PLV - Pluton Resources

[doogie_goes_off]

Announcement Today:
IRON ORE: INFERRED RESOURCE TONNAGE INCREASES 315% TO 54Mt @
49% Fe (IRON), UPGRADABLE TO A TARGETED 37Mt @ 66% Fe CONCENTRATE.

 

[JTLP]

Anybody holding this?

From the lofty heights of 2.50 to the lows of 14 cents...it currently sits at 42.5. They own 100% of the Irvine Island Iron Ore project now and are currently drilling away to get from 54MT to >130MT. Possibly still on the road throughout Hong Kong & Singapore doing an investor roadshow/presentations.

Looks pretty interesting with Cockatoo Island and the area surrounding it once mined by BHP and said to have some of the best quality Iron Ore in the world! Plus PLV don't have any problems with rail access etc...the ore can be loaded directly onto ships via shipping loaders (saves quite a lot of money).

Half yearly says they still have a fair bit of cash on hand for working capital etc.

Tony Schoer (MD) has written previously on these boards and it would be fantastic to see him back here to give us an update on the company (in your own time Tony).

Any thoughts from others?

JTLP

 

[lazyfish]

Anybody holding this?

From the lofty heights of 2.50 to the lows of 14 cents...it currently sits at 42.5. They own 100% of the Irvine Island Iron Ore project now and are currently drilling away to get from 54MT to >130MT. Possibly still on the road throughout Hong Kong & Singapore doing an investor roadshow/presentations.

Looks pretty interesting with Cockatoo Island and the area surrounding it once mined by BHP and said to have some of the best quality Iron Ore in the world! Plus PLV don't have any problems with rail access etc...the ore can be loaded directly onto ships via shipping loaders (saves quite a lot of money).

Half yearly says they still have a fair bit of cash on hand for working capital etc.

Tony Schoer (MD) has written previously on these boards and it would be fantastic to see him back here to give us an update on the company (in your own time Tony).

Any thoughts from others?

JTLP

It is true that Cockatoo Island produce some of the best quality iron ore (pure hematite), Portman was mining below sea level for some of that stuff. However I don't think PLV has got any of that stuff at all. They do have some DSO but from memory the grade is no where near that. The bulk of their ore require heavy processing and if I understood correcly, is still subject to further study. Lots of overburden as well. I don't hold. DYOR

 

[pelm1]

They do have some DSO but from memory the grade is no where near that. The bulk of their ore require heavy processing and if I understood correcly, is still subject to further study. Lots of overburden as well. I don't hold. DYOR

Lazyfish

The dso area (Isthmus) has only been lightly touched with a drill (one shallow hole, abandonded due to a cyclone) so it may be a bit early to judge.

Yes the bulk of the ore on hardstaff requires bene but that produces a high grade product (read: worth a lot more)

The overburden can be used to make a very high grade product, no matter the head grade.

The tonnage of product from the overburden may surprise.


2010 will be a defining year for PLV

Cheers ..

 

[Corsair]

Today's volume is the highest in Pluton's history and just going from strength to strength.

The gap at 78.5c has been filled and the next resistance point is 90c.

The next announcement should relate to a small resource upgrade; however with the strength in price and volume, could it even be a native title agreement?

 

[snorer]

Came across PLV recently and took a small holding, some good drilling results of late and also a recent agreement with the traditional owners of Irvine Island. Selling price sitting back at $1.13 after recent announcements, a nice climb and hopefully more to come as drilling continues

 

[Barndat]

PLV went below it's current SPP price of 78 cents today. I cancelled my IB Election ticket for $15,000 worth yesterday, not much value there.... https://www.aussiestockforums.com/forums/images/icons/icon9.gif

 

[isplicer]

Any holders here? My commiserations if so. Down 45% to 43c a share.

 

[Mrs P]

Any holders here? My commiserations if so. Down 45% to 43c a share.

Any insight as to the huge drop.. another 18% today..

 

[qldfrog]

yes i hold some; hurts.. but was part of speculative portfolio...
I believe the fall is linked to a release postponing actual exploitation..so might miss the train...
wait and see

 

[springhill]

MC - $43m
SP - 17c
Shares - 246m
Options - Nil quoted
Cash - $661k

EXECUTION OF ASSET SALE AGREEMENT – COCKATOO ISLAND
Pluton Resources announce the execution of an Asset Sale Agreement with the current owners of Cockatoo Island, being Cockatoo Mining, Cliffs Asia Pacific Iron Ore Pty Ltd and HWE Cockatoo Pty Ltd, for the acquisition of 100% of the iron ore assets on Cockatoo Island, Western Australia. Cockatoo Island is part of a group of islands making up the Kimberley Iron Ore hub and includes Koolan Island and Irvine Island, the site of Pluton’s flagship iron ore project.
Completion of the acquisition is subject to regulatory approval and third party consents which are expected to be received before 31 August 2012.

IRVINE ISLAND
Mining Lease
The Company has been granted a mining lease over Irvine Island. The lease (M04/452) replaces exploration licence E04/1172. The issue of the mining lease is a significant step forward in the approvals process towards commercialisation of Irvine.
Environmental and Community
Work continued during the quarter on environmental surveys and data collection for inclusion in the Public Environmental Review (PER) document.
During the quarter Pluton commenced a Social Impact Study (SIS) on what effect mining Irvine Island will have on the Mayala People and other local indigenous groups. The study is an important input into the Ministerial approvals process.
Pluton has continued providing support for the Mayala People in various training courses, and has been successful in placing Mayala employees into local apprenticeships to gain experience for the commencement of development, construction and mining.
Exploration
The exploration program on Irvine has concluded. Skeleton staff remains on the island to assist in environmental surveys.

 

[pavilion103]

Interesting chart from a technical view point. Still a lot of volume around the June 2011 mark just overhead.

The gap up on 3/12 caught my attention. I'll monitor with interest.

 

[pavilion103]

A little bit of a triangle pattern and holding above the gap on low volume

 

[piggybank]

 

[Fudge79]

Please help me understand

I have PLV shares and recently received documentation asking if I wanted to buy more at a discounted price, which I did. Then upon reading more about it all, it turns out that these are non renouncable entitlements that I have purchased. What does all this mean? Can I sell them once the company starts trading again on the stock market? I am a complete novice clearly at all this and should have really asked these questions before buying I know. But can someone please help me understand?