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

Chinese stocks helped drive the main index of Asia-Pacific stocks (excluding Japan) to an 11 month high, as two surveys showed accelerating Chinese factory output growth. Car and tyre makers were among the biggest winners, after the US Government announced increased funding for its "cash for clunkers" program to encourage households to trade up to more fuel efficient vehicles.

• In Tokyo, the Nikkei finished flat at 10,352.
• Hong Kong’s Hang Seng was up 1 per cent at 5:38pm (AEST).
• Mainland China’s Shanghai composite index gained 1.5 per cent to 3,463, its highest level since March last year.
• Singapore’s main share index was flat at 2,659.

Currency markets

The resurgence is due to increased optimism about a global economic recovery, and demand for currencies linked to commodities. At 5:53pm the Australian dollar was fetching:

• 83.60 US cents
• 79.41 Japanese yen
• 58.80 euro cents
• 49.96 British pence
• 1.2612 New Zealand dollars

Major movers in Australian market

The Australian share market has extended its rally, rising 0.5 per cent on the back of another strong showing by the banks.

At the close, the S&P/ASX 200 was 19.4 points higher, or by 0.5 per cent, at 4263.4 while the broader All Ordinaries rose 21 points, or 0.5 per cent, to 4270.5 points.

• ANZ and NAB led the charge of the big banks, with both up 2.5 per cent, and CBA and Westpac both up by just under 2 per cent. The banks have benefited from broker upgrades as the wave of economic optimism has led analysts to upgrade their profit forecasts. The ANZ also gained after sources told several media outlets that ANZ is close to a deal worth around $1 billion to purchase some of RBS’ Asian assets.
• Aquarius Platinum was amongst the best gaining miners, surging 8 per cent on a broker upgrade.
• Wheat exporter GrainCorp jumped 6.7 per cent to $8.00 after it raised its profit forecast for a second time. Competitor AWB also gained 4.2 per cent on the news.
• Sino Gold picked up 2.8 per cent on the discovery of gold mineralisation near its White Mountain mine in China.

Westpac slashes bank fees

Consumers have scored another victory in the battle against exorbitant bank charges when the Westpac group announcing plans to cut a range of penalty fees from as much as $40 to just $9.

The decision by Westpac and St George – the NSW-based bank it bought last year – follows a move last week by their big four rival, National Australia Bank, to axe the entire overdraft fee of $30 on accounts used by 700,000 personal customers from October 1

KUDOS to NAB FOR BEING THE FIRST BANK TO ACTUALLY CARE.. The rest will follow just to be competitive

Westpac said it would reduce "exception” fees across credit cards and personal and business accounts to $9 from current levels of up to $45. The move includes Westpac subsidiary St George Bank.

Major oil stocks were also mixed, with Oil Search losing one cent to $5.63, Santos up 18 cents at $14.70 and Woodside Petroleum dropping 80 cents, or 1.8 per cent, to $44.90.

Gold miners had mixed fortunes, with Lihir Gold easing 3 cents to $2.74, dual-listed Newmont Mining jumping 16 cents to $4.96 and Newcrest Mining steady at $30.00.

“We’re seeing financials, resources and listed property trusts weaker,” he said. “I think the only part of the market where I see a bit of green is in the telecommunications sector, which is really Telstra.

“I think it’s just a safe haven when the market has a question mark about other sectors at this point.”

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