Friday, April 04, 2008 8:15:26 AM
Bob Moriarty
Apr 4, 2008
I first wrote about Palladon in February of 2005 when the stock was $.435. Last December I wrote about them again but as a tax-loss selling candidate. The stock was $.19 a share. The stock has been a disappointment to me and all of my readers for three years now.
That just changed. The long-awaited and long-promised deal was just announced.
It's a barnburner for Palladon and 50% partner, Luxor Capital. A Chinese steel company has agreed to buy 2 million tons a year at market prices, FOB Long Beach, California. They are buying run-of-mine ore. Palladon has to do minimum processing, pretty much blast, mix with an existing stockpile and ship. They will be mining and shipping 55% FE ore.
Here's how the numbers work out. Iron just saw a 65% price increase. 55% iron FOB Long Beach is probably worth between $60 and $90 a ton. It costs Palladon between $35 and maybe $45 to blast, mine, mill and mix. Palladon also picks up the loading in Utah and transportation to the West Coast. So my figures show Palladon's 50% interest in the project should be worth $25 to $45 profit per ton on a million tons. So $25 to $45 million a year profit starting in about 120 days.
Palladon's market cap today is about $27 million dollars. This is the deal we all have been waiting for. Palladon needs to raise about $5 million to begin shipping. They expect to be shipping in about 120 days. I expect the company to have something like 100 million shares fully diluted after the PP.
I owned shares before. As soon as I saw the Press Release I bought more. I intend to participate in the Private Placement which I fully expect to take place at a higher price than today. I am biased. They are advertisers. Do your own math and due diligence. Believe it or not, iron has gone up more in the last 7 years than gold has. Iron is better than gold and Palladon/Luxor are sitting on one of the most attractive deposits in North America.
Palladon Ventures
PLL-V $.37 (Apr 3, 2008)
PLLVF-PK 76.4 million shares
Palladon Ventures website
###
Apr 3, 2008
Bob Moriarty
President: 321gold
http://www.321gold.com/editorials/moriarty/moriarty040408.html
Recent FE News
- FirstEnergy Set to Plant More Than 25,000 Trees in 2024 • PR Newswire (US) • 04/23/2024 05:11:00 PM
- Work Underway to Upgrade Electric System in Erie County, Pennsylvania • PR Newswire (US) • 04/18/2024 03:05:00 PM
- FirstEnergy Names John Combs Senior Vice President, Shared Services • PR Newswire (US) • 04/16/2024 12:15:00 PM
- Settlement Reached in FirstEnergy Ohio Utilities' Grid Modernization Plan • PR Newswire (US) • 04/15/2024 04:34:00 PM
- Tree-Trimming Work Underway to Help Prevent or Minimize Power Outages for JCP&L Customers • PR Newswire (US) • 04/10/2024 02:33:00 PM
- FirstEnergy to Webcast First Quarter Earnings Teleconference • PR Newswire (US) • 04/03/2024 03:50:00 PM
- FirstEnergy Pennsylvania Will File Rate Review to Support Continued Service Reliability Enhancements for Customers • PR Newswire (US) • 04/02/2024 11:30:00 AM
- Tree-Trimming Work Underway to Help Prevent or Minimize Power Outages in West Virginia • PR Newswire (US) • 04/01/2024 05:32:00 PM
- Northeast Ohio Electric Grid Stronger and More Resilient Following Power Line Enhancements • PR Newswire (US) • 03/28/2024 02:03:00 PM
- FirstEnergy Closes on $3.5 Billion FirstEnergy Transmission, LLC 30% Interest Sale • PR Newswire (US) • 03/25/2024 08:20:00 PM
- FirstEnergy Named Top 50 Diversity Employer by Minority Engineer™ Magazine • PR Newswire (US) • 03/20/2024 05:12:00 PM
- FirstEnergy Corp. Declares Increased Common Stock Dividend of $0.425 Per Share • PR Newswire (US) • 03/20/2024 04:40:00 PM
- Construction is Underway on Second Utility-Grade Solar Site in West Virginia • PR Newswire (US) • 03/19/2024 04:31:00 PM
- FirstEnergy's Impactful Recycling Initiatives Highlighted on Global Recycling Day • PR Newswire (US) • 03/18/2024 04:00:00 PM
- Electric Grid Upgrades Underway in Lorain County • PR Newswire (US) • 03/14/2024 06:12:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:24:21 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:23:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:22:24 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:21:34 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:20:22 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:18:50 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:17:40 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:16:28 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/29/2024 05:13:06 PM
- Work Underway to Upgrade Electric System in Western Pennsylvania • PR Newswire (US) • 02/26/2024 08:30:00 PM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM