Phase II drilling results reveal a substantial increase in the total Inferred Mineral Resource estimate at Irvine Island, Western Australia, from 294 million tonnes to 452 million tonnes

Pluton Resources Ltd director Anthony James Schoer bought 6,316 plan shares for $3,000 on September 8, 2010. He directly holds 109,202 shares and indirectly holds 2,582,411 shares and 5,231,694 management options. Director Raymond John Schoer indirectly bought 9,562 shares for $4,542.

•  This follows a 450 percent upgrade to the 294 million tonne Inferred Mineral Resource estimate announced in June 2010
•  Irvine Island has potential to produce up to 150 million tonnes of 66% Fe (iron concentrate) with easy access to international markets
•  The Project is being developed with the support and involvement of the indigenous Mayala community

Pluton Resources

Price at 1:00 pm: 47.0c

Price/Earnings: -48.8 times

Turnover volume: 136,300.0

Turnover value: $65,508

Turnover period: 1 year 11 months

Value of $1,000 invested 1 year ago: $676

Phase II diamond drilling is continuing at the Hardstaff Peninsula while a second rig is exploring the island’s Isthmus Region which might result in an initial resource estimate for that area. The drilling program will test the potential of the high grade haematite iron mineralisation that may be suitable as Direct Shipping Ore (DSO) which outcrops at the Isthmus Region over an area of approximately six hundred metres by seventy five metres. Outcrop sampling previously conducted in late 2007 across the area returned up to 67.6% Fe from a suite of sixteen surface samples (ASX announcement, 19th November 2007).

About Pluton Resources

About Pluton: Pluton Resources Limited is listed on the Australian Stock Exchange (ASX Code “PLV”). Pluton has assembled a diversified portfolio of interests in tenements in Western Australia and Tasmania. Tenements in Western Australia are 100% owned by Pluton, which includes the Irvine Island iron ore project. Tenements located in Tasmania are prospective for high grade or bulk tonnage copper, gold and silver. Further details on Pluton can be found atwww.plutonresources.com.

Testing of Irvine Island bulk magnetite samples by the CSIRO has boosted the stocks of Pluton Resources (ASX: PLV) as it managed to produce high grade concentrates with low impurities through beneficiation.

The market liked the results from the potentially iron ore rich Irvine Island also, and Pluton shares rose by 6%.

PLuton Resources Information At – > ASX

The results were deemed highly encouraging from CSIRO trial beneficiation using composite bulk samples from Phase 1 drilling on Irvine Island.  Testing of magnetite-rich ores was from the Yampi Iron Ore Project on Irvine Island, Western Australia.  Pluton has a 50% interest and Cliffs Natural Resources (NYSE: CLF), a 50% interest.

ASX code: PLV
Listing Date: 2006-12-15 00:00:00
Website: http://www.plutonresources.com
Industry: Materials

Principal Activities:
Mineral exploration focusing on copper, gold, silver in Tasmania and iron ore in Western Australia.

Address:
470 St Kilda Road, Ground Floor, c/- Accosec Consultants Pty Ltd,
MELBOURNE
VIC    3004

ABOUT PLUTON RESOURCES  PDF FILE  DOC FILE

Phone: (03) 9867 8283
Fax: (03) 9867 8587

Irvine Island is Pluton’s premier iron ore project located within the Kimberley Iron Ore Hub in Western Australia. Drilling on Irvine Island has identified a Inferred Resource of 54Mt at 49% iron (including 25Mt at 55% iron), with Phase II drilling targeting up to 130Mt of iron ore.  Managing Director Mr Tony Schoer said, “Tests indicate we can concentrate up to 37Mt of product from this 54Mt resource. This compares well to Cockatoo Island which has produced about 40Mt of product since mining began in the early 1950’s”. These islands are well located, with Cockatoo Island being the first mine in Australia to export iron ore. Tony Schoer, “There is direct access to deep water and no need for rail”. Mineralisation on Irvine Island remains open outside of the areas covered by Phase II drilling.

Welcome to the new Pluton Resources website.

Pluton has a small, but experienced team focusing on taking our Irvine Island iron ore project to development. This project is located within the Kimberley iron ore hub and near to the Koolan and Cockatoo Island Mines. Ore from the hub is renowned for its quality and low impurities. Our drilling confirms commercial tonnage of iron ore on Irvine Island. The island adjoins deep water channels and is well placed close to Asian markets. We have no need for rail. We also enjoy a strong relationship with the native title owners, and together we plan to make the Irvine Island project a long-term operation that creates significant value for all stakeholders. You will find more information about Irvine Island and our other projects on this website! If you have any questions about our company then please feel free to contact me.

PLUTON RESOURCES LIMITED (PLV)

Thu, 24 Sep 2009
12:00PM
Irvine Island Iron Ore Resource Increase – Tony Shoer, Managing Director

PLUTON RESOURCES LIMITED (PLV)

Latest Drilling From Pluton

Wed, 11 Feb 2009
11:15AM
PLV – Irvine Island Drilling Results – My Tony Schoer, MD

PLUTON RESOURCES LIMITED announcements

How are company announcements published on www.asx.com.au?

Date
Price
sens.
Headline
Pages
PDF

14/10/2009
Pluton investor presentation
25
PDF

12/10/2009
Capital raising update
1
PDF

07/10/2009
Change of Director`s Interest Notice
2
PDF

30/09/2009

New Data Confirms Irvine Potential
3
PDF

29/09/2009

Capital Raising Update
2
PDF

24/09/2009
BRR Interview
1
PDF

23/09/2009

Irvine Resource Increases By 315%
3
PDF

18/09/2009
Proxy Form
3
PDF

18/09/2009
Notice of Annual General Meeting
10
PDF

09/09/2009
Annual Report to shareholders
54
PDF

> search for past company announcements

Can we recapitalize our own loss after BBI recapitalises itself

Credit Suisse and Macquarie Capital have agreed in principle to serve as the underwriters for Babcock and Brown infrastrucure , but the final documentation will not be completed until it is clear there is adequate market support for the recapitalisation plan. Babcock & Brown Infrastructure appears likely to be in a position to update the market on its long-awaited recapitalisation deal by tomorrow or Wednesday.

The key component left to finalise is a $600 million institutional placement to be matched by a placement to the new cornerstone investor, Canada’s Brookfield Asset Management.

The group of hedge funds backed by RBS, which had proposed an alternative plan, is believed to be not taking part.

Interestingly, on Friday evening, Moody’s placed Dalrymple Bay’s Baa2 credit rating on review for a possible downgrade that would see it lose its investment-grade status. However, the downgrade is not expected to happen if the recapitalisation plan succeeds

As part of the $1.5 billion deal to erase all of BBI’s corporate-level debt, Brookfield will take a 50 per cent stake in BBI’s most prized asset, the Dalrymple Bay coal port in Queensland and will buy the debt-laden PD Ports asset in Britain. BBI, now advised byGresham, had tried to sell all or part of those assets before it decided the Brookfield recapitalisation plan was the best option.

The BBI boss’s Payrise

Jeff Kendrew was appointed chief executive officer of Babcock & Brown Infrastructure (BBI) in June 2007.

The basic wage of Babcock & Brown Infrastructure’s boss has risen by more than $300,000, despite the company’s shares losing 90 per cent of their value, according to a market analyst.

Market analysts Wise Owl’s director Sven Restel told News Limited that Mr Kendrew’s basic wage has risen from $365,000 to $700,000, while BBI shares have tanked from $2 in 2007 to less than one cent.

“It’s unbelievable what they think they can get away with,” Mr Restel said.

At present, you can send applications for a mortgage online or over the Internet. Applying for a home mortgage loan had never been so easy. You only need to be ready to complete the online mortgage application. Following are some useful steps to apply for a mortgage online.

• Gather all the details. You would require your employment record and residential record. You would also require the income tax statements of the past year, your bank statements and a paycheck stub.
• Make a list of all your assets like boats, cars and IRAs (Individual Retirement Accounts). Collateral might help you determine if you are eligible for a loan.
• Understand what is stated on your credit report. If there are any queries regarding your credit report, you would understand what to speak when questioned.
• Work out your payments and expenditures in order to ensure that the mortgage lender can help you determine what type of payments you’re able to afford.
• Study the prevailing interest rates to have an overview of what rate you might get for your particular financial condition.
• Determine what kind of mortgage you would like to take out, for example a 15-year fixed, 30-year fixed, 30-year fixed interest only and so on. Make a decision whether you wish to buy a house or refinance.
• Search for a mortgage lender online. You must be cautious while furnishing your personal financial details. Go for the one you think you’re convenient with.
• Get a few online mortgage applications and have the printouts. In this manner, you can complete them and be at ease with the application procedure prior to putting it forward over the Internet.
• Call up the number of customer service. Make queries till you comprehensively realize everything. If you don’t get a comprehensive idea, you must not sign on the documents. Go through the fine print carefully. Jot down your queries prior to calling them up.
• Complete the online mortgage application and submit that. If you’re refused for a loan, then try to ascertain why it happened. Take the help of a consumer credit counselor to solve any problem prior to submitting your application once more.

The Australian share market’s rise to a fresh 10-month high on Monday was erased by a fall in Asian share markets, leaving traders wary of profit taking after sharp gains in the Australian market since March.

Banks sustained their gains on the back of a positive trading update from Australia and New Zealand Banking Group, while resources succumbed to falls in Chinese and Japanese equity markets.

The benchmark S&P/ASX 200 closed down 10.5 points or 0.2% at 4479.1 after hitting 4537.2 in early trading.

The index was up 43% from its March low and 21% above its July low, thanks to signs of global economic recovery and a better-than-expected Australian earnings period.

It rose 5.5% in August, notching up its sixth-consecutive monthly gain.

Australian economy shines

The Australian economy may be faring better than most, but the global economic crisis is hitting profits and wages hard

The slump in profits and wages is sizeable. Company profits fell by 7.8 per cent in the three months to June, Mark, to be almost 15 per cent lower than a year ago and wages fell by 1.1 per cent, they’ve fallen now for the past six months wages and it’s very unusual for wages to actually be going backwards.
It was a tale of different sectors however; you had a big fall in mining profits with the cuts to commodity prices, you had slight falls in profits in wholesale trade and construction as margins got squeezed, but in the retail sector, profits were up nearly nine per cent in the quarter and up more than 20 per cent on a year ago, so the retail sector, thanks to the government stimulus has had a boom.

27/07/2009 

Alan Kohler Australia’s top business and finance commentator is starting a weekly column for ninemsn Money.

Starting Wednesday August 5, Alan will file weekly for Money giving his expert take on the markets, the economy and business.

About Alan Kohler

One of Australia’s most experienced commentators and journalists. Former editor of the Australian Financial Review and The Age, former business and economics editor of the 7.30 Report, former Chanticleer columnist for the Australian Financial Review and a former columnist for The Age and theSydney Morning Herald. In addition to Eureka Report and its sister publication Business Spectator, Alan is also the finance presenter on ABC News and host of Inside Business on ABC TV each Sunday

Join Alan every week on Money and make his insight part of your knowledge portfolio.

On the Sydney Futures Exchange, the December share price index futures contract was 154 points lower at 4,211 on a volume of 16,525 contracts.

CommSec market analyst Elvina Simpson said stocks were being heavily sold off in every sector, giving up gains yesterday as investors took profits, bringing the recent rally to an end.

more…

The Reserve Bank of Australia (RBA) is tipped to announce an official cut of 50 basis points, or half a percentage point, on Tuesday.

“Our position is clear: the banks should pass on as much as they can of any increase at any time,” Assistant Treasurer Chris Bowen told Channel 10.

more…