Palladon Party!!! Heute HV, Zeitvorsprung!!! STRONGGGGG BUY!!!! - 500 Beiträge pro Seite

[BrsenBunny]

Heute ist HV und ihr seht ja was der Kurs macht!
0,6 werden gleich fallen, wartet ab was passiert wenn die Amis eröffnen! Schnell noch rein...., in den nächsten TAgen werden neue Höchstkurse erreicht!!!

Absoluter Kauf, und dabei sein wenn mit Rohstoffen abgeräumt wird!!!!

[BrsenBunny]

PALLADON VENTURES LTD. ANNOUNCES RESTRUCTURED FINANCING AND IRON PROJECT TRANSACTIONS

Palladon Ventures Ltd. has agreed with Luxor Capital Partners LP, subject to standard closing conditions and exchange approval, if required, to restructure the pending transactions covering the Mountain Lion/Comstock iron project. The pending convertible debenture financing will be withdrawn, and the parties will restructure the $103-million (U.S.) plus accrued interest, closing costs and other advances outstanding under the bridge loan, which was used to acquire the project, into a term loan at an interest rate of 9.25 per cent payable over five years As a part of the restructuring, Luxor will acquire 50 per cent of the project, 35 per cent from Palladon`s joint venture partner Western Utah Copper Company and 15 per cent from Palladon. Consideration for the 50-per-cent purchase will include $3.0-million (U.S.) in direct acquisition cost and $600,000 (U.S.) in forgiveness of legal and financing fees. In addition, Luxor will contribute $500,000 (U.S.) of equity to the project and advance $1.4-million (U.S.) for general corporate purposes under the new term loan (bringing the total amount outstanding under the term loan to $12.75-million (U.S.)). Upon consummation of the transaction, Palladon will use a portion of the $1.4-million (U.S.) committed to general corporate purposes to fully vest in the Western Utah copper project. Additional loan proceeds will be set aside to finance the company`s pro rata equity contribution to the project Luxor will also be granted two-year warrants to purchase Palladon common stock as follows: 1.5 million shares at 82 cents, one million shares at 92 cents and one million shares at $1.

Proceeds of the transaction will enable further advancement on the iron project. Palladon recently signed an agreement to sell one million metric tonnes of iron ore over a 12-month period to a Chinese purchaser, and intends to service the term loan through proceeds of iron ore sales.

Accordingly, the company will not be placing shareholder resolution item 7 and item 8 before shareholders at the annual general meeting Monday, Aug. 29.

Palladon president George Young said: " This represents a major step forward for the company and the iron project. We have been able to acquire a first-class portfolio of mineral projects, have solidified the ownership and capital structure of the company with limited dilution, and have secured a committed long-term financial partner in Luxor Capital."

© 2005 Canjex Publishing Ltd.

[BrsenBunny]

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