Western Utah Copper Project
This page was last updated on May 29, 2011.
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Timeline
1967:
The Utah Mining Association's "Operational and Economic Review"
dated August 1967, noted that the American Mining Company had a open pit copper
mine near Milford.
November 24, 2003:
Palladon Ventures, Ltd., annnounced that they had aquired an option for 65 percent interest in the Western Utah Copper Project, which had recently been assembled from several previous owners and vendors. (Palladon News release)
August 26, 2005:
Palladon announced that Western Utah Copper, Palladon's joint venture partner in their Iron Mountain project, had sold its 35 percent interest in the iron Mountain Project to Luxor Capital Partners. Palladon reduced its 65 percent interest in the Iron Mountain project to 50 percent, and announced that they would use the $1.4 million preceeds to directly benefit its own interest
in the continued development of Western Utah Copper's copper mine west of Milford. (Palladon news release)
January 30, 2006:
Palladon announced that a recent test hole, drilled to a depth of 440 meters, had assayed at 6.7 percent copper and 41.40 ounces per tonne silver ore. (Palladon news release)
March 2006:
A report by way of email from Roger Beckett on March 30, 2006 mentioned that Western Utah Copper was about ready to start pouring foundations for its new crusher building.
January 9, 2007:
Palladon sold their interest in the Western Utah Copper Project to their former joint venture partner, Western Utah Copper Company, for a reported $3 million in cash, and $10 million payable as royalties from the smelting of known reserves and newly discovered ore bodies. Palladon announced that the proceeds of the sale was to be used to pay down principal on the outstanding loan to Luxor Capital Partners on the debt outstanding for the Iron Mountain Project. (Palladon news release)
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