Palladon Ventures Ltd.: Shipping Update Regarding CML Corporation
21 9월 2010 - 2:51AM
Marketwired
Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:
PLL) (FRANKFURT: PV-1). Palladon is pleased to provide an update on
efforts by CML Metals Corporation ("CML") to develop the Iron
Mountain project located near Cedar City, Utah.
CML has informed the Company that it is currently loading iron
ore onto a Supramax vessel at the Levin Terminal, Port of Richmond,
California. The cargo, approximately 50,000 tons of run-of-mine ore
from CML's mine in Utah, is scheduled for imminent departure.
According to Dale Gilbert, CEO of CML Metals, "the company is
nominating a second ship for departure to China in mid- October.
Thereafter, we anticipate maintaining a consistent schedule of
monthly shipments. Depending on future market conditions, CML's
existing capacity allows for significant expansion in early
2011."
Also, the Board of Directors of Palladon Venture has appointed
John W. Cutler as Chief Executive Officer. He now holds the titles
of President and CEO.
We look forward to providing additional updates as further
developments occur.
About Palladon Ventures Ltd.
Palladon Ventures Ltd. holds a significant minority interest in
CML, which is focused on advancing the Iron Mountain project, an
iron ore mine located west of Cedar City, Utah.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking
statements, which reflect the expectations of management.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, including
but not limited to the commencement of shipping under the offtake
agreement with CKI and future anticipated shipping volumes
thereunder, pricing for the run-of-mine iron and the potential
construction and financing of a concentrate facility. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward-looking statements
reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause our
actual results to differ materially from those expressed or implied
by the forward-looking statements, including: (1) a downturn in
general economic conditions in North America and internationally,
(2) the inherent uncertainties and speculative nature associated
with mineral exploration and production, (3) a decreased demand for
minerals, (4) any number of events or causes which may delay or
cease exploration and development of the Company's property
interests, such as environmental liabilities, weather, mechanical
failures, safety concerns and labor problems; (5) the risk that the
Company does not execute its business plan, (6) inability to retain
key employees, and (7) inability to finance operations and growth,
(8) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news
release and, except as required by law, the Company assumes no
obligation to update these forward-looking statements, or to update
the reasons why actual results differed from those projected in the
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Palladon Ventures Ltd. John W. Cutler 801.521.5252
604.681.4760 (FAX) info@palladonventures.com
www.palladonventures.com
Palladon Ventures Ltd. (TSXV:PLL)
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