| ||Thu Jun 21, 2007|
Palladon Announces Iron Supply Contract with Holcim Inc.
| ||Salt Lake City, Utah, June 21, 2007. Palladon Ventures Ltd. (TSX.V: PLL) (Frankfurt: PV-1) is pleased to announce that a five-year renewable contract has been executed with Holcim Inc. for the sale of iron ore materials crucial to the cement manufacturing process. |
Iron ore material will be sold FOB the Comstock/Mountain Lion Mine at Iron Mountain, Utah, and shipped by truck by Holcim to their 800,000-ton capacity Devil's Slide facility in Morgan, Utah.
Holcim Ltd. is one of the leading global manufacturers and suppliers of cement, aggregates, and mineral components. Holcim Ltd. operates in over 70 countries around the world, employing over 90,000 people. In the United States, Holcim Inc. is one of the largest suppliers of Portland and blended cements, operating 14 manufacturing plants and over 70 distribution facilities, supplying more than 14 million metric tonnes of cement and related materials annually.
"The regional cement industry represents an important ancillary business channel for Palladon. Cement industry sales in coming years will help offset future administrative costs, while negotiations continue between Shagang Steel and Luxor Capital for a strategic interest in the iron concentrates business." said Don Foot, President and CEO of Palladon Ventures Ltd.
On Behalf of the Board of Directors,
Donald G. Foot, Jr.
President and Chief Executive Officer
Palladon Ventures Ltd. is a junior resource company focused on building production facilities at the Comstock/Mountain Lion iron mine in Iron County, Utah. Palladon also holds gold exploration projects in Nevada, Utah and Argentina.
For Further Information Please Contact
VP, Corporate Development
Palladon Ventures Ltd.
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents hereof.
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