Firstenergy Corp. (FE)

[mhlld]

Palladon News... Getting very close to shipping ore.
Excerpt from news release...

Palladon president George Young said, "We are extremely pleased with how easily this material upgrades to direct shipping levels. This provides us the opportunity to design a final product to meet a buyer's needs. We believe these tests demonstrate the amenability of nearly 20,000,000 tonnes of pre-stripped material to rapid enhancement without incurring significant capital costs."

Currently, Palladon is finalizing the selection of a contracting firm that will provide contract mining in conjunction with iron ore processing. It is anticipated that the contractor will provide all ancillary equipment, including crushing, conveyor and magnetic separation equipment, thus dramatically reducing Palladon's capital cost requirements. Palladon plans to mobilize a contractor to the site by July 15, 2005 to commence preparations for mining and prepare a feed stockpile for upgrading and shipping.

New release is here.
http://biz.yahoo.com/ccn/050615/4017f57d7898d652ada85dfe26a452e1.html?.v=1