on a feasibility study until after the project yields a cash flow. The study will look at the steel processing plant of the project's second phase.

Foot said having a pig iron and steel plant - estimated at $680 million - will be a great supplier for the western United States since the closest steel plant to the West Coast is in Chicago.

"It's a huge investment and that's why we're doing it in stages. It will be a few years away but eventually bring numerous jobs to Cedar City," Foot said. "We love the idea of having one of the best mining corporations that is local to keep work in the local community, and we intend to make every effort to do that."

Fotheringham said on April 26 the company estimates that about 400 jobs will be created as a direct result of the mining operation, with about 1,200 indirect jobs.

Gilbert said he has 100 employees working on the project.

Palladon purchased the property April 14 because it believes the reserve provides an excellent opportunity.

Fotheringham said the company estimates there are enough iron ore assets to last a minimum of 40 years; it's the largest deposit in the west with the highest concentration of iron in the United States.


Originally published July 24, 2005

http://www.thespectrum.com/apps/pbcs.dll/article?AID=/20050724/NEWS01/507240337&SearchID=7321587...

[echarter]

Lap us lazy eyes.

How did you know her name?

Elyite Pb4CuSO4(OH)8
Macphersonite Pb(SO4)(CO3)2(OH)2

Cumingite Pb21Cu20Cl42(OH)40

Note the Aquamarine Be3Al2Si6O18 hydration.

Cummingtonite (MgFe)7Si8O22(OH)2

Ashoverite Zn(OH)2

Which is a variety of Sweetite Zn(OH)2

Beaverite Pb(CuFeAl)6(SO4)4(OH)12

I am not making this up.

EC<:-}

[Tackler]

Lapas lazuli?

[echarter]

Prospecting Beach Sands with Assistant


Assistant Examines Outcrop(Note Advanced Prospecting Technique)