As filed with the Commission on July 13, 2010.

File No. 33-            
 
United States Securities and Exchange Commission
 
Washington, D.C. 20549
 
Form S-1
 
Registration Statement under the Securities Act of 1933
 
PLANDEL RESOURCES, INC.
 
(Exact name of registrant as specified in its charter)
 
Nevada
1000
 
     
State or other jurisdiction of
incorporation or organization
Primary Standard Industrial
Classification Code Number
I.R.S. Employee Identification
Number

2432 M. Dela Cruz, Pasay City, Philippines, 1300
Telepho ne: (702) 973-1853
 
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
 
American Corporate Enterprises
123 W Nye Lane, Ste 129, Carson City, NV, 89706
Toll Free: (888) 274-1130   Telephone: (775) 884-9380   Fax: (775) 884-9383
 
(Name, address, including zip code, and telephone number, including area code, of agent for service)
 
D. Roger Glenn
Glenn & Glenn
124 Main Street, Ste 8
New Paltz NY 12561
Telephone:  (845) 256-8031   Fax (845) 255-1814
(Copies to the above address)
 
As soon as practicable after this Registrat ion Statement becomes effective
(Approximate date of commencement of proposed sale to the public)
 
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box  x
 
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement of the same offering.  ¨
 
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ¨
 
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ¨
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b2 of the Exchange Act.
 
Large accelerated filer ¨
Accelerated filer ¨
     
Non-accelerated filer ¨ (Do not check if a smaller reporting company)
Smaller reporting company x
 
Calculation of the Registration Fee
 
Title  of  Each  Class
of  Securities  to  be
Registered
 
Amount  to  be
Registered
   
Proposed
Maximum
Offering  Price  Per
Unit  (a)  (b)
   
Proposed
Maximum
Aggregate
Offering  Price
   
A mount  of
Registration  Fee
(c)
 
Common Stock
    15,000,000     $ 0.002     $ 30,000     $ 2.14  

(a)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(o) of the Securities Act of 1933.

(b)
There is no public market for the shares of common stock.  Our common stock is not traded on any national exchange and in accordance with Rule 457 the offering price was determined by the offering price for shares sold to subscribers by way of a private placement.

(c)
Fee calculated in accordance with Rule 457(o) of the Securities Act of 1933.

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8 (a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8 (a), may determine.

 
 

 

Prospectus

Subject to Completion, Dated July 13, 2010

The information in this prospectus is not complete and may be changed.  This prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.  The Selling Security Holders may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective.

PLANDEL RESOURCES, INC.

15,000,000 Shares of Common Stock
$0.002 Offering Price per Share
$30,000 Aggregate Offering Price

We have prepared this Prospectus to allow the Selling Security Holders to sell up to 15,000,000 shares of Plandel Resources, Inc. (“Plandel”, “we”, “us”, “our”, “the Company” or similar terms) that they have acquired from private placement for resale. We will not receive any of the proceeds from the sale of these shares.

The Selling Security Holders identified in this prospectus are registering 15,000,000 shares of common stock for resale at a fixed price of $0.002 per share. The Selling Security Holders have arbitrarily set the $0.002 price per share; the price does not reflect net worth, total asset value, or any other objective accounting measure.  It is our intention to find a market maker who will make an application to the FINRA to have our shares accepted for trading on the OTCBB once this registration statement becomes effective.  There is no assurance that our application to the FINRA will be approved. The Selling Security Holders are underwriters, within the meaning of Section 2(11) of the Securities Act. Any broker-dealers or agents that participate in the sale of the common stock or interests therein may also be deemed to be an "underwriter" within the meaning of Section 2(11) of the Securities Act. Any discounts, commissions, concessions or profit earned on any resale of the shares may be underwriting discounts and commissions under the Securities Act.

Our common stock is not presently traded on any market or securities exchange.

Investing in our common stock is extremely risky and may result in a complete loss.  Potential investors should carefully consider the “Risk Factors” on page 9.

Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete.  Any representation to the contrary is a criminal offense.

Proceeds to the Selling Security Holders do not include offering costs, including filing fees, printing costs, legal fees, accounting fees, and transfer agent fees estimated at $16,302.  We will pay these expenses.
 
Dealer Prospectus Delivery Obligation
 
Until _________ (90 th day after the later of (1) the effective date of the registration statement or (2) the first date on which the securities are offered publicly), all dealers that effect in transactions in these securities, whether or no participating in this offering, may be required to deliver a prospectus.  This is in addition to the dealers’ obligation to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.
 
The date of this Prospectus is _____, 2010.

 
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Table of Contents
 
Item
 
Page
Forward-Looking Statements
 
3
Item 3.     Prospectus Summary and Risk Factors
 
5
Item 4.     Use of Proceeds
 
12
Item 5.     Determination of the Offering Price
 
12
Item 6.     Dilution
 
12
Item 7.     Selling Security Holders
 
12
Item 8.     Plan of Distribution
 
13
Item 9.     Description of Securities to be Registered
 
14
Item 10.   Interests of Named Experts and Counsel
 
15
Item 11.   Information with Respect to the Registrant
 
15
·     Description of Business
 
15
·     Description of Property
 
17
·     Glossary of Mining Terms
 
21
·     Legal Proceedings
 
27
·     Market for Common Equity, Dividends and Related Stockholder Matters
 
27
·     Financial Statements
 
31
·     Management’s Discussion and Analysis of Financial Condition and Results of Operations
 
42
·     Changes In and Disagreements With Accountants on Accounting and Financial Disclosure
 
45
·     Directors and Executive Officers
 
46
·     Executive Compensation
 
48
·     Corporate Governance
 
48
·     Principal Shareholders and Security Ownership of Certain Beneficial Owners and Management
 
49
·     Transactions with Related Persons, Promoters and Certain Control Persons
 
50
Item 11A. Material Changes
 
50
Item 12.    Incorporation of Certain Information by Reference
 
50
Item 12A. Disclosure of Commission Position on Indemnification for Securities Act Liabilities
 
51
 
Forward- Looking Statements
 
We qualify all the forward- looking statements contained in this prospectus by the following cautionary statements.
 
This prospectus attached hereto contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Such forward looking statements concern the Company's planned exploration and development of its property, anticipated results of future operations, and other business plans and matters that may occur in the future.

 
3

 
 
Any statements that involve predictions, expectations, beliefs, plans, projections, objectives, assumptions or future performance predictions (often using phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain events "may", "could", "would", “should”, "might" or "will" be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual results to differ from those expressed or implied by the forward-looking statements, including, without limitation: regulatory and permitting issues; timing and outcome of exploration proposals; future financial performances of Plandel and its projects; the estimation of mineral resources and the realization of mineral reserves; exploration, development, and production activities and estimated future production; costs of production, capital, operating and exploration expenditure estimates; additional capital requirements and acquisition; government regulation, environmental risks, reclamation and rehabilitation expenses; title disputes or claims; insurance coverage; and future prices of gold and other minerals.
 
This is not an exhaustive list of the factors that may affect our forward-looking statements. Some of the important risks and uncertainties that could affect forward-looking statements are described further under “Risk Factors”, "Description of Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of this prospectus. Should one or more of these risks come true, or should underlying assumptions prove false, actual results may vary from those expected. Undue reliance should not be placed on any such forward-looking statements, which are appropriate only for the date made. We do not plan to subsequently revise these forward-looking statements to reflect current circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

 
4

 
 
Item 3. Prospectus Summary and Risk Factor s
 
Prospectus Summary
 
Plandel Resources, Inc.
 
This summary does not contain all the information that should be considered before making an investment in Plandel Resources, Inc.’s common stock.  The entire prospectus should be read including the “Risk Factors” on page 9 and financial statements before deciding to invest in our common stock.
 
The Offering
 
Common Stock Outstanding Prior to the Offering
 
30,000,000 shares
     
Common Stock to be Outstanding Following the Offering
 
30,000,000 shares
     
Common Stock Offered
 
15,000,000 shares
     
Offering Price
 
$0.002 per share
     
Aggregate Offering Price
 
$30,000
     
Selling Security Holders
 
Two (2)
     
Use of Proceeds
 
We will not receive any of the proceeds of the shares offered by the Selling Security Holders.  Plandel will pay all the expenses of this offering estimated at $16,302.
     
Underwriters
 
The Selling Security Holders are underwriters, within the meaning of Section 2(11) of the Securities Act.
     
Plan of Distribution
 
The Selling Security Holders named in the Prospectus are making this offering and may sell at market or privately negotiated prices.
     
Lack of Liquidity [No Public Market]
 
Our common stock is not currently quoted or traded on any securities exchange or automated quotation system.  No application for such has yet been made.  Thus, no assurance can be given that there will ever be an established public trading market for our common stock.

 
5

 
 
Risk Factors
 
Carefully consider all the information, especially the “Risk Factors”, contained within the Prospectus before deciding whether to invest in common shares of our company.
     
Legal Proceedings
 
None pending or anticipated.
     
Dividend Policy
 
We intend to retain any future earnings to fund development and growth of our business and do not anticipate paying cash dividends.

Our Business
 
Plandel Resources, Inc.  (“Plandel”, “we”, “us”, “our”, “the Company” or similar terms) was formed under the laws of the State of Nevada on March 19, 2010.
 
Plandel Resources Inc. offices are located at 2432 M. Dela Cruz, Pasay City, Philippines and can be reached at (702) 973-1853.
 
We are a start-up, pre-exploration mining company formed to explore mineral properties for gold.  We have purchased a 100% interest in a 9 unit claim block (“Plandel Gold Claim”) containing 98.5 hectares that is recorded with the Mineral Resources Department of the Ministry of Energy and Mineral Resources of the Government of the Republic of the Philippines.  The claim was purchased from Rojas Ventures Ltd. (an unrelated company and duly incorporated body have its offices in Manila, Philippines) on July 2, 2009 for the sum of $5,000. However, we do not currently have the necessary funds to undergo exploration of this property and will need to raise capital in order to do so.  If we cannot, we may have to go out of business. The proposed two phase exploration plan will cost approximately $39,319.  There has been no production to date. There are no full-time employees and management is able to spend only a small amount of time with respect to these affairs. Plandel has no other assets.
 
In July 2009, we hired a mining consultant, Roberto Noga, to study and propose exploration plans for the Plandel Gold Claim.  The proposal can be found further into the prospectus under, “Description of Property” on page 18.
 
From our inception March 19, 2010 through May 31, 2010, we raised $30,000 in capital in private placements by issuing 30,000,000 shares of common stock at the price of $0.001 per share.
 
We have no subsidiaries.
 
Metric Conversion Table
 
For ease of reference, the following conversion factors are provided:
 
Metric Unit
 
U.S. Measure
 
U.S. Measure
 
Metric Unit
1 hectare
 
2.471 acres
 
1 acre
 
0.4047 hectares
1 metre
 
3.2881 feet
 
1 foot
 
0.3048 metres
1 kilometre
 
0.621 miles
 
1 mile
 
1.609 kilometres
1 gram
 
0.032 troy oz.
 
1 troy ounce
 
31.1 grams
 
 
6

 
 
Financial Information and Accounting Principles
 
All “$” or “dollars” refer to the U.S. dollar unless otherwise specified.  All references to PHP refer to the Philippine Peso. All financial statements refer to GAAP in the United States and are reported in U.S. dollars.
 
Exchange Rate Information
 
One PHP is approximately $0.02.  Inversely, $1 is 46.53 PHP as of May 14, 2010.  A five-year low conversion strength for the US dollar was around January 2008 where $1 was roughly 40 PHP and 5 year high around December 2005 where $1 was roughly 56 PHP. For the purposes of this prospectus $1 equates to 44 PHP.
 
Summary of Financial Data
 
The financial information below should be read in conjunction with the financial statements found later in the prospectus.
 
   
Since   Inception   to   May   31,   2010
 
Statement of Expenses Information:
     
Revenue
  $ -  
Net Losses
    22,714  
Total Operating Expenses
    22,714  
Exploration Costs
    5,000  
General and Administrative
    17,714  
         
   
As  at  May  31,  2010
 
Balance Sheet Information:
       
Cash
  $ 23,986  
Total Assets
    23,986  
Total Liabilities
    13,800  
Stockholder Equity
    10,186  
 
Risk Factors
 
There is a high degree of risk associated with buying our common stock.  Prospective investors should carefully read this prospectus and consider the following risk factors when deciding whether to purchase our shares. These are speculative stocks and should be purchased by only those who can afford to lose their entire investment.
 
The risk factors outlined below are all the known, substantial, material and potential risks that could adversely affect our business, financial condition, operating results and common share value.  There may, however, be additional risks unforeseen and immaterial now that could result in the decline of stock price and inability to recuperate most or all of the investment.
 
We cannot assure that we will successfully address these or any unknown risks and a failure to do so can have a negative impact on your investment.
 
Risks Associated with our Company and our Industry
 
We are governed by only two people, Mario Gregorio and Rizalina Raneses, which may lead to faulty corporate governance.

 
7

 
 
We have only one director and two (2) executive officers who make all the decisions regarding corporate governance.  This includes their (executive) compensation, accounting overview, related party transactions and so on.  They will also have full control over matters that require Board of Directors approval. This may introduce conflicts of interest and prevent the segregation of executive duties from those that require Board of Directors approval.  This may lead to ineffective disclosure and accounting controls.  Noncompliance with laws and regulations may result in fines and penalties.  They would have the ability to take any action as they themselves review them and approve them.  They would exercise control over all matters requiring shareholder approval including significant corporate transactions.  We have not implemented various corporate governance measures nor have we adopted any independent committees as we presently do not have any independent directors.
 
Our sole director and executive officers will own a substantial amount of common stock and will have substantial influence over our operations denying an investor an effective voice.
 
Before this offering, our director, Mario Gregorio, has control of our company with 67% of the outstanding common shares (20,000,000).  Rizalina Raneses has 33% or 10,000,000 of the 30,000,000 outstanding shares.  Should the entire offering be sold, they will still own 50% of the outstanding shares (33% and 17% respectively).  If less than all the shares are sold, they will have more than 50% and complete control.  This means that investors cannot buy an effective voice in the company.
 
Our director and officers are not residents of the United States making the enforcement of liabilities against them difficult.
 
The director and executive officers reside outside the United States in the Republic of the Philippines.  If a shareholder had a desire to sue them for damages, the shareholder would have to serve a summons and complaint.  Even if personal service is accomplished and a judgement is entered against that person, the shareholder would then have to locate the assets of that person, and register the judgement in the foreign jurisdiction where the assets are located.
 
Our executive officers have other business interests which may limit the amount of time they can devote to our Company and create conflicts of interest.
 
Our executive officers have other business interests, meaning they may not have enough time to devote to our business operations.  This could cause business failure.  They plan to devote only 10 hours per month at this time to company affairs which may lead to sporadic exploration activities and periodic interruptions of business operations.  Unforeseen events may cause this amount of time to become even less. Our officers may also have conflicts of interest as a result of their relationships with other companies.
 
We must attract and maintain key personnel or our business will fail.
 
Success depends on the acquisition of key personnel.  We will have to compete with other companies both within and outside the mining industry to recruit and retain competent employees.  If we cannot maintain qualified employees to meet the needs of our anticipated growth, this could have a material adverse effect on our business and financial condition.
 
We are recently formed, lack an operating history and have yet to make any revenues.  If we cannot generate any profits, you may lose your entire investment.
 
We are a recently formed company and have yet to generate any revenues. No profits have been made to date and if we fail to make any then we may fail as a business and an investment in our common stock will be worth nothing.  We have no operating history and thus no way for you to measure progress or potential future success.  Success has yet to be proved. Currently, there are no operations in place to produce revenue.  We are pre-exploration and have yet to find or produce sellable product. Financial losses should be expected to continue in the near future and at least until such time that we enter the production stage.  As a new business we face all the risks of a ‘start-up’ venture including unforeseen costs, expenses, problems, and management limitations and difficulties.  Since inception, we have a loss of approximately $22,714. There is no guarantee, unfortunately, that we may ever be able to turn a profit or locate additional opportunities, hire additional management and other personnel.

 
8

 

We need to acquire additional financing or our company will fail.
 
We must obtain additional capital or our business will fail. In order to explore the claim and eventually establish operations, we must secure more funds. Currently, we have very limited resources and have already accumulated a net loss. Without operations, we will make no money which may result in complete loss of your investment.  Financing is also needed to bring product to market.  Financing may be subject to numerous factors including investor sentiment, acceptance of mining claims and so on.  We currently have no arrangements for additional financing.  We may also have to borrow large sums of money that require substantial capital and interest payments. We must perform mineral explorations on the Plandel Gold Claim to determine if any ore reserves are present and to keep the property in good standing.
 
The probability of a mineral claim having profitable reserves is very rare and our claim, even with large investments, may never generate a profit.
 
We are dependent upon our mining property for success.  All anticipated future revenues would come directly from the Plandel Gold Claim.  Should we fail to extract and sell gold from this property, our business will fail.  Mineral deposit estimates are imprecise and subject to error, and resource calculations when made may prove unreliable.  Assumptions made regarding the supporting data may prove inaccurate and unforeseen events may lead to further inaccuracies.  Sample variability, mining and processing adjustments, environmental changes, metal price fluctuations, and law and regulation changes are all factors that could lead to deviances from the original estimations. No assurances can be given that any mineral deposit estimate will ever be reclassified as a reserve.  We have no known ore reserves.  Despite future investment in exploration activities, there is no guarantee we will locate a commercially viable ore reserve.  Most exploration projects do no result in discovery of commercially mineable deposits. With little capital available, we will have to limit our exploration which decreases the chances of finding a commercially viable ore body. Even if gold is identified, the Plandel Gold Claim may not be put into production due to high extraction costs, low gold prices, or inadequate amount and reduced recovery rates.  If the exploration activities do not suggest a commercially successful prospect then we may altogether abandon plans to develop the property.
 
The exploration and prospecting of minerals is speculative and extremely competitive which may make success difficult.
 
 We face strong competition from other mining companies for the acquisition of new properties.  New properties increase the probability of discovering a profitable reserve.  Most companies have greater financial and managerial resources than we do and can acquire and explore attractive new mining properties.  We will face similar difficulties raising new capital to expand operations against the larger, better capitalized competitors. Limited supply and unforeseen demand from larger, more competitive companies may make secure all necessary equipment and materials difficult and may result in periodic interruptions or even business failure. Success depends on a combination of many factors including but not limited to: the quality of management, technical (geological) expertise, quality of land available for exploration and the capital available for exploration.
 
International operations in the Philippines are subject to inherent risks.
 
Political instability, uncertainty of the economic climate, currency fluctuations, exchange controls and taxation laws may be significant. Access to all of the equipment, supplies and materials necessary to begin exploration may not be available and delay such activity.  We have not yet attempted to locate or negotiate with any suppliers of products, equipment or materials but plan to do so when exploration begins.  Exchange rate changes between the  PHP and the U.S. Dollar may also adversely affect success.

 
9

 

Our future operations may be adversely affected by future governmental and environmental regulations and permitting.
 
Environmental regulations may negatively affect the progression of operations and these regulations may become stricter in the future. In the Philippines, all mining is regulated by Federal and Provincial level government agencies. Obtaining licenses and permits from these agencies as well as an environmental impact study for each mining property must be completed before starting mining activities. These are expensive and affect the timing of operations.  Pollution can be anticipated with mining activities.  If we are unable to comply with current or future regulations, this may expose us to fines, penalties and litigation that could cause our business to fail.
 
We are vulnerable to the change of the world gold supply, demand and prices.
 
Gold prices change on a world market beyond our control.  A drop in price would adversely affect the ability to generate a profit.  All our revenues would be derived from the sale of gold and possibly other precious metals.  Changes in the price of gold thus may affect profitability and impede us from being able to afford to continue operations.  Gold prices historically have fluctuated widely; price tends to be linked to a number of factors beyond our company’s control such as: various macroeconomic factors (terrorism, political and regional events that may include such, confidence in the global monetary system, rate of inflation expectations, interest rates, US dollar and certain other currency strength); speculative or hedging activities; forward sales by producers, speculators and other holders; central bank lending; sales and purchases of gold; industrial and jewellery demand; and the current supply and demand.  These things are impossible for us to predict.  Per ounce, gold has been $384 (1995), $279 (2000), $420 (2005), $1,120 (2010) London PM Fix Price for instance. This volatility may favour operations now but should the price drop unexpectedly some or all exploration activities may become economically unfeasible in the future.
 
We are subject to inherent mining hazards and risks that may result in future financial obligations.
 
Risks and hazards associated with the mining industry may adversely affect our operations such as but not limited to: political and country risks, industrial accidents, labor disputes, inability to retain necessary personnel or equipment, environmental hazards, unexpected geologic formations, cave-ins, landslides, flooding and monsoons, fires, explosions, power outages, processing problems.  Personal injury and death could result as well as property damage, delays in mining, environmental damage, legal liability and monetary loss.  We may not be able to obtain insurance to cover these risks at economically reasonable premiums. We do not carry any sort of insurance and may have difficulties obtaining such once operations start as insurance is generally sparse and cost prohibitive.
 
Risks related to this offering and our stock
 
We may not be able to raise additional capital through the offering of more shares but doing so will dilute those shares issued and outstanding.
 
Raising additional capital through future offerings of common stock may be necessary for our company to continue going, but there is no guarantee that this will be possible.  Doing so will, however, dilute the total share number issued and outstanding. Financing may be achieved by issuing more shares which will increase the number of common shares outstanding.  This may decrease the percentage interest held by each of our shareholders. Obtaining financing through the sale of our common stock will dilute other shareholders’ interests.  As the total number of outstanding common shares will increase, the equity attached to any individual share will decrease causing a dilution of shareholder ownership over the company.  With little other access to funds currently, we may have to rely on this method substantially to raise additional capital.

 
10

 

There is no market for our common stock meaning that you may not be able to resell your shares.
 
Our common stock currently has no market limiting shareholders’ ability to resell them or use them as collateral. Thus, the shareholder must sell their shares privately which may prove very difficult.  The shares are not currently listed on any exchange or quotation system.  Private sales are more difficult and often give lower than anticipated prices.
 
Should a public market develop for our stock, future sales of shares may negatively affect their market price.
 
Even if a market develops, the shares may be sparsely traded and have wide share price fluctuations.  If we succeed in receiving a quotation, the liquidity of the stock may be low despite there being a market making it difficult to get a return on the investment.  The price also depends on potential investor’s feelings regarding the results of our operations, the competition of other companies’ shares, mineral prices, our ability to generate future revenues, and market perception about future mineral exploration.
 
Because our stock is a “penny stock”, trading of it may be restricted and limit a shareholder’s ability to buy and sell shares.
 
As our stock is a penny stock, there are restrictions imposed by the United States Securities and Exchange Commission’s penny stock regulations and the FINRA’s sales practice requirements.  This might limit a shareholder’s ability to buy and sell their shares as broker-dealers may be less likely to engage in transactions of our common shares.  A penny stock generally includes any non-NASDAQ equity security that has a market price of less than $5.00 per share.  Our common stock is expected to trade well below that mark.  Rules 15g-1 through 15g-9 under the Exchange Act impose sale practice and disclosure requirements on certain brokers-dealers who engage in certain transactions involving a “penny stock”.
 
We have not paid nor anticipate paying cash dividends on our common stock.
 
Cash dividends are not currently paid on our common stock shares nor are they expected to be paid in the near future.  We intend to retain our cash for the continued development of our business.  Thus, you will not be able to derive any dividend income and your return on investment will solely be based on your ability to sell your shares in a secondary market.

 
11

 

Item 4.   Use of Proceeds
 
This prospectus relates to our common stock shares that will be offered on a continuous basis by the Selling Security Holders beginning immediately after the registration statement effective date, which is included in this prospectus, and may continue for a period in excess of thirty (30) days from this effective date.  We are completing this registration statement to allow the Selling Security Holders to sell their shares.  We, the issuer, will not acquire any proceeds from the common stock sale by the Selling Security Holders in this offering.  Plandel will pay all expenses of this offering estimated at $16,302 (see PART II. Item 13)
 
Item 5.   Determination of Offering Price
 
The offering price can be considered arbitrary as it bears no relationship to Plandel’s earnings, assets, book value or any other recognized criteria of value.  It should not be associated with the actual value of Plandel as it was not based on this.  It should also not be considered an indicator of the future market price of the shares.  Currently there is no established public market for the common stock being registered.  The factors used to generate the offering price were the general condition of the stock markets, Plandel’s financial condition, and Plandel’s lack of operating history.
 
The Selling Security Holders may offer and sell their common stock at such times and in such manner that they want.  The shares may be sold in negotiated transactions which may involve brokers or dealers. The Selling Security Holders are expected to sell their shares at $0.002 until they are quoted on the OTCBB at which time they can sell them at market price.  We will pay all expenses of the Selling Security Holders, except for any broker-dealer or underwriter commissions which will be paid by the security holder.  At this time, the Selling Security Holders have not entered into any agreements, arrangements or understandings with any broker-dealers or underwriters.
 
Item 6.   Dilution
 
The common stock to be sold by the Selling Security Holders is common stock that is currently issued and outstanding so there will be no dilution to the existing shares outstanding.
 
Item 7.   Selling Security Holders
 
This prospectus covers the offering of up to 15,000,000 shares of our common stock.  The shares issued to the Selling Security Holders are restricted under applicable federal and state security laws and are being registered to give them the opportunity to sell their shares.
 
The Selling Security Holders are residents and citizens of the Republic of the Philippines.  They’re offering for sale a total of 15,000,000 shares of common stock of Plandel.  This comprises 50 percent of the total outstanding shares.  To the best of our knowledge, the Selling Security Holders have sole voting and investment power and rights over all their shares and are the beneficial owners.  They have given all information regarding share ownership.  The shares being offered are being registered to permit public secondary trading and the Selling Security Holders may offer all or part of his shares from time to time but is under no obligation to immediately sell them pursuant to this prospectus.  Thus, Plandel cannot guarantee that any shares will be sold after this registration statement is effective.
 
 
12

 
 
The Selling Security Holders are the only shareholders to the company’s knowledge and their offering is outlined below:
 
Owner
 
Shares   prior   to
offering
   
Shares   to   be
offered
   
Shares   after
offering
   
Ownership
percentage
prior   to   offering
   
Ownership
after   offering
 
Mario S. Gregorio
    20,000,000       10,000,000       10,000,000       67 %     33 %
Rizalina Raneses
    10,000,000       5,000,000       5,000,000       33 %     17 %
 
There have been no transactions between shareholders.
 
Item 8.   Plan of Distribution
 
15,000,000 common stock shares are being registered on behalf of the Selling Security Holders.  They may, from time to time, sell all or a portion of these shares in privately negotiated transactions or otherwise.  The sales will be at fixed prices of $0.002 per share until amendments are made to this prospectus or the shares are quoted on the Over-the-Counter Bulletin Board (OTCBB) at which point they may be sold at the market price. The shares may be sold in a lawful manner using any one or more of the following methods: private transaction; ordinary brokerage transactions; transactions in which the broker-dealer solicits purchasers; broker-dealer as principal purchasers and resale by the broker-dealer for its own account; block trades in which the broker-dealer will attempt to sell the shares as an agent, but may position and resell a portion of the block as principal to facilitate the transaction; broker-dealer agreements with the selling shareholder to sell a specified number of such shares at a stipulated price per share; exchange distribution following the rules of the applicable exchange; short sales that are not violations of the laws and regulations of any state of the United States; through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise; or through a combination of any such methods or other lawful means.
 
The Selling Security Holders are underwriters, within the meaning of Section 2(11) of the Securities Act. Any broker-dealers or agents that participate in the sale of the common stock or interests therein may also be deemed to be an "underwriter" within the meaning of Section 2(11) of the Securities Act. Any discounts, commissions, concessions or profit earned on any resale of the shares may be underwriting discounts and commissions under the Securities Act. The Selling Security Holders, who are "underwriters" within the meaning of Section 2(11) of the Securities Act, are subject to the prospectus delivery requirements of the Securities Act.
 
The Brokers or dealers may receive commissions or discounts from the Selling Security Holders, if any of the broker-dealer acts as an agent for the purchaser of said shares, from the purchaser in the amount to be negotiated which are not expected to exceed those customary in the types of transactions involved.   Broker-dealers may agree with the Selling Security Holders to sell a specified number of the shares of common stock at a stipulated price per share.   In connection with such re-sales, the broker-dealer may pay to or receive from the purchasers of the shares, commissions as described above.   Any broker or dealer participating in any distribution of the shares may be required to deliver a copy of this prospectus, including any prospectus supplement, to any individual who purchases any shares from or through such broker-dealer.

 
13

 

We have advised the Selling Security Holders that while they are engaged in a distribution of the shares included in this prospectus they are required to comply with Regulation M promulgated under the Securities Exchange Act of 1934, as amended. With certain exceptions, Regulation M precludes the Selling Security Holders, any affiliated purchasers, and any broker-dealer or other person who participates in such distribution from bidding for or purchasing, or attempting to induce any person to bid for or purchase any security which is the subject of the distribution until the entire distribution is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with the distribution of that security. All of the foregoing may affect the marketability of the shares offered in this prospectus.
 
The Selling Security Holders may also elect to sell their common shares in accordance with Rule 144 under the Securities Act of 1933, rather than pursuant to this prospectus. After the sale of the shares offered by this prospectus the Selling Security Holders will have 15,000,000 common shares. The sale of these shares could have an adverse impact on the price of our shares or on any trading market that may develop.
 
We have not registered or qualified offers and sales of shares of common stock under the laws of any country, other than the United States.  To comply with certain states’ securities laws, if applicable, the Selling Security Holders will offer and sell their shares of common stock in such jurisdictions only through registered or licensed brokers or dealers.   In addition, in certain states the Selling Security Holders may not offer or sell shares of common stock unless we have registered or qualified such shares for sale in such states or we have complied with an available exemption from registration or qualification.
 
All expenses of this registration statement, estimated to be $16,302 (see “Use of Proceeds” page 12), including but not limited to legal, accounting, printing and mailing fees will, be paid by Plandel.   However, any selling costs or brokerage commissions incurred by each Selling Security Holder relating to the sale of their shares will be paid by them.
 
Item 9.   Description of Securities to be Registered
 
Our authorized capital stock is 300,000,000 shares of common stock, par value 0.001 per share, of which 30,000,000 shares of common stock are issued and outstanding.  No other class or series of shares are currently authorized under Plandel’s Articles of Incorporation.
 
Common Shares
 
Holders of common stock are entitled to one vote per share on all matters subject to stockholder vote.  Holders of our shares of common stock do not have cumulative voting rights, which means that the shareholders of more than 50% of such outstanding shares, voting for the election of Directors, can elect all of the Directors to be elected, if they so choose.   In such event, the holders of the remaining shares will not be able to elect any of our Directors.
 
The common stock has no pre-emptive or other subscription rights. All of the presently outstanding shares of common stock are fully paid and non assessable. If the corporation is liquidated or dissolved, holders of shares of common stock will be entitled to share prices relating to asset values remaining after subtraction of liabilities and subject to the rights, if any, of the holders of preferred stock.
 
As of the date of this prospectus we have not paid any cash dividends to stockholders.  The declaration of any future cash dividends will be at the discretion of the Board of Directors and will depend on our earnings, if any, capital requirements and financial position, general economic conditions and other pertinent conditions.  It is our present intention not to pay any cash dividends in the near future. The holders of the common stock are entitled to receive dividends when and as declared by the Board of Directors, out of funds legally available therefore. The corporation has not paid cash dividends with respect to its common stock in the past. No share of common stock of the corporation which is fully paid is liable to calls or assessment by the corporation.

 
14

 
 
Item 10.      Interest of Named Experts and Counsel
 
No experts named in this prospectus have an interest in the company and thus there exist no conflicts of interest in this respect
 
Experts
 
Our financial statements have been audited by Madsen & Associates, Inc., Unit #3 – 684 East Vine Street, Murray, Utah, 84107 as set forth in their report included elsewhere in this prospectus (see page 32).
 
The geological report on the Plandel Gold Claim dated July 10, 2009 titled "Summary of Exploration on the Plandel Property, Baguiao, Philippines”, was authored by Roberto Noga, P. Geol., Manila, Republic of the Philippines and has been incorporated into the “Description of Property” on page 17.  The report is exhibit 99 to the registration statement of which this prospectus is a part.
 
Legal Matters
 
The law firm of Glenn & Glenn has rendered a legal opinion regarding the validity of the shares of common stock offered by the Selling Security Holders.  It is exhibit 5 to the registration statement of which this prospectus is a part. i
 
. Item 11.      Information with Respect to the Registrant
 
Description of business
 
Introduction
 
We are a start-up pre-exploration mining company with one mineral claim (the Plandel Gold claim) in the Republic of the Philippines. Our goal is to generate revenues through the sale of gold found and extracted from this claim. We have a specific business plan to complete exploration work on this claim and have no reason to alter this plan within the next twelve months.  The company has no subsidiaries, affiliates or joint venture partners.  We do not intend to enter into a merger or acquisition, have not been involved in any large purchases other than that of the Plandel Gold Claim and have not been involved in any reclassification, bankruptcy or receivership since inception.
 
Background
 
Plandel Resources, Inc. was established as a private company by Mario S. Gregario and Rizalina Raneses to acquire and develop gold properties while world gold prices are strong.
 
We raised $30,000 in initial capital in order to identify and purchase a promising mineral property claim. Pursuant to Regulation S of the Securities Act of 1933, Plandel sold 30,000,000 shares of its common stock in a private placement for the $30,000.
 
In July 2009, we acquired, prior to its actual incorporation, the Plandel Gold Claim from Rojas Ventures Ltd., an unrelated company, for the sum of $5000.  This is our only mineral claim.
 
In July 2009, we engaged a mining consultant, Roberto Noga, to develop a preliminary scoping study for the development of the Plandel Claim.  Previous exploration work was reviewed and recommendations for an exploration program made.  His report is the basis for the “Description of Property” on page 15.

 
15

 

Plandel Resources, Inc. was incorporated under the laws of the State of Nevada March 19, 2010.
 
Assuming we can raise the necessary capital, we intend to carry out the exploration program proposed on the Plandel Claim.  There is the distinct possibility that we will not only fail to raise the capital but fail to find a commercially viable ore body.  There is no guarantee that gold of significant value will be found.  We currently do not have any ore body, products or revenues.
 
Executive Offices
 
We lease our principal executive offices at 2432 M. Dela Cruz, Pasay City, Philippines.
 
Our telephone number is (702) 973-1853.
 
Mining Property, Facilities and Operations
 
The company has a single mineral claim, the Plandel Gold Claim located in the Republic of the Philippines.  A mining geologist has proposed a two phase exploration program of this property but no exploration has yet been carried out.  There are no operations underway, no facilities other than the principal executive offices and no employees other than the two executive officers.  Further information can be found in the following sections.
 
Exploration and Production
 
We are a pre-exploration company with no production (of gold and gold related products).  No exploration has been conducted to date either. We hope to explore our sole mineral claim in the near future.
 
Products and Gold
 
Plandel does not have any products including gold yet.
 
Gold Prices
 
Gold prices have risen steadily over the last few years.  In 2000, gold traded between $260 and $315 USD per ounce based on London PM Fix Price.  In 2005, this was between $440 and $540.  In 2010, gold trades at roughly $1000 per ounce.
 
Other Minerals
 
We are planning to search for gold but will consider extracting other minerals if found in significant value on the Plandel Gold Claim.
 
Employees
 
At present, we have no employees.  We anticipate that we will be conducting most of our business through agreements and third parties.  No such agreements have yet been made and will not be made until we near exploration. Our two executive officers only devote a small portion of their time to the affairs of the company.  At present, we have no employment agreements with them.  We also do not have any health plans, benefits, profit sharing, annuity, insurance, or pension plans.
 
Competitive Factors
 
There are numerous larger and better capitalized mining companies in competition with us for properties, personnel, equipment and market share.  We are one of the smallest companies and right at the beginning of our journey.  We lack the resources that our competitors have.  Our success depends on raising the capital, obtaining the personnel and equipment and finding a commercially viable ore body on our mineral claim.  None has yet been found, but we are the only entity entitled to explore this claim.

 
16

 

Foreign Currency
 
The Company will be conducting exploration activities in the Republic of the Philippines.  If the U.S. dollar loses strength to the PHP this may adversely affected the Company’s operations.
 
Purchases of Equity Securities by the Small Business Issuer and Affiliates
 
There were no purchases of our equity securities by us from inception to May 31, 2010.
 
Regulation of Mining Activity
 
Republic of Philippines Mining Laws
 
Government and environmental regulations exist in the Philippines and our exploration plans are subject to these various laws.  The rules are dynamic and are generally becoming more demanding.  Our plans aim to safeguard public and environmental health.  We are currently in compliance with all material mining, health, safety, and environmental statutes of the Republic of the Philippines.
 
Legislation
 
Changes to current laws in the jurisdiction in which we operate may require additional costs and financing.  These changes are unpredictable and the additional requirements may render certain exploration activities uneconomical and lead to business failure.
 
Description of Property
 
Information in this section of the prospectus is based upon the geological report on the Plandel Gold Claim dated July 10, 2009 titled "Summary of Exploration on the Plandel Property, Baguiao, Philippines”, which was authored by Roberto Noga, P. Geol., Manila, Republic of the Philippines (the “Report”).  The Report is exhibit 99 to the registration statement of which this prospectus is a part.
 
Property Location and Description
 
Plandel Gold Claim consists of one (1) unpatented mineral claim, located 30 kilometres northwest of the city of Baliuag at UTM co-ordinates Latitude 14 88’148”N and Longitude 120 86’712”E.  The mineral claim was assigned to Plandel Resources, Inc. by Rojas Ventures Ltd. (an unrelated company) and the said assignment was filed with the Mineral Resources Department of the Ministry of Energy and Mineral Resources of the Government of the Republic of the Philippines.
 
There are no known environmental concerns or parks designated for any area contained within the claims.  The property has no encumbrances.  As advanced exploration proceeds there may be bonding requirements for reclamation.
 
Plandel Resources, Inc. has purchased a 100% interest in the property.
 
Royalty Obligations
 
None.
 
Accessibility, Climate, Local Resources, Infrastructure, and Topography

 
17

 

Plandel Gold Claim is accessible from Plandel by travelling on the country’s only highway system which consists of, for the most part, one lane in each direction and by taking an all weather gravel road.  Plandel Gold Claim lies in a non-active seismic area.  The city was formed in the so-called Carbon period, some 350 million years ago.  During this period, large shallow marshes were formed with abundant vegetation.  The rotting plants and trees in these marshes turned into peat and later into coal.  The town still has large coal reserves, which is the basis for the city’s current coal mining industry.
 
The Philippines is situated between 5 and 22 degrees North Latitude.  This means the country falls within the so-called tropical climate zone, a zone characterized by high temperatures the whole year round, relatively high rainfall and lush vegetation.  Rainfall on the city can occur in every month, but the wettest months are October, November and December.  Annual rainfall is approximately 1.5 metres.  Due to the steep, deforested mountains, around 60 percent of the rainwater runs quickly to the sea.  The remaining 40 percent partly evaporates and partly seeps through to the island’s underground water aquifer.
 
Plandel Gold Claim’s area has an experienced work force and will provide all the necessary services needed for an exploration and development operation, including police, hospitals, groceries, fuel, helicopter services, hardware and other necessary items.  Drilling companies and assay facilities are present in Baliuag.
 
History
 
Deposits of shell and eroded sand formed the basis for the limestone, which makes up most of the Philippines.  This limestone was, over the ages, pushed upwards making it possible to find today sea fossils high in the country’s mountains.  This pushing up continues today.  It is caused by the fact that the Philippine Plate, on which most of the country lies, is slowly diving under the Eurasian Plate of the mainland Asia.
 
The Philippines are characterized by steep mountains without any substantial forest cover.  Highest peaks reach over 1,000 meters.  The island is 300 km long and 35 km wide.  Erosion is a problem as there is a lack of forest cover on the high, steep mountains.
 
The island has vast copper, gold and coal reserves which are mined mainly in the central part.
 
During the 1990’s several properties south of Plandel Gold Claim were drilled by junior mineral exploration companies.
 
Plandel Resources, Inc. is preparing to conduct preliminary exploration work on the property.
 
Geological setting
 
Regional Geology of the Area
 
The hilly terrains and the middle level plain contain crystalline hard rocks such as charnockites, granite gneiss, khondalites, leptynites, metamorphic gneisses with detached occurrences of crystalline limestone, iron ore, quartzo-feldspathic veins and basic intrusive such as dolerites and anorthosites.  Coastal zones contain sedimentary limestones, clay, laterites, heavy mineral sands and silica sands.  The hill ranges are sporadically capped with laterites and bauxites of residual nature.  Gypsum and phosphatic nodules occur as sedimentary veins in rocks of the cretaceous age.  Gypsum of secondary replacement occurs in some of the areas adjoining the foot hills of the Western Ghats.  Lignite occurs as sedimentary beds of tertiary age.  The Black Granite and other hard rocks are amenable for high polish.  These granites occur in the most of the districts except the coastal area.

 
18

 

Stratigraphy
 
The principal bedded rocks for the area of Plandel Gold Claim (and for most of the Philippines) are Precambrian rocks which are exposed along a wide axial zone of a broad complex.
 
Gold at the Nabo Gold Mine (which, as stated above, is in close proximity to the Plandel Gold Claim) is generally concentrated within extrusive volcanic rocks in the walls of large volcanic caldera.
 
Intrusive
 
In general, the volcanoes culminate with effluents of hydrothermal solutions that carry precious metals in the form of naked elements, oxides or sulphides.
 
These hydrothermal solutions intrude into the older rocks as quartz veins.  These rocks may be broken due to mechanical and chemical weathering into sand size particles and carried by streams and channels.  Gold occurs also in these sands as placers.
 
Gold belts in sheared gneissic rocks is found in three sub-parallel auriferous load zones where some blocks having 300 to 600 meter length and 2 to 3.5 meter width could be identified as most promising ones.
 
Structure
 
Depositional Environment / Geological Setting: Veins form in high-grade, dynamothermal metamorphic environment where metasedimentary belts are invaded by igneous rocks.
 
Host / Associated Rock Types:  Hosted by paragneisses, quartzites, clinopyroxenites, wollastonite-rich rocks, pegmatites.  Other associated rocks are charnockites, granitic and intermediate intrusive rocks, quartz-mica schists, granulites, aplites, marbles, amphibolites, magnetite-graphite iron formations and anorthosites.
 
Tectonic Setting(s): Katazone (relatively deep, high-grade metamorphic environments associated with igneous activity; conditions that are common in the shield areas).
 
Deposit Types
 
Deposits are from a few millimetres to over a metre thick in places.  Individual veins display a variety of forms, including saddle-, pod- or lens-shaped, tabular or irregular bodies; frequently forming anastomosing or stockwork patterns.
 
Mineralization is located within a large fractured block created where prominent northwest-striking shears intersect the north striking caldera fault zone.  The major lodes cover an area of 4 km and are mostly within 600 m of the surface.  Lodes occur in three main structural settings:
 
(i)    Steeply dipping northwest-striking shears;
 
(ii)   Flat-dipping fractures (flatmakes); and
 
(iii)   Shatter blocks between shears.
 
Most of the gold occurs in tellurides and there are also significant quantities of gold in pyrite.
 
Mineralization
 
No mineralization has been reported for the area of the property but structures and shear zones affiliated with mineralization on adjacent properties pass through it.

 
19

 

Exploration
 
Records indicate that no detailed exploration has been completed on the property.
 
Property Geology
 
To the south of the property is intrusive consisting of rocks such as tonalite, monzonite, and gabbro while the property itself is underlain by sediments and volcanic rock.  The intrusive also consist of a large mass of granodiorite towards the western most point of the property.
 
The area consists of interlayered chert, argillite and massive andesitic to basaltic volcanic.  The volcanic are hornfelsed, commonly contain minor pyrite, pyrrhotite.
 
Drilling Summary
 
No drilling is reported on the Plandel Gold Claim.
 
Sampling Method, Sample Preparation, Data Verification
 
All the exploration will be conducted according to generally accepted exploration procedures with methods and preparation that are consistent with generally accepted exploration practices.  No samples have been taken.
 
No other procedures of quality control will be employed and no opinion on their absence is expressed.
 
Adjacent Properties
 
The adjacent properties are cited as examples of the type of deposit that has been discovered in the area and are not relevant to this prospectus.
 
Interpretations and Conclusions
 
The area is well known for numerous productive mineral occurrences including the Nabo Gold Claim.
 
The locale of the Plandel Gold Claim is underlain by the units of the Precambrian rocks that are found at those mineral occurrence sites.
 
These rocks consisting of cherts and argillites (sediments) and andesitic to basaltic volcanic have been intruded by granodiorite.  Structures and mineralization probably related to this intrusion are found throughout the region and occur on the claim.  They are associated with all the major mineral occurrences and deposits in the area.
 
Mineralization found on the claim is consistent with that found associated with zones of extensive mineralization.  Past work however has been limited and sporadic and has not tested the potential of the property.  Potential for significant amounts of mineralization to be found exists on the property and it merits intensive exploration.
 
Report Recommendations
 
A two phase exploration program to further delineate the mineralized system currently recognized on Plandel Gold Claim is recommended.
 
The program would consist of air photo interpretation of the structures, geological mapping, both regionally and detailed on the area of the main showings, geophysical survey using both magnetic and electromagnetic instrumentation in detail over the area of the showings and in a regional reconnaissance survey and geochemical soil sample surveying regionally to identify other areas on the claim that are mineralized and in detail on the known areas of mineralization.  The effort of this exploration work is to define and enable interpretation of a follow-up diamond drill program, so that the known mineralization and the whole property can be thoroughly evaluated with the most up-to-date exploration techniques.

 
20

 

Budget
 
The proposed budget for the recommended work in PHP is 1,829,500 (or $39,319 USD) as follows:
 
Phase I
 
·      Geological Mapping
  PHP 315,000     $ 6,770  
                 
·      Geophysical Surveying
  PHP 276,000       5,932  
                 
Total
  PHP 591,000     $ 12, 702  
 
Phase II
 
 
·
Geochemical surveying and surface sampling (includes sample collection and assaying)
 
    PHP 1,238,500     $ 26,617  
                 
Total
  PHP 1,238,500       26,617  
                 
Grand Total Exploration
  PHP 1,829,500     $ 39,319 USD  
 
Glossary of Mining Terms
 
Amphibolite
a class of metamorphic rock composed mainly of amphibole with some quartz
 
Andesite
a class of fine-grained rock, of volcanic origin, containing mostly plagioclase and feldspar
 
Anorthosite
a phaneritic, intrusive igneous rock characterized by a predominance of plagioclase feldspar
 
Aplite
a fine-grained granitic rock composed mostly of quartz and feldspars
 
Aquifer
an underground layer of water-bearing porous stone, earth, or gravel
 
Argile
clay
 
Argillite
a rock derived either from siltstone, claystone or shale that has undergone a somewhat higher degree of induration than is present in those rocks.
 
Assaying
laboratory examination that determines the content or proportion of a specific metal contained within a sample.
 
Auriferous
refers to gold (AU) or gold equivalents (AUEQ).
 
Basalt
a hard rock of varied mineral content; volcanic in origin, it makes up much of the Earth's crust
 
Bauxite
the principal ore of aluminium; a clay-like mineral, being a mixture of hydrated oxides and hydroxides.
 
Caldera
a large circular volcanic depression often originating due to collapse

 
21

 

Charnockites
any orthopyroxene-bearing granite, composed mainly of quartz, perthite or antiperthite and orthopyroxene (usually hypersthene), as an end-member of the charnockite series [1] .
 
Chert
massive, dull-colored and opaque quartzite, hornstone, impure chalcedony or other flint-like mineral. By general usage in mineralogy and geology, a chert does not have a conchoidal fracture. In North American archeology the term chert occasionally is still used for various siliceous minerals (including flint) that have a conchoidal fracture; this leads to confusion between the terms flint and chert in some archeology texts.
 
Clay
a mineral substance made up of small crystals of silica and alumina, that is ductile when moist; the material of pre-fired ceramics; an earth material with ductile qualities
 
Clinopyroxene
any pyroxene that has a monoclinic crystal structure
 
Coal
a readily combustible black or brownish-black sedimentary rock normally occurring in rock strata in layers or veins called coal beds. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure. Coal is composed primarily of carbon along with variable quantities of other elements, chiefly sulfur, hydrogen, oxygen and nitrogen.
 
Copper
a chemical element with the symbol Cu (Latin: cuprum) and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is rather soft and malleable, and a freshly-exposed surface has a pinkish or peachy color.
 
Cretaceous age
a geological period and system from 145 to 65 million years ago.
 
Crystalline
a solid material, whose constituent atoms, molecules, or ions are arranged in an orderly repeating pattern extending in all three spatial dimensions; ie. crystals.
 
Dolerite
A fine-grained basaltic rock
 
Dynamothermal
rock formed at variable temperatures
 
Extrusive
the mode of igneous volcanic rock formation in which hot magma from inside the Earth flows out (extrudes) onto the surface as lava or explodes violently into the atmosphere to fall back as pyroclastics or tuff. This is opposed to intrusive rock formation, in which magma does not reach the surface. The main effect of extrusion is that the magma can cool much more quickly in the open air or under seawater, and there is little time for the growth of crystals. Often, a residual portion of the matrix fails to crystallize at all, instead becoming an interstitial natural glass or obsidian.
 
Fault
a break in the continuity of a body of rock.  It is accompanied by a movement on one side of the break or the other so that what were once parts of one continuous rock stratum or vein are now separated.  The amount of displacement of the parts may range from a few inches to thousands of feet.
 
Feldspar
any of a large group of rock-forming minerals that, together, make up about 60% of the earth's outer crust. The feldspars are all aluminum silicates of the alkali metals sodium, potassium, calcium and barium. Feldspars are the principal constituents of igneous and plutonic rocks.
 
Flatmake
flat-dipping fractures

 
22

 

Fold
a curve or bend of a planar structure such as rock stata, bedding planes, foliation, or cleavage.
 
Foliation
A general term for a planar arrangement of textural or structural features in any type of rock; esp., the planar structure that results from flattening of the constituent grains of a metamorphic rock.
 
Formation
a distinct layer of sedimentary rock of similar composition.
 
Gabbro
a group of dark-colored, basic intrusive igneous rocks composed principally of basic plagioclase (commonly labradorite or bytownite) and clinopyroxene (augite), with or without olivine and orthopyroxene; also, any member of that group. It is the approximate intrusive equivalent of basalt. Apatite and magnetite or ilmenite are common accessory minerals.
 
Geochemistry
the study of the distribution and amounts of the chemical elements in minerals, ores, rocks, solids, water, and the atmosphere.
 
Geophysicist
one who studies the earth; in particular the physics of the solid earth, the earth’s magnetosphere, and the atmosphere.
 
Geotechnical
the study of ground stability
 
Gneiss
a foliated rock formed by regional metamorphism, in which bands or lens-shaped strata or bodies of rock of granular minerals alternate with bands or lens-shaped strata or bodies or rock in which minerals having flaky or elongate prismatic habits predominate
 
Gold
chemical element with the symbol Au (from Latin: aurum, "shining dawn") and an atomic number of 79. It has been a highly sought-after precious metal for coinage, jewelry, and other arts since the beginning of recorded history. The metal occurs as nuggets or grains in rocks, in veins and in alluvial deposits. Gold is dense, soft, shiny and the most malleable and ductile pure metal known. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Gold is one of the coinage metals and has served as a symbol of wealth and a store of value throughout history. Gold standards have provided a basis for monetary policies. It also has been linked to a variety of symbolisms and ideologies.
 
Granite
highly felsic igneous plutonic rock, typically light in color; rough plutonic equivalent of rhyolite.  Granite is actually quite rare in the U.S.; often the term is applied to any quartz-bearing plutonic rock.
 
Granodiorite
a group of coarse-grained plutonic rocks intermediate in composition between quartz diorite and quartz monzonite, and potassium feldspar, with biotite, hornblende, or more rarely, pyroxene, as the mafic component.
 
Granulite
fine to medium–grained metamorphic rocks that have experienced high temperatures of metamorphism, composed mainly of feldspars sometimes associated with quartz and anhydrous ferromagnesian minerals, with granoblastic texture and gneissose to massive structure. They are of particular interest to geologists because many granulites represent samples of the deep continental crust. Some granulites experienced decompression from deep in the Earth to shallower crustal levels at high temperature; others cooled while remaining at depth in the Earth.

 
23

 

Graphite
one of the allotropes of carbon. Unlike diamond (another carbon allotrope), graphite is an electrical conductor, a semimetal, and can be used, for instance, in the electrodes of an arc lamp. Graphite holds the distinction of being the most stable form of carbon under standard conditions.
 
Gypsum
a mineral consisting of the hydrated calcium sulphate. When calcined, it forms plaster of Paris.
 
Heavy mineral sands ore deposits       a class of ore deposit which is an important source of zirconium, titanium, thorium, tungsten, rare earth elements, the industrial minerals diamond, sapphire, garnet, and occasionally precious metals or gemstones. Heavy mineral sands are placer deposits formed most usually in beach environments by concentration due to the specific gravity of the mineral grains. It is equally likely that some concentrations of heavy minerals (aside from the usual gold placers) exist within streambeds, but most are of a low grade and are relatively small.
 
Hydrothermal
creation of rock with fluid at high temperatures
 
Igneous
resulting from, or produced by, the action of great heat; with rocks, it could also mean formed from lava/magma; granite and basalt are igneous rocks
 
Intrusions
masses of igneous rock that, while molten, were forced into other rocks.
 
Iron
chemical element with the symbol Fe (Latin: ferrum) and atomic number 26. It is a metal in the first transition series. Like other group 8 elements, it exists in a wide range of oxidation states. Iron and iron alloys (steels) are by far the most common metals and the most common ferromagnetic materials in everyday use. Fresh iron surfaces appear lustrous silvery-gray, but oxidize in air. Iron is the most common element in the earth, albeit the fourth most common one in the earth's crust.
 
Khondalite 
a granulite-facies metasedimentary rock.
 
Laterite
a red hard or gravel-like soil or subsoil formed in the tropics that has been leached of soluble minerals leaving insoluble iron and aluminium oxides and hydroxides; used to make bricks and roads.
 
Leptynite
a granulite.
 
Lignite
a low-grade, brownish-black coal
 
Limestone
An abundant rock of marine and fresh-water sediments; primarily composed of calcite (calcium carbonate); it occurs in a variety of forms, both crystalline and amorphous.
 
Marble
a non foliated metamorphic rock composed mostly of calcite, a crystalline form of calcium carbonate. It is formed from carbonate rocks, often limestone. It is extensively used for sculpture and as a building material.
 
Magnetite
a ferrimagnetic mineral with chemical formula Fe 3 O 4 , one of several iron oxides and a member of the spinel group.
 
Metamorphic
the mineralogical, chemical, and structural adjustment of solid rocks to physical and chemical conditions that have generally been imposed at depth below the surface zones of weathering and cementation, and that differ from the conditions under which the rocks in question originated.
 
Metasediment
a metamorphosed sedimentary rock

 
24

 

Mica
the name of a group of hydrous aluminosilicate minerals characterized by highly perfect cleavage, so that they readily separate into very thin leaves, more or less elastic.
 
Monzonite
an intermediate igneous intrusive rock composed of approximately equal amounts of sodic to intermediate plagioclase and orthoclase feldspars with minor amounts of hornblende, biotite and other minerals.
 
Ore
the natural occurring mineral from which a mineral or minerals of economic value can be extracted profitable or to satisfy social or political objectives.
 
Oxides
a chemical compound containing at least one oxygen atom as well as at least one other element. Most of the Earth's crust consists of oxides. Oxides result when elements are oxidized by oxygen in air.
 
Paragneisses
a gneiss from sedimentary rock
 
Peat
an accumulation of partially decayed vegetation matter. Peat forms in wetland bogs, moors, muskegs, pocosins, mires, and peat swamp forests. Peat is harvested as an important source of fuel in certain parts of the world.
 
Pegmatite
a very coarse-grained, intrusive igneous rock composed of interlocking grains usually larger than 2.5 cm in size; such rocks are referred to as pegmatitic. Most pegmatites are composed of quartz, feldspar and mica; in essence a granite. Rarer intermediate composition and mafic pegmatites containing amphibole, Ca-plagioclase feldspar, pyroxene and other minerals are known, found in recrystallised zones and apophyses associated with large layered intrusions.
 
Phosphatic nodules       black to brown, rounded mass, variable in size from a few millimeters to 30 or more centimeters. Usually consists of coprolites, corals, shells, and bones, more or less enveloped in crusts of collophane. Found in many horizons of marine origin. Also covering the ocean floors at manylocations around the world
 
Placers
an accumulation of valuable minerals formed by deposition of dense mineral phases in a trap site.
 
Precious metals
     a rare, naturally occurring metallic chemical element of high economic value, which is not radioactive (excluding natural polonium, radium, actinium and protactinium). Chemically, the precious metals are less reactive than most elements, have high lustre, are softer or more ductile, and have higher melting points than other metals. Historically, precious metals were important as currency, but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
 
Production
a “production stage” project is actively engaged in the process of extraction and beneficiation of mineral reserves to produce a marketable metal or mineral product.
 
Pyrite
a yellow iron sulphide mineral of little value and referred to as ‘fool’s gold’.
 
Pyrrhotite
a bronze-colored, magnetic iron sulphide mineral
 
Quartz
a common rock-forming mineral consisting of silicon and oxygen
 
Quartzite
a hard metamorphic rock which was originally sandstone. Sandstone is converted into quartzite through heating and pressure usually related to tectonic compression within orogenic belts. Pure quartzite is usually white to grey, though quartzites often occur in various shades of pink and red due to varying amounts of iron oxide. Other colors, such as yellow and orange, are due to other mineral impurities.

 
25

 

Reserve
the term “reserve” refers to that part of a mineral deposit which could be economically and legally extracted or produced at the time of the reserve determination. Reserves must be supported by a feasibility study done to bankable standards that demonstrates the economic extraction. (“Bankable standards” implies that the confidence attached to the costs and achievements developed in the study is sufficient for the project to be eligible for external debt financing.) A reserve includes adjustments to the in-situ tons and grade to include diluting materials and allowances for losses that might occur when the material is mined.
 
Schist
any crystalline rock having a foliated structure and hence admitting of ready division into slabs or slates.
 
Seismic
referring to earthquakes
 
Shear
a form of strain resulting from stresses that cause or tend to cause contiguous parts of a body of rock to slide relatively to each other in a direction parallel to their plane of contact.
 
Silica
the chemical compound silicon dioxide, also known as silica (from the Latin silex), is an oxide of silicon with a chemical formula of SiO 2 and has been known for its hardness since antiquity. Silica is most commonly found in nature as sand or quartz, as well as in the cell walls of diatoms. Silica is the most abundant mineral in the Earth's crust.
 
Stockwork
a complex system of structurally controlled or randomly oriented veins. Stockworks are common in many ore deposit types and especially notable in greisens. They are also referred to as stringer zones.
 
Stratum
one of several parallel horizontal layers of material arranged one on top of another. A layer of sedimentary rock having approximately the same composition throughout
 
Sulphides
an anion of sulfur in its lowest oxidation number of −2. Sulfide is also a slightly archaic term for thioethers, a common type of organosulfur compound that are well known for their bad odors.
 
Telluride
a compound of a metal with tellurium; metal salts of tellurane. Any organic compound of general formula R 2 Te (R not = H), the tellurium analogues of ethers. Another name for sylvanite.
 
Tonalite
an igneous, plutonic (intrusive) rock, of felsic composition, with phaneritic texture. Feldspar is present as plagioclase (typically oligoclase or andesine) with 10% or less alkali feldspar. Quartz is present as more than 20% of the rock. Amphiboles and pyroxenes are common accessory minerals.
 
UTM
the Universal Transverse Mercator (UTM) coordinate system is a grid-based method of specifying locations on the surface of the Earth that is a practical application of a 2-dimensional Cartesian coordinate system. It is used to identify locations on the earth, but differs from the traditional method of latitude and longitude in several respects. The UTM system is not a single map projection. The system instead employs a series of sixty zones, each of which is based on a specifically defined secant transverse Mercator projection.
 
Vein
a thin, sheet-like body of hydrothermal mineralization, principally quartz.

 
26

 

Wall Rock
the rock adjacent to a vein.
 
Wollastonite
a calcium inosilicate mineral (CaSiO 3 ) that may contain small amounts of iron, magnesium, and manganese substituting for calcium. It is usually white. It forms when impure limestone or dolostone is subjected to high temperature and pressure sometimes in the presence of silica-bearing fluids as in skarns or contact metamorphic rocks. Associated minerals include garnets, vesuvianite, diopside, tremolite, epidote, plagioclase feldspar, pyroxene and calcite. It is named after the English chemist and mineralogist William Hyde Wollaston (1766–1828).
 
Legal Proceedings
 
None reported or pending.  Neither we nor our property are subject to any material legal proceedings or other regulatory proceedings and to our knowledge no such proceedings are contemplated or threatened.
 
Enforceability of Civil Liabilities Against Foreign Persons
 
It may be difficult to bring and enforce suits against our management in the United States as they are citizens of the Republic of the Philippines.  The Company, however, is incorporated in the State of Nevada.  Cash and  the one mineral claim are our only assets.
 
Market for Common Equity, Dividends and Related Stockholder Matters
 
Holders
 
Plandel has two (2) shareholders at the date of this prospectus.
 
Market Information
 
At the present time, there is no established market price for our shares. There are no shares have been offered pursuant to or underlying an employee benefit plan.  There are no shares of common stock that are subject to outstanding options, warrants or securities convertible into common equity of our Company. The number of shares subject to Rule 144 is 30,000,000.   Share certificates representing these shares have the appropriate legend.
 
No Public Market for Common Stock
 
There is currently no public market for our common stock.  We anticipate making an application for quotation of our common stock on the OTC Bulletin Board upon: (i) the effectiveness of the registration statement of which this prospectus forms a part; and (ii) our obtaining a sufficient number of stockholders to enable our common stock to become quoted on the OTC Bulletin Board.  However, we can provide no assurance that our shares will be quoted on the bulletin board or, if quoted, that a public market will materialize.
 
The SEC has adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00, other than securities registered on certain national securities exchanges or quoted on the Nasdaq system, provided that current price and volume information with respect to transactions in such securities is provided by the exchange or quotation system.  The penny stock rules require a broker-dealer, prior to a transaction in a penny stock, to deliver a standardized risk disclosure document prepared by the SEC, that: (a) contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading; (b) contains a description of the broker's or dealer's duties to the customer and of the rights and remedies available to the customer with respect to a violation to such duties or other requirements of Securities laws; (c) contains a brief, clear, narrative description of a dealer market, including bid and ask prices for penny stocks and the significance of the spread between the bid and ask price;  (d) contains a toll-free telephone number for inquiries on disciplinary actions; (e) defines significant  terms in the disclosure document or in the conduct of trading in penny stocks; and (f) contains such other information and is in such form, including language, type, size and format, as the SEC shall require by rule or regulation.

 
27

 

The broker-dealer also must provide, prior to effecting any transaction in a penny stock, the customer with: (a) bid and offer quotations for the penny stock; (b) the compensation of the broker-dealer and its salesperson in the transaction; (c) the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and (d) monthly account statements showing the market value of each penny stock held in the customer's  account. In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from those rules; the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser’s written acknowledgment of the receipt of a risk disclosure statement, a written agreement to transactions involving penny stocks, and a signed and dated copy of a suitably written statement.
 
These disclosure requirements may have the effect of reducing the trading activity in the secondary market for our stock if it becomes subject to these penny stock rules. Therefore, if our common stock becomes subject to the penny stock rules, stockholders may have difficulty selling those securities.
 
Outstanding Options, Warrants or Convertible Securities
 
As of the date of this prospectus, we do not have any outstanding options, warrants to purchase our common stock or securities convertible into shares of our common stock.
 
Rule 144 Shares
 
In general, under Rule 144, a person who is not one of our affiliates and who is not deemed to have been one of our affiliates at any time during the three months preceding a sale and who has beneficially owned shares of our common stock for at least six months would be entitled to sell them without restriction, subject to the continued availability of current public information about us (which current public information requirement is eliminated after a one-year holding period).
 
A person who is an affiliate and who has beneficially owned shares of a company’s common stock for at least six months, subject to the continued availability of current public information about us, is entitled to sell within any three month period a number of shares that does not exceed the greater of:
 
1.           One percent of the number of shares of the company's common stock then outstanding, which, in our case, will equal approximately 300,000 shares as of the date of this prospectus; or
 
2.           The average weekly trading volume of the company's common stock during the four calendar weeks preceding the filing of a notice on form 144 with respect to the sale.
 
Rule 144 is not available for either a reporting or non-reporting shell company, as defined under Rule 405 of the Securities Act, unless the company: has ceased to be a shell company; is subject to the Exchange Act reporting obligations; has filed all required Exchange Act reports during the preceding twelve months; and at least one year has elapsed from the time the company filed with the SEC, current Form 10 type information reflecting its status as an entity that is not a shell company.
 
Registration Rights
 
We have not granted registration rights to either Mario S. Gregorio or Rizalina Raneses or to any other persons.

 
28

 
 
We are paying the expenses of the Offering because we seek to: (i) become a reporting company with the SEC under the Exchange Act; and (ii) obtain a sufficient number of shareholders to enable our common stock to be quoted on the OTC Bulletin Board.  We plan to file a Registration Statement on Form 8-A with the SEC concurrently with, or immediately following, the effectiveness of this Registration Statement on Form S-1.  The filing of the Registration Statement on Form 8-A will cause us to become a reporting company with the SEC under the Exchange Act concurrently with the effectiveness of the Registration Statement on Form S-1.  We must be a reporting company under the Exchange Act in order for our common stock to be eligible for quotation on the OTC Bulletin Board.  We believe that the registration of this Offering may facilitate the development of a public market in our common stock if our common stock is approved for quotation on the OTC Bulletin Board.
 
We believe that the development of a public market for our common stock will make an investment in our common stock more attractive to future investors.  In the near future, in order for us to continue with our exploration program, we may need to raise additional capital.  We believe that obtaining reporting company status under the Exchange Act and quotation on the OTC Bulletin Board should increase our ability to raise these additional funds from investors.
 
Anti-takeover Provisions
 
In accordance with the laws of the State of Nevada and the Securities Regulation Act.
 
The Chapter 78 of Nevada Revised Statutes contains a provision governing "acquisition of controlling interest."  This law provides generally that any person or entity that acquires 20% or more of the outstanding voting shares of a publicly-held Nevada corporation in the secondary public or private market may be denied voting rights with respect to the acquired shares, unless a majority of the disinterested shareholders of the corporation elects to restore such voting rights in whole or in part. The control share acquisition act provides that a person or entity acquires "control shares" whenever it acquires shares that, but for the operation of the control share acquisition act, would bring its voting power within any of the following three ranges: 20 to 33 1/3%; 33 1/3 to 50%; or more than 50%.
 
A "control share acquisition" is generally defined as the direct or indirect acquisition of either ownership or voting power associated with issued and outstanding control shares.  The shareholders or board of directors of a corporation may elect to exempt the stock of the corporation from the provisions of the control share acquisition act through adoption of a provision to that effect in the articles of incorporation or bylaws of the corporation.  Our articles of incorporation and bylaws do not exempt our common stock from the control share acquisition act.
 
The control share acquisition act is applicable only to shares of "Issuing Corporations" as defined by the Nevada law.  An Issuing Corporation is a Nevada corporation, which: has 200 or more shareholders, with at least 100 of such shareholders being both shareholders of record and residents of Nevada; and does business in Nevada directly or through an affiliated corporation.
 
At this time, we do not have 100 shareholders of record resident of Nevada.  Therefore, the provisions of the control share acquisition act do not apply to acquisitions of our shares and will not until such time as these requirements have been met.  At such time as they may apply, the provisions of the control share acquisition act may discourage companies or persons interested in acquiring a significant interest in or control of us, regardless of whether such acquisition may be in the interest of our shareholders.

 
29

 

The Nevada "Combination with Interested Shareholders Statute" may also have an effect of delaying or making it more difficult to effect a change in control of us.  This statute prevents an "interested shareholder" and a resident domestic Nevada corporation from entering into a "combination," unless certain conditions are met.  The statute defines "combination" to include any merger or consolidation with an "interested shareholder," or any sale, lease, exchange, mortgage, pledge, transfer or other disposition, in one transaction or a series of transactions with an "interested shareholder" having: an aggregate market value equal to 5 percent or more of the aggregate market value of the assets of the corporation; an aggregate market value equal to 5 percent or more of the aggregate market value of all outstanding shares of the corporation; or representing 10 percent or more of the earning power or net income of the corporation.
 
An "interested shareholder" means the beneficial owner of 10 percent or more of the voting shares of a resident domestic corporation, or an affiliate or associate thereof.  A corporation affected by the statute may not engage in a "combination" within three years after the interested shareholder acquires its shares unless the combination or purchase is approved by the board of directors before the interested shareholder acquired such shares. If approval is not obtained, then after the expiration of the three-year period, the business combination may be consummated with the approval of the board of directors or a majority of the voting power held by disinterested shareholders, or if the consideration to be paid by the interested shareholder is at least equal to the highest of: the highest price per share paid by the interested shareholder within the three years immediately preceding the date of the announcement of the combination or in the transaction in which he became an interested shareholder, whichever is higher; the market value per common share on the date of announcement of the combination or the date the interested shareholder acquired the shares, whichever is higher; or if higher for the holders of preferred stock, the highest liquidation value of the preferred stock.
 
Registered Agent
 
We are required by Section 78.090 of the Nevada Revised Statutes (the “NRS”) to maintain a registered agent in the State of Nevada.  Our registered agent for this purpose is American Corporate Enterprises, 123 W Nye Lane, Suite 129, Carson City, NV 89703.  All legal process and any demand or notice authorized by law to be served upon us may be served upon our registered agent in the State of Nevada in the manner provided in NRS 14.020(2).
 
Transfer Agent
 
We have engaged the services of Holladay Stock Transfer, 2939 North 67 th Place, Scottsdale, Arizona, 85251-6015, Telephone No.: (480) 481-3940.
 
Dividend Policy
 
 We have not declared or paid any dividends on our capital stock and do not anticipate paying any cash dividends in the foreseeable future as we plan to retain any earnings to support operations and to finance growth and development of our business.

 
30

 
 
Financial Statements
 
Our fiscal year end is May 31. We will provide audited financial statements to our stockholders on an annual basis; the financial statements have been audited by independent accountants. Our audited financial statements for the period from inception, March 19, 2010, to May 31, 2010 are set forth below.
 
FINANCIAL STATEMENTS May 31, 2010
 
Page
     
Report of Independent Auditors
 
32
     
Balance Sheets as at May 31, 2010
 
33
     
Statement of Operations for the period from inception March 19, 2010 to May 31, 2010.
 
34
     
Statement of Shareholders’ Equity for the period from inception March 19, 2010 to May 31, 2010.
 
35
     
Statement of Cash Flows for the period from inception March 19, 2010 to May 31, 2010.
 
36
     
Notes to the Financial Statements
 
37

 
31

 
 
Board of Directors
Plandel Resources, Inc.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We have audited the accompanying balance sheet of Plandel Resources, Inc. (pre-exploration stage company) at May 31, 2010 and the related statements of operations, stockholders' equity, and cash flows for the period from March 19, 2010 (date of inception) to May 31, 2010. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have nor were we engaged to perform an audit of its internal control over financial reporting.   Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control over financial reporting.  Accordingly, we express no such opinion.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosure in the financial statements.  An audit includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall balance sheet presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Plandel Resources, Inc. (pre-exploration stage company) as at May 31, 2010 and the related statements of operations and cash flows for the period from March 19, 2010 (date of inception) to May 31, 2010, in conformity with accounting principles generally accepted in the United States of America.

Murray, Utah
/s/  “Madsen & Associates, CPA’s Inc.”
June 18, 2010
 

 
32

 
 
PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
BALANCE SHEET
 
   
May 31, 2010
 
       
ASSETS
     
       
CURRENT ASSETS
     
       
Cash in Trust
  $ 23,986  
         
Total Current Assets
  $ 23,986  
         
LIABILITIES AND STOCKHOLDERS’ EQUITY
       
         
CURRENT LIABILITIES
       
         
Accounts payable
  $ 13,800  
         
Total Current Liabilities
    13,800  
         
STOCKHOLDERS’ EQUITY
       
         
Common stock
       
300,000,000 shares authorized, at $0.001 par value; 30,000,000 shares issued and outstanding
    30,000  
Capital in excess of par value
    2,900  
Deficit accumulated during the pre-exploration stage
    (22,714 )
         
Total Stockholders’ Equity
    10,186  
         
    $ 23,986  
 
The accompanying notes are an integral part of these financial statements.

 
33

 

PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
STATEMENT OF OPERATIONS

For the period from March 19, 2010 (date of inception) to May 31, 2010
 
   
From March 19, 2010
(date of inception) to
May 31, 2010
 
       
REVENUES
  $  -  
         
EXPENSES
       
         
Accounting and audit
    3,800  
Consulting
    10,000  
Exploration expenses
    5,000  
Filing fees
    614  
Incorporation costs
    400  
Management fees
    2,000  
Rent
    600  
Telephone
    300  
         
NET LOSS FROM OPERATIONS
  $ (22,714 )
         
NET LOSS PER COMMON SHARE
       
         
Basic and diluted
  $ (0.00 )
         
AVERAGE OUTSTANDING SHARES
       
         
Basic
    25,068,493  
 
The accompanying notes are an integral part of these financial statements.

 
34

 

PLANDEL RESOURCES, INC.
 (Pre-Exploration Stage Company)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

Period March 19, 2010 (date of inception) to May 31, 2010

                         
               
Capital in
       
   
Common Stock
   
Excess of
   
Accumulated
 
   
Shares
   
Amount
   
Par Value
   
Deficit
 
                         
Balance March 19, 2010
    -     $ -     $ -     $ -  
                                 
Issuance of common shares for cash at $.001 – March 31, 2010
    30,000,000       30,000       -       -  
                                 
Capital contributions – expenses
    -       -       2,900       -  
                                 
Net operating loss for the period March 19, 2010 (date of Inception) to May 31, 2010
     -        -        -       (22,714 )
                                 
Balance as at May 31, 2010
    30,000,000     $ 30,000     $ 2,900     $ (22,714 )
 
The accompanying notes are an integral part of these financial statements

 
35

 

PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
STATEMENT OF CASH FLOWS
 
For the period from March 19, 2010 (date of inception) to May 31, 2010
 
   
From March 19,
2010 (date of
inception) to
May 31, 2010
 
       
CASH FLOWS FROM OPERATING ACTIVITIES:
     
       
Net loss
  $ (22,714 )
         
Adjustments to reconcile net loss to net cash provided by operating activities:
       
         
Capital contributions – expenses
    2,900  
Changes in accounts payable
    13,800  
         
Net Cash  Provided (Used) in Operations
    (6,014 )
         
CASH FLOWS FROM INVESTING ACTIVITIES:
    -  
         
CASH FLOWS FROM FINANCING ACTIVITIES
       
         
Proceeds from issuance of common stock
    30,000  
         
Net Cash from financing operations
    30,000  
         
Net Increase in Cash
    23,986  
         
Cash at Beginning of Period
    -  
         
CASH AT END OF PERIOD
  $ 23,986  
 
The accompanying notes are an integral part of these financial statements

 
36

 

PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
NOTES TO FINANCIAL STATEMENTS
 
May 31, 2010
 
1.           ORGANIZATION
 
Plandel Resources, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on March 19, 2010 with the authorized common capital stock of 300,000,000 shares at $0.001 par value.
 
The Company was organized for the purpose of acquiring and developing mineral properties.  At the report date mineral claims, with unknown reserves, had been acquired.  The Company has not established the existence of a commercially minable ore deposit and therefore has not reached the exploration stage and is considered to be in the pre-exploration stage.
 
The Company has selected May 31 as its year end.
 
2.           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
Accounting Methods
 
The Company recognizes income and expenses based on the accrual method of accounting.
 
Dividend Policy
 
The Company has not yet adopted a policy regarding payment of dividends.
 
Financial Instruments
 
The carrying amounts of financial instruments are considered by management to be their estimated fair values due to their short term maturities.

 
37

 
 
PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
NOTES TO FINANCIAL STATEMENTS
 
May 31, 2010
 
Basic and Diluted Net Income (loss) Per Share
 
 
Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding.   Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report.
 
Income Taxes
 
The Company utilizes the liability method of accounting for income taxes.  Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed.   An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.
 
On May 31, 2010, the Company had a net operating loss carry forward of $22,714 for income tax purposes.  The tax benefit of approximately $6,800 from the loss carry forward has been fully offset by a valuation reserve because the future tax benefit is undeterminable since the Company is unable to establish a predictable projection of operating profits for future years.   The losses will expire in 2030.
 
Foreign Currency Translations
 
Part of the transactions of the Company were completed in Canadian dollars and have been translated to US dollars as incurred, at the exchange rate in effect at the time, and therefore, no gain or loss from the translation is recognized.  The functional currency is considered to be US dollars.
 
Revenue Recognition
 
Revenue is recognized on the sale and delivery of a product or the completion of a service provided.

 
38

 

PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
NOTES TO FINANCIAL STATEMENTS
 
May 31, 2010
 
Advertising and Market Development
 
The company expenses advertising and market development costs as incurred.
 
Financial and Concentrations Risk
 
The Company does not have any concentration or related financial credit risks.
 
Impairment of Long-lived Assets
 
The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable.  The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable.   When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.
 
Mineral Propert y Acquisition Costs
 
 
Cost of acquisition and option costs of mineral rights are capitalized upon acquisition.  Mine development costs incurred to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property.   Cost incurred to maintain current production or to maintain assets on a standby basis are charged to operations.   If the Company does not continue with exploration after the completion of the feasibility study, the mineral rights will be expensed at that time.  Costs of abandoned projects are charged to mining costs including related property and equipment costs.   To determine if these costs are in excess of their recoverable amount periodic evaluation of carrying value of capitalized costs and related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets.
 
Various factors could impact our ability to achieve forecasted production schedules.  Additionally, commodity prices, capital expenditure requirements and reclamation costs could differ from the assumptions the Company may use in cash flow models used to assess impairment.   The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those factors applicable to mineral interests when proven and probable reserves have been identified, due to lower level of confidence that the identified mineralized material can ultimately be mined economically.

 
39

 
 
PLANDEL RESOURCES, INC.
 
(Pre-exploration Stage Company)
 
NOTES TO FINANCIAL STATEMENTS
 
May 31, 2010
 
Estimates and Assumptions
 
Management uses estimates and assumptions in preparing financial statements in accordance with general accepted accounting principles.  Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.   Actual results could vary from the estimates that were assumed in preparing these financial statements.
 
Environmental Requirements
 
 
At the report date environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made.
 
Recent Accounting Pronouncements
 
The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.
 
3.           AQUISITION OF MINERAL CLAIM
 
 
The Company acquired a mineral claim known as the Plandel Gold Claim located near Baliuag in the Republic of the Philippines for $5,000 from Rojas Ventures Ltd, an unrelated company located in Manila, Philippines.  The claim, under Philippine mineral law, remains in good standing until such time as the Company abandons it.
 
 
The acquisition costs have been impaired and expensed because there has been no exploration activities nor has there been any reserves established and we cannot currently project any future cash flows or salvage value for the coming year and the acquisition costs might not be recoverable.

 
40

 
 
4.           SIGNIFICANT TRANSACTIONS WITH RELATED PARTY
 
The officers-director have acquired 100% of the common stock issued and have made contributions to capital of $2,900 in the form of expenses paid for the Company.
 
5.           CAPITAL STOCK
 
On March 31, 2010, Company completed a private placement consisting of 30,000,000 common shares sold to directors and officers at a price of $0.001 per share for a total consideration of $30,000.
 
6.           SUBSEQUENT EVENTS
 
The Company has evaluated subsequent events from the balance sheet through to the date of this report and has found no material subsequent events to report.

 
41

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations
 
This discussion should be considered in conjunction with audited financial statements of the company and forward-looking statements contained here apply from this date and involve some risks and uncertainties. We are a start-up, pre-exploration stage company.  We have a limited operating history and have not yet generated or realized any revenues from our activities.  We have yet to undertake any exploration activity on our sole property, the Plandel Gold Claim.  As our property is in the early stage of exploration and there is no reasonable likelihood that revenue can be derived from the property in the foreseeable future.  Our plan is to explore the Plandel Gold Claim for gold; we want to proceed but lack of sufficient cash is our limiting factor.  The two phase exploration program will cost $12,702 (PHP 591,000) for Phase I and $26,617 (PHP 1,238,500) for Phase II.  Thus, the anticipated company expenses over the next year are roughly $40,000 in exploration alone if Phase I and Phase II are undertaken.  We also anticipate an additional $12,175 for operating expenses including professional legal and accounting services required after becoming a reporting company. No revenues have yet been earned.  We are a pre-exploration company and do not anticipate revenues until a commercially profitable product can be extracted and sold.  As exploration has not yet commenced, we remain uncertain as to whether we will ever discover profitable amounts of mineral and what the market will be for it when and if we do produce some.  If conditions are favourable, then upon discovery we will enter into production. If we do not proceed then we will try to acquire an interest in another mineral claim.  Should we not have sufficient funds to purchase another mineral claim outright then we may have to make a share offering to obtain an option on a property.  If that succeeds then again we would try to explore with money raised by offering our stock, engaging in borrowing, or locating a joint venture partner.  We have not generated any revenues and no revenues are anticipated until we begin removing and selling minerals, if ever. Accordingly, we must raise cash from sources other than the sale of gold found on the Plandel Gold Claim.
 
To implement further exploration work on the Plandel Gold Claim and to stay in business, we must raise additional cash – particularly over the next 12 months.   If we cannot raise additional funds we will not have sufficient funds to satisfy our cash requirements and would have to go out of business. Since our business activity is related solely to the exploration and evaluation of the Plandel Gold Claim, it is the opinion of management that the most meaningful financial information relates primarily to current liquidity and solvency.   As at May 31, 2010, we had $10,186 in working capital. Our future financial success will be dependent on the success of the exploration work on the Plandel Gold Claim.   Such exploration may take years to complete and future cash flows, if any, are impossible to predict at this time.   The realization value from any mineralization which may be discovered by us is largely dependent on factors beyond our control such as the market value of metals produced, mining regulations in the Philippines and foreign exchange rates.
 
Liquidity and Capital Resources
 
Since inception to May 31, 2010 we have raised capital through private placements of common stock aggregating $30,000 with our only two shareholders and officers Mario Gregorio and Rizalina Raneses.  We currently have no working capital and we will have to draw down additional funds from the loan facility provided by our President and/or raise capital from other sources within the next twelve months, and in order to satisfy our cash requirements.  As of May 31, 2010 our total assets were $23,986 and our total liabilities were $13,800.

 
42

 

Our capital commitments for the coming twelve months consist of administrative expenses together with expenses associated with the completion of our planned exploration program.  Including this exploration work, we estimate that we will have to incur the following expenses during the next nine months:
 
Expenses
 
Amount
 
Description
Accounting
  $ 4,650  
Fees to the independent accountant for preparing the quarterly and annual working papers for the financial statements for the calendar year ended 2011.
Audit
    4,550  
Review of the quarterly financial statements and audit of the annual financial statements
Exploration
    12,702  
Per Roberto Noga for Phase I
Filing Fees
    475  
Annual fee to the Secretary of State for Nevada
Office
    1,000  
Photocopying, delivery and fax expenses
Transfer agent’s fees
    1,500  
Annual fee of $500 and estimated miscellaneous charges of $1,000
Estimated Expenses
  $ 24,877    
 
Since our initial share issuances, the Company has been unable to raise additional cash forcing it to rely in the future upon cash advances from its directors to meet current and future liabilities over the next few months.
 
We have no plant or significant equipment to sell, nor are we going to buy any plant or significant equipment during the next twelve months.  We will not buy any equipment until we have located a body of ore and we have determined it is economical to extract the ore from the land. We may attempt to interest other companies to undertake exploration work on the Plandel Gold Claim through joint venture arrangement or even the sale of part of the Plandel Gold Claim.  Neither of these avenues has been pursued as of the date of this prospectus. Our geologist has recommended an exploration program for the Plandel Gold Claim.  However, even if the results of this work suggest further exploration work is warranted, we do not presently have the requisite funds and so will be unable to complete anything beyond the exploration work on Phase I recommended in Roberto Noga’s Report until we raise more money or find a joint venture partner to complete the exploration work.  If we cannot find a joint venture partner and do not raise more money, we will be unable to complete any work beyond the exploration program recommended by our geologist.  If we are unable to finance additional exploration activities, we do not know what we will do and we do not have any plans to do anything else. We do not intend to hire any employees at this time.  All of the work on the Plandel Gold Claim will be conducted by our two officers who have extensive experience in geology.  They will be responsible for supervision, surveying, exploration, and excavation and will be capable of evaluating the information derived from the exploration and excavation including advising Plandel on the economic feasibility of removing any mineralized material we may discover.
 
Limited Operating History; Need for Additional Capital
 
There is no historical financial information about us upon which to base an evaluation of our performance as an exploration corporation. We are a pre-exploration stage company and have not generated any revenues from our exploration activities. We cannot guarantee we will be successful in our exploration activities. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of our properties, and possible cost overruns due to price and cost increases in services.
 
To become profitable and competitive, we must invest into the exploration of our property before we start production of any minerals we may find. We must obtain equity or debt financing to provide the capital required to fully implement our phased exploration program.  We have no assurance that financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to commence, continue, develop or expand our exploration activities. Even if available, equity financing could result in additional dilution to existing shareholder.

 
43

 
 
Results of Operations – For the period from March 19, 2010 to May 31, 2010
 
We incurred a net loss of $22,714 for the period from March 19, 2010 to May 31, 2010, resulting in a loss per share of $0.00. The loss was attributable to an aggregate of administrative expenses of $17,714 and $5,000 in exploration expenses.
 
Our Planned Exploration Program
 
We must conduct exploration to determine what, if any, amounts of minerals exist on the Plandel Gold Claim and if such minerals can be economically extracted and profitably processed.
 
Our planned exploration program is designed to efficiently explore and evaluate our property.
 
Our anticipated exploration costs for Phase I work on the Plandel Gold Claim are approximately $12,702.  This figure represents the anticipated cost to us of completing only Phase I work recommended by Roberto Noga.  However, should the results of this work be sufficiently encouraging to justify our undertaking Phase II work recommended in the Roberto Noga Report (included in “Description of Property”), at an estimated cost of $26,617, we will have to raise additional investment capital.  Regardless, we will have to raise additional funds within the next twelve months in order to satisfy our ongoing cash requirements and finance anything beyond Phase I work on the Plandel Gold Claim.
 
Balance Sheet
 
Total cash as at May 31, 2010 was $23,986.  Our working capital as at May 31, 2010 was $10,186.
 
Since inception to May 31, 2010, our working capital was derived from the completion of an initial seed capital offering March 31, 2010 which raised $30,000.Total shareholder’s deficit as at May 31, 2010 was $10,186. Total shares outstanding as at May 31, 2010 were 30,000,000.
 
Trends
 
We are in the pre-explorations stage, have not generated any revenue and have no prospects of generating any revenue in the foreseeable future.  We are unaware of any known trends, events or uncertainties that have had, or are reasonably likely to have, a material impact on our business or income, either in the long term of short term, other than as described in this section or in “Risk Factors”, page 9.
 
Critical Accounting Policies
 
Our discussion and analysis of its financial condition and results of operations, including the discussion on liquidity and capital resources, are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, management re-evaluates its estimates and judgments.
 
The going concern basis of presentation assumes we will continue in operation throughout the next fiscal year and into the foreseeable future and will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. Certain conditions, discussed below, are currently present that raise substantial doubt upon the validity of this assumption. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

 
44

 
 
Our intended exploration activities are dependent upon our ability to obtain third party financing in the form of debt and equity and ultimately to generate future profitable exploration activity or income from its investments. As of the date of this registration statement we have not generated revenues, and have experienced negative cash flow from minimal exploration activities. We may look to secure additional funds through future debt or equity financings. Such financings may not be available or may not be available on reasonable terms.
 
Changes in and Disagreements with Accountants on Accounting Procedures and Financial Disclosure
 
None exist.

 
45

 

Directors and Executive Officers
 
Plandel has one director and two executive officers.  The Board may consist of one to nine members as specified by the bylaws.  They serve until their successor is elected and qualified.  Elections are by stockholders at the annual general meeting.  Officers are appointed by the Board and serve until their successors are appointed at the next annual meeting.
 
Name
 
Age
 
Position
 
Address
Mario S. Gregorio
 
47
 
Chief Executive Officer (President and Director)
 
2432 M. Dela Cruz St., Pasay City, Philippines
Rizalina Raneses
  
56
  
Chief Financial Officer (Secretary and Treasurer)
  
2479 Ramos Street, Pasay City, Philippines

Mario Santos Gregorio – President and Director
 
Mr. Gregorio has 25 years of mining experience.  He is a citizen of the Philippines and attended the University of the Far East, Manila, Philippines.  There he received a Bachelor of Science in Geology with Honors and authored papers on Methodology of Exploration.  Some of these findings were incorporated by the Bureau of Mines in the Philippines in 1994.  Starting in 1985, he was a staff geologist for Bayabas Resources in Manila and was responsible for both site visits and evaluating the findings of geologists for properties that his company was considering to explore. In 1999, he became Director of Exploration of Jumpay Mining LLC in Cebu, Philippines and was responsible for making recommendations to upper management as to whether or not a property should be explored and regarding personnel matters.  Since 2003, he has been Senior Director of Exploration for Silva Mining and is responsible for all exploration activities in the northern part of the Philippines.  Fifteen geologists report directly to him.  Currently he works only part-time with the company devoting a few hours a month to administrative issues.
 
Rizalina Raneses – Secretary and Treasurer
 
Mrs. Raneses has 35 years of mining experience.  She is a citizen of the Philippines and attended the University of Philippines, Manila, Philippines.  There she received a Bachelor of Science in Geology.  In 1975, she became employed by the Bureau of Mines and Mining of the Government of the Philippines as a field geologist and was responsible for coordinating all field visits by Bureau personnel of mining claims in the southern part of the country.  In 2000, she started work with Barrios Resource Inc. in Manila as Senior Consulting Geologist and was responsible for evaluating the findings of field geologists regarding potential mineral exploration sites.  Currently she works only part-time with the company devoting a few hours a month to accounting matters.
 
Currently neither of the executive officers are directors or executive officers of any other mining companies.  There is no guarantee that this won’t change in the future and may present a conflict of interest.  A Code of Ethics has thus been adopted to ensure responsible conduct to its customers, employees, lenders, shareholders and other stakeholders.
 
No other significant employees exist with our company at this time and there are no paid employees.  Our Officers and Director fulfil many functions that would otherwise require Plandel to hire employees or outside consultants.

 
46

 

Conflicts of Interest
 
Our officers and director are not directors or officers of any other company involved in the mining industry.  However there can be no assurance such involvement will not occur in the future.  Such present and potential future, involvement could create a conflict of interest.
 
To ensure that potential conflicts of interest are avoided or declared to Plandel and its shareholders and to comply with the requirements of the Sarbanes Oxley Act of 2002, the Board of Directors adopted, on March 23, 2010, a Code of Business Conduct and Ethics. Plandel’s Code of Business Conduct and Ethics embodies our commitment to such ethical principles and sets forth the responsibilities of Plandel and its officers and director to its shareholder, employees, customers, lenders and other stakeholder. Our Code of Business Conduct and Ethics addresses general business ethical principles and other relevant issues.
 
Involvement in Certain Legal Proceedings
 
To the knowledge of the Company, during the past five years, none of our directors or executive officers:
 
(1)
has filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by the court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filings;
 
(2)
was convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);
 
(3)
was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting, the following activities:
 
(i) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, associated person of any of the foregoing, or as an investment advisor, underwriter, broker or dealer in securities, or as an affiliate person, director or employee of any investment company, or engaging in or continuing any conduct or practice in connection with such activity;
 
(ii)  engaging in any type of business practice; or
 
(iii) engaging in any activities in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws;
 
(4)
was the subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activities;
 
(5)
was found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, and the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended, or vacated.
 
(6)
was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated.

 
47

 
 
Executive Compensation
 
We have no standard arrangement to compensate directors for their services in their capacity as directors. The Director and Officers are not paid for meetings attended.   All travel and lodging expenses associated with corporate matters are reimbursed by us, if and when incurred. Currently, the director and officers receive and have received no funds or other cash considerations.  There are no financial agreements with our executive officers at this time although we will reimburse them for reasonable expenses incurred during their performance.  We won’t pay compensation for attendance at meetings.  The table below summarizes compensation:
 
Summary Compensation Table
 
Annual Compensation
   
Long-term Compensation
 
     
Awards
   
Payouts
 
Name and
Principal
Position
 
Year
 
Salary
($)
   
Other Annual
Compensation
($)
   
Restricted
Stock
Awards
($)
   
Options/SAR
(Number)
   
LTIP
Payouts
($)
   
All Other
Compensation
($)
 
(a)
 
(b)
 
(c)
   
(d)
   
(e)
   
(f)
   
(g)
   
(h)
 
Mario Gregorio, CEO
 
2010
    -0-       -0-       -0-       -0-       -0-       -0-  
Rizalina Raneses, CFO
 
2010
    -0-       -0-       -0-       -0-       -0-       -0-  
 
Employment Agreements
 
We have no employment agreements with any of our executive officers.
 
Equity Compensation Plans, Stock Options, Bonus Plans
 
No such plans or options exist.  None have been approved or are anticipated.  No Compensation Committee exists either.
 
Corporate Governance
 
Director Independence
 
Our Director is not independent within the meaning of Section 5605 of NASDAQ.
 
Board Committees
 
The Audit Committee
 
We have an Audit Committee whose members consist of Mario Santos Gregorio, our CEO, and Rizalina Raneses, our CFO, neither of whom are independent.  Further, neither Mr. Gregorio nor Ms. Raneses can be considered an “audit committee financial expert” as defined in Item 401 of Regulation S-K.  Given our size and limited financial ability, we do not anticipate seeking an audit committee financial expert in the near future.

 
48

 
 
The Charter of the Audit Committee of the Board of Directors sets forth the responsibilities of the Audit Committee.  The primary function of the Audit Committee is to oversee and monitor our accounting and reporting processes and the audits of our financial statements.
 
Apart from the Audit Committee, we have no other Board Committees.  Since inception, our Board has conducted its business entirely by consent resolutions.
 
Principal Shareholders and Security Ownership of Certain Beneficial Owners and Management
 
Principal Shareholders
 
Mario Gregorio and Rizalina Raneses are the principal and only shareholders on record for our common stock with a combined interest of 30,000,000 shares of common stock as at June 15, 2010.
 
Security Ownership of Certain Beneficial Owner and Management
 
The following table sets forth, as at May 31, 2010 the total number of shares owned beneficially by each of our director, officers and key employees and the present owner of 5% or more of our total outstanding shares. The shareholders listed below have direct ownership of their shares and possess sole voting and dispositive power with respect to the shares. Except as indicated in the footnotes to these tables, and as affected by applicable community property laws, all persons listed have sole voting and investment power for all shares shown as beneficially owned by them.
 
Title or Class
 
Name and Address of   Beneficial Owner (1)
 
Amount of Beneficial
Ownership (2)
   
Percent of
Class
 
                     
Common Stock
 
Mario Gregorio, CEO (President and Director), 2432 M. Dela Cruz St., Pasay City, Philippines
    20,000,000       67 %
                     
Common Stock
 
Rizalina Raneses, CFO (Secretary and Treasurer), 2479 Ramos Street, Pasay City, Philippines
    10,000,000       33 %
                     
Total
        30,000,000       100 %
 
(1)
Unless otherwise noted, the security ownership disclosed in this table is of record and beneficial.
 
(2)
Under Rule 13-d of the Exchange Act, shares not outstanding but subject to options, warrants, rights, conversion privileges pursuant to which such shares may be acquired in the next 60 days are deemed to be outstanding for the purpose of computing the percentage of outstanding shares owned by the person having such rights, but are not deemed outstanding for the purpose of computing the percentage for such other persons.  None of our officers or director has options, warrants, rights or conversion privileges outstanding.
 
We have no knowledge of any arrangements, including any pledge by any person of our securities, the operation of which may at a subsequent date result in a change in our control.
 
We are not, to the best of our knowledge, directly or indirectly owned or controlled by another corporation or foreign government.

 
49

 

Relationships and Transactions with related persons, promoters and certain control persons
 
Relationships
 
Our executive officers are not related.
 
Transactions with related persons, promoters and certain control persons
 
We have not entered into any transaction involving our officers and directors or any entity controlled by them.
 
To this date, and aside from the following transaction proposed with this share offering, there have been no agreements or transactions with the director/officers, nominees for election as directors, any principal security holders, or any relative or spouse of such named persons. There have been no transactions, or proposed transactions, which have materially affected or will materially affect us in which any director, executive officer, or beneficial holder of more than 10% of the outstanding common stock, or any of their respective relatives, spouses, associates or affiliates has had or will have any direct or material indirect interest, except as follows:
 
As of the date of this prospectus Plandel had issued, to our officers Mario Gregorio and Rizalina Raneses, an aggregate of 30,000,000 common shares all at the price of $0.001 per shares for an aggregate consideration of $30,000.
 
The shares issued to the officers were in consideration of their agreeing to take the initiative in developing and implementing the business plan of the Company, including, among other things, providing the initial seed capital to allow the Company to engage a professional geologist to assist in identifying a mineral prospect considered worthy of exploration thus enabling the Company to implement its business plan
 
No transactions between the Selling Security Holders are known to have occurred.
 
Item 11A.            M aterial changes
 
No material changes have occurred within the Company.
 
Item 12.            Incorporation of Certain Information by Reference
 
Where you can find additional information
 
We are not subject to the informational requirements of the Exchange Act and, accordingly, do not file current and periodic reports, proxy statements and other information with the SEC. We have filed a registration statement on Form S1 under the Securities Act, as amended, in connection with this offering. This prospectus, which is part of the registration statement, does not contain all of the information contained in the registration statement. For further information with respect to us and the shares of common stock offered hereby, reference is made to such registration statement, including the exhibits thereto, which may be read, without charge, and copied at the public reference facilities maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain information on the operation of the public reference room by calling the SEC at 1-800-SEC-0330. The SEC maintains a site on the World Wide Web at http://www.sec.gov that contains current and periodic reports, proxy statements and other information regarding registrants that filed electronically with the SEC. Statements contained in this prospectus as to the intent of any contract or other document referred to are not necessarily complete, and in each instance reference is made to the copy of such contract or other document filed as an exhibit to this registration statement, each such statement being qualified in all respects by such reference.

 
50

 

Item 12A.   Disclosure of Commission Position on Indemnification for Securities Act Liabilities
 
We are incorporated under the laws of the State of Nevada.  Section 78.138 of the Nevada Revised Statutes (“NRS”) provides that neither a director nor an officer of a Nevada corporation can be held personally liable to the corporation, its stockholders or its creditors unless the director or officer committed both a breach of fiduciary duty and such breach was accompanied by intentional misconduct, fraud, or knowing violation of law. Nevada does not exclude breaches of the duty of loyalty or instances where the director has received an improper personal benefit.
 
A Nevada corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding, if he is not liable under NRS 78.138 (see above), acted in “good faith” and in a manner he reasonably believed to be in and not opposed to the best interests of the corporation, and with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. However, with respect to actions by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper. A director or officer who is successful, on the merits or otherwise, in defence of any proceeding subject to the Nevada corporate statutes’ indemnification provisions must be indemnified by the corporation for reasonable expenses incurred in connection therewith, including attorneys’ fees.
 
The Company’s Bylaws provide that the corporation shall, to the maximum extent and in the manner permitted by the NRS, indemnify and hold harmless any and all persons whom it shall have power to indemnify under said provisions from and against any and all liabilities (including expenses) imposed upon or reasonably incurred by him or her in connection with any action, suit or other proceeding in which he or she may be involved or with which he or she may be threatened, or other matters referred to in or covered by said provisions both as to action in his or her official capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a director or officer of the corporation. The Company’s Bylaws do not modify Nevada law in this respect.
 
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and persons controlling us pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
 
We have no liability insurance.

 
51

 

PART II INFORMATION NOT R EQUIRED IN PROSPECTUS
 
Item 13.  Other Expenses of Issuance and Distribution
 
The following table sets forth the costs and expenses payable by us in connection with the issuance and distribution of the securities being registered hereunder.  No expenses will be borne by the Selling Security Holders.  All of the amounts shown are estimates, except for the SEC registration fee.
 
Expense
 
Amount
 
       
SEC filing fees
  $ 2.14  
         
Photocopying and delivery expenses
    1,000.00  
         
Consulting – preparation of Form S-1
    10,000.00  
         
Accountant – financial statement preparation
    1,050.00  
         
Auditors’ examination of financial statements
    2,750.00  
         
Attorney opinion letter
    1,500.00  
         
Estimation
    16,302.14  
 
Item 14.  Indemnification of Director and Officers
 
Under Chapter 78 of Nevada Revised Statutes Law and our Articles of Incorporation, our director will have no personal liability to us or our stockholders for damages incurred as the result of the breach or alleged breach of fiduciary duty as a director of the Company involving any act or omission of any such director.  This provision does not apply to the directors' (i) acts or omissions that involve intentional misconduct, fraud or knowing violation of law, or (ii) approval of an unlawful dividend, distribution, stock repurchase or redemption under Section 78.300 of the Nevada Revised Statutes.  This provision would generally absolve the director of personal liability for negligence in the performance of duties, including gross negligence.
 
The effect of this provision in our Articles of Incorporation, is to eliminate the rights of our Company and our stockholders (through stockholder's derivative suits on behalf of our Company) to recover damages against a director for breach of his fiduciary duties as a director (including breaches resulting from negligent or grossly negligent behavior) except in the situations described in clauses (i) and (ii) above.   This provision does not limit nor eliminate the rights of our Company or any stockholder to seek relief such as an injunction or rescission in the event of a breach of a director's fiduciary duties.  The Chapter 78 of Nevada Revised Statutes grants corporations the right to indemnify their directors, officers, employees and agents in accordance with applicable law.  In addition, our Bylaws authorize the Company to indemnify directors and officers of the Company in cases where such officer or director acted in good faith and in a manner reasonably believed to be in the best interest of the Company, and with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.

 
52

 
 
Item 15. Recent Sales of Unregistered Securities.
 
Since the inception of the Company (March 19, 2010) to the date of this prospectus, the following sales of unregistered securities were completed:
 
On March 31, 2010, the Company sold 20,000,000 shares of common stock at one tenth of a cent ($0.001) to its President and Chief Executive Officer, Mario Gregorio, for a total purchase price of $20,000 in cash.  At the same time, 10,000,000 shares of common stock were sold at one tenth of a cent ($0.001) to its Chief Financial Officer and Secretary, Rizalina Raneses, for a total purchase price of $10,000.
 
Plandel believes that the above sales were exempt from registration upon reliance of Section 4(2) of the Securities Act of 1933 and upon Regulation S promulgated under the Securities Act.  No commissions were paid in connection with the above transactions.
 
Item 16.   Exhibits and Financial Statement Schedules
 
Exhibit No.
 
Description
     
3.1
 
Certificate of Incorporation
     
3.2
 
Articles of Incorporation
     
3.4
 
Bylaws
     
4
 
Specimen Stock Certificate
     
5
 
Opinion re. Legality – Glenn & Glenn
     
10.1
 
Transfer Agent and Registrar Agreement
     
11
 
Statement re: Computation of Per Share Earnings
     
23.1
 
Consent of Madsen & Associates, CPA’s.
     
23.2
 
Consent of Legal Counsel – Glenn  & Glenn (see Exhibit No. 5)
     
23.3
  
Consent of Roberto Noga, Professional Geologist. Geological report by Roberto Noga, P. Geol.
     
99  
Geological Report of Roberto Noga
 
Exhibits can be found at the end of the S-1 Form.
 
Item 17.  Un dertakings
 
Plandel hereby undertakes:
 
(a)
 
 
(1)
File, during any period in which it offers or sells securities, a post-effective amendment to this registration statement to:
 
(i)           Include any prospectus required by section 10 (a) (3) of the Securities Act of 1933;

 
53

 
 
(ii)          Reflect in the prospectus any facts or events which, individually or together, represent a fundamental change in the information in the registration statement, and notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospects filed with the U.S. Securities and Exchange Commission pursuant to Rule 424 (b) if, in the aggregate, the changes in the volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement.
 
(iii)         Include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
 
 
(2)
That, for the purpose of determining any liability under the Securities Act of 1933, treats each post-effective amendment as a new registration statement of the securities offered, and the offering of the securities at that time to be initial bona fide offering.
 
 
(3)
File a post-effective amendment to remove from registration any of the securities that remain unsold at the end of the offering.
 
(4)
For determining liability of the undersigned small business issuer under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned small business issuer undertakes that in a primary offering of securities of the undersigned small business issuer pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned small business issuer will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
 
(i)           Any preliminary prospectus or prospectus of the undersigned small business issuer relating to the offering required to be filed pursuant to Rule 424 (§ 230.424 of this chapter);
 
(ii)          Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned small business issuer or used or referred to by the undersigned small business issuer;
 
(iii)         The portion of any other free writing prospectus relating to the offering containing material information about the undersigned small business issuer or its securities provided by or on behalf of the undersigned small business issuer; and
 
(iv)         Any other communication that is an offer in the offering made by the undersigned small business issuer to the purchaser.
 
(e)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the small business issuer pursuant to the foregoing provisions, or otherwise, the small business issuer has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the small business issuer of expenses incurred or paid by a director, officers or controlling person of the small business issuer in the successful defence of any action, suit or proceedings) is asserted by such director, officer or controlling person in connection with the securities being registered, the small business issuer will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.

 
54

 
 
(g)
For the purpose of determining liability under the Securities Act to any purchaser, each prospectus filed pursuant to Rule 424(b) (§ 230.424(b) of this chapter) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A (§ 230.430A of this chapter), shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

 
55

 
 
Signatures
 
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Pasay of the Republic of the Philippines, on July 8, 2010.
 
PLANDEL RESOURCES, INC.
 
Mario Santos Gregorio
 
Chief Executive Officer, President and Director
 
Power of Attorney
 
Each person whose signature appears below constitutes and appoints each of Mario Gregorio and Rizalina Raneses his or her attorney-in-fact and agent, with the full power of substitution and resubstitution and full power to act without the other, for them in any and all capacities, to sign any and all amendments, including post-effective amendments, and any registration statement relating to the same offering as this registration that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933, as amended, to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.
 
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
 
/s/ Mario Santos Gregorio
 
President and Director
   
         
   
(Principal Executive Officer)
 
July 8, 2010
         
/s/ Rizalina Raneses
 
Secretary and Treasurer
   
         
   
(Principal Financial Officer)
 
July 8, 2010

 
56

 

Exhibit No. 3.1
 
SECRETARY OF STATE
 
(The Great Seal of State of Nevada)
 
CORPORATE CHARTER
 
I, ROSS MILLER, the duly elected and qualified Nevada Secretary of State, do hereby certify that PLANDEL RESOURCES, INC., did on March 19, 2010, file in this office the original Articles of Incorporation; that said Articles of Incorporation are now on file and of record in the office of the Secretary of State of the State of Nevada, and further, that said Articles contain all the provisions required by law of said State of Nevada.
 
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Great Seal of State, at my office on March 22, 2010.
 
(Seal of State of Nevada)
ROSS MILLER
   
 
ROSS MILLER
   
 
Secretary of State
 
Certified by: Nita Hibshman
 
Certificate Number: C20100322-0070
 
You may verify this certificate
 
Online at http://www.nvsos.gov/

 
 

 

Exhibit 3.2 Articles of Incorporation
 
ARTICLES OF INCORPORATION
 
OF
 
PANA-MINERALES S.A.
 
THE UNDERSIGNED, having associated ourselves together for the purpose of forming a corporation for the transaction of business and the promotion and conduct of the objects and purposes hereinafter stated, under the provisions of and subject to the requirements of the laws of the State of Nevada, do make, record and file these Articles of Incorporation, in writing, and we do hereby certify:
 
ARTICLE I
 
NAME
 
The name of this Corporation shall be:   PLANDEL RESOURCES, INC.
 
ARTICLE II
 
PURPOSE
 
The purpose for which said Corporation is formed and the nature of the objects proposed to be transacted and carried on by it is to engage in any and all lawful activity, as provided by the laws of the State of Nevada.
 
ARTICLE III
 
CAPITAL STOCK
 
The total number of all classes of capital stock which the Company shall have authority to issue is 300,000,000 shares (“Capital Stock”). The classes and the aggregate number of shares of each class of Capital Stock that the Company shall have authority to issue are as follows:
 
300,000,000 shares of common stock, $0.001 per value (“Common Stock”):

 
 

 

ARTICLE IV
 
GOVERNING BOARD
 
The members of the Governing Board of the Corporation are styled Directors.  The initial board of directors shall consist of one member.  The number of directors may be changed from time to time by action of the directors of the Corporation in accordance with, and subject to the limitation of the number contained in, the By-Laws of the Corporation.   The names and post office address of the First Board of Directors are as follows:
 
FIRST BOARD OF DIRECTORS
 
Name
 
Address
Mario Santos Gregorio
 
123 W. Nye Lane, Suite 129
   
Carson City, NV 89706
 
ARTICLE V
 
INCORPORATOR
 
The name and address of the incorporator signing these Articles of Incorporation, who is above the age of eighteen (18) years, is as follows:
 
Name
 
Address
Justeene Blankenship
 
7069 S. Highland Dr., Suite 300
   
Salt Lake City, UT 84121
 
ARTICLE VI
 
RESIDENT AGENT
 
The name and address of the Resident Agent is as follows:
 
Name
 
Address
American Corporation Enterprises, Inc.
 
123 W. Nye Lane, Suite 129
Carsten City, NV, 89706
   

ARTICLE VII
 
INDEMNIFICATION
 
No director or officer of the Corporation shall be personally liable to the Corporation or any of its stockholders for damages for breach of fiduciary duty as a director or officer; provided, however, that the foregoing provision shall not eliminate or limit the liability of a director or officer (i) for acts or omissions which involve intentional misconduct, fraud or knowing violation of law, or (ii) the payment of dividends in violation of Section 78.300 of the Nevada Revised Statutes. Any repeal or modification of an Article by the stockholders of the Corporation shall be prospective only, and shall not adversely affect any limitation of the personal liability of a director or officer of the Corporation for acts or omissions prior to such repeal or modification.

 
 

 

ARTICLE VIII
 
ACQUISITION OF CONTROLLING INTEREST
 
The Corporation elects not to be governed by the terms and provisions of Sections 78.378 through 78.3793, inclusive, of the Nevada Revised Statutes, as the same may be amended, superseded, or replaced by any successor section, statute, or provision. No amendment to these Articles of Incorporation, directly or indirectly, by merger or consolidation or otherwise, having the effect of amending or repealing any of the provisions of this paragraph shall apply to or have any effect on any transaction involving acquisition of control by any person or any transaction with an interested stockholder occurring prior to such amendment or repeal.
ARTICLE IX
 
COMBINATIONS WITH INTERESTED STOCKHOLDERS
 
The Corporation elects not to be governed by the terms and provisions of Sections 78.411 through 78.444, inclusive, of the Nevada Revised Statutes, as the same may be amended, superseded, or replaced by any successor section, statute, or provision.
IN WITNESS WHEREOF, I have hereunto subscribed my name this 19 day of March, 2010.
 
 
JUSTEENE BLANKENSHIP
   
 
Justeene Blankenship
 
 
 

 

Exhibit 3.3 – By laws
 
BY LAWS

OF

PLANDEL RESOURCES, INC.

A Nevada Corporation

ARTICLE I

Offices

Section 1.               The registered office of this corporation shall be in the City of Carson City, State of Nevada.

Section 2.               The Corporation may also have offices at such other places both within and without the State of Nevada as the Board of Directors may from time to time determine or the business of the corporation may require.

ARTICLE 2

Meetings of Stockholders

Section 1.               All annual meetings of the stockholders shall be held at the registered office of the corporation or at such other place within or without the State of Nevada as the Directors shall determine. Special meetings of the stockholders may be held at such time and place within or without the State of Nevada as shall be stated in the notice of the meeting, or in a duly executed waiver of notice thereof.

Section 2.               Annual meetings of the stockholders shall be held on the anniversary date of incorporation each year if not a legal holiday and, and if a legal holiday, then on the next secular day following, or at such other time as may be set by the Board of Directors from time to time, at which the stockholders shall elect by vote a Board of Directors and transact such other business as may properly be brought before the meeting.

Section 3.               Special meetings of the stockholders, for any purpose or purposes, unless otherwise prescribed by statute or by the Articles of Incorporation, may be called by the President or the Secretary, by resolution of the Board of Directors or at the request in writing of stockholders owning a majority in amount of the entire capital stock of the corporation issued and outstanding and entitled to vote. Such request shall state the purpose of the proposed meeting.

 
 

 

Section 4.               Notices of meetings shall be in writing and signed by the President or Vice-President or the Secretary or an Assistant Secretary or by such other person or persons as the Directors shall designate. Such notice shall state the purpose or purposes for which the meeting is called and the time and the place, which may be within or without this State, where it is to be held. A copy of such notice shall be either delivered personally to or shall be mailed, postage prepaid, to each stockholder of record entitled to vote at such meeting not less than ten nor more than sixty days before such meeting. If mailed, it shall be directed to a stockholder at his address as it appears upon the records of the corporation and upon such mailing of any such notice, the service thereof shall be complete and the time of the notice shall begin to run from the date upon which such notice is deposited in the mail for transmission to such stockholder. Personal delivery of any such notice to an officer of the corporation or association, or to any member of a partnership shall constitute delivery of such notice to such corporation, association or partnership. In the event of the transfer of stock after delivery of such notice of and prior to the holding of the meeting, it shall not be necessary to deliver or mail such notice of the meeting to the transferee.

Section 5.               Business transactions at any special meeting of stockholders shall be limited to the purpose stated in the notice.

Section 6.               The holders of a majority of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute or by the Articles of Incorporation. If, however, such quorum shall not be present or represented at any meeting of the stockholders, the stockholders entitled to vote thereat, present in person or represented by proxy, shall have power to adjourn the meeting from time to time, without notice other than announcements at the meeting, until a quorum shall be presented or represented. At such adjourned meetings at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified.

Section 7.               When a quorum is present or represented at any meeting, the vote of the holders of 10% of the stock having voting power present in person or represented by proxy shall be sufficient to elect Directors or to decide any question brought before such meeting, unless the question is one upon which by express provision of the statute or of the Articles of Incorporation, a different vote shall govern and control the decision of such question.

Section 8.               Each stockholder of record of the corporation shall be entitled at each meeting of the stockholders to one vote for each share standing in his name on the books of the corporation. Upon the demand of any stockholder, the vote for Directors and the vote upon any question before the meeting shall be by ballot.

Section 9.               At any meeting of the stockholders any stockholder may be represented and vote by a proxy or proxies appointed by an instrument in writing. In the event that any such instrument in writing shall designate two or more persons to act as proxies, a majority of such persons present at the meeting, or, if only one shall be present, then that one shall have and may exercise all the powers conferred by such written instruction upon all of the persons so designated unless the instrument shall otherwise provide. No proxy or power of attorney to vote shall be voted at a meeting of the stockholders unless it shall have been filed with the Secretary of the meeting when required by the inspectors of election. All questions regarding the qualifications of voters, the validity of proxies and the acceptance of or rejection of votes shall be decided by the inspectors of election who shall be appointed by the Board of Directors, or if not so appointed, then by the presiding officer at the meeting.

 
 

 

Section 10.             Any action which may be taken by the vote of the stockholders at a meeting may be taken without a meeting if authorized by the written consent of stockholders holding at least a majority of the voting power, unless the provisions of the statute or the Articles of Incorporation require a greater proportion of voting power to authorize such action in which case such greater proportion of written consents shall be required.

ARTICLE 3

Directors

Section 1.               The business of the corporation shall be managed by its Board of Directors which may exercise all such powers of the corporation and do all such lawful acts and things as are not by statute or by the Articles of Incorporation or by these Bylaws directed or required to be exercised or done by the stockholders.

Section 2.               The number of Directors which shall constitute the whole board shall be riot less than one and not more than eight. The number of Directors may from time to time be increased or decreased to not less than one or more than eight by action of the Board of Directors. The Directors shall be elected at the annual meeting of the stockholders and except as provided in section 2 of this Article, each Director elected shall hold office until his successor is elected and qualified. Directors need not be stockholders.

Section 3.               Vacancies in the Board of Directors including those caused by a decrease in the number of Directors, may be filed by a majority of the remaining Directors, though less than a quorum, or by a sole remaining Director, and each Director so elected shall hold office until his successor is elected at the annual or a special meeting of the stockholders. The holders of a two-thirds of the outstanding shares of stock entitled to vote may at any time peremptorily terminate the term of office of all or any of the Directors by vote at a meeting called for such purpose or by a written statement filed with the Secretary or, in his absence, with any other officer. Such removal shall be effective immediately, even if successors are not elected simultaneously and the vacancies on the Board of Directors resulting therefrom shall only be filled from the stockholders.

A vacancy or vacancies on the Board of Directors shall be deemed to exist in case of death, resignation or removal of any Director, or if the authorized number of Directors be increased, or if the stockholders fail at any annual or special meeting of stockholders at which any Director or Directors are elected to elect the full authorized number of Directors to be voted for at that meeting.
 
The stockholders may elect a Director or Directors at any time to fill any vacancy or vacancies not filled by the Directors. If the Board of Directors accepts the resignation of a Director tendered to take effect at a future time, the Board or the stockholders shall have power to elect a successor to take office when the resignation is to become effective

No reduction of the authorized number of Directors shall have the effect of removing any Director prior to the expiration of his term of office.

 
 

 

ARTICLE 4

Meeting of the Board of Directors

Section 1.               Regular meetings of the Board of Directors shall be held at any place within or without the State which has been designated from time to time by resolution of the Board or by written consent of all members of the Board. In the absence of such designation regular meetings shall be held at the registered office of the corporation. Special meetings of the Board may be held either at a place so designated or at the registered office.

Section 2.               The first meeting of each newly elected Board of Directors shall be held immediately following the adjournment of the meeting of stockholders and at the place thereof. No notice of such meeting shall be necessary to the Directors in order legally to constitute the meeting, provided a quorum be present. In the event such meeting is not so held, the meeting may be held at such time and place as shall be specified in a notice given as hereinafter provided for special meetings of the Board of Directors.

Section 3.               Regular meetings of the Board of Directors may be held without call or notice at such time and at such place as shall from time to time be fixed and determined by the Board of Directors.

Section 4.               Special meetings of the Board of Directors may be called by the Chairman or the President or by the Vice-President or by any two Directors.  Written notice of the time and place of special meetings shall be delivered personally to each Director, or sent to each Director by mail or by other form of written communication, charges prepaid, addressed to him at his address as it is shown upon the records or if not readily ascertainable, at the place in which the meetings of the Directors are regularly held. In case such notice is mailed or telegraphed, it shall be deposited in the postal service or delivered to the telegraph company at least forty-eight (48) hours prior to the time of the holding of the meeting. In case such notice is delivered or taxed, it shall be so delivered or taxed at least twenty-four (24) hours prior to the time of the holding of the meeting. Such mailing, telegraphing, delivery or taxing as above provided shall be due, legal and personal notice of such Director.

Section 5.               Notice of the time and place of holding an adjourned meeting need not be given to the absent Directors if the time and place be fixed at the meeting adjourned.

Section 6.               The transaction of any meeting of the Board of Directors, however called and noticed or wherever held, shall be as valid as though transacted at a meeting duly held after regular call and notice, if a quorum be present, and if, either before or after such meeting, each of the Directors not present signs a written waiver of notice, or a consent of holding such meeting, or approvals of the minutes thereof. All such waivers, consents or approvals shall be filed with the corporate records or made a part of the minutes of the meeting.

Section 7.               The majority of the authorized number of Directors shall be necessary to constitute a quorum for the transaction of business, except to adjourn as hereinafter provided. Every act or decision done or made by a majority of the Directors present at a meeting duly held at which a quorum is present shall be regarded as the act of the Board of Directors, unless a greater number be required by law or by the Articles of Incorporation. Any action of a majority, although not at a regularly called meeting, and the record thereof, if assented to in writing by all of the other members of the Board shall be as valid and effective in all respects as if passed by the Board in regular meeting.

 
 

 

Section 8.               A quorum of the Directors may adjourn any Directors meeting to meet again at stated day and hour; provided, however, that in the absence of a quorum, a majority of the Directors present at any Directors meeting, either regular or special, may adjourn from time to time until the time fixed for the next regular meeting of the Board.

ARTICLE 5

Committees of Directors

Section 1.               The Board of Directors may, by resolution adopted by a majority of the whole Board, designate one or more committees of the Board of Directors, each committee to consist of two or more of the Directors of the corporation which, to the extent provided in the resolution, shall and may exercise the power of the Board of Directors in the management of the business and affairs of the corporation and may have power to authorize the seal of the corporation to be affixed to all papers which may require it. Such committee or committees shall have such name or names as may be determined from time to time by the Board of Directors. The members of any such committee present at any meeting and not disqualified from voting may, whether or not they constitute a quorum, unanimously appoint another member of the Board of Directors to act at the meeting in the place of any absent or disqualified member. At meetings of such committees, a majority of the members or alternate members at any meeting at which there is a quorum shall be the act of the committee.

Section 2.               The committee shall keep regular minutes of their proceedings and report the same to the Board of Directors.

Section 3.               Any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting if a written consent thereto is signed by all members of the Board of Directors or of such committee, as the case may be, and such written consent is filed with the minutes of proceedings of the Board or committee.

ARTICLE 6

Compensation of Directors

Section 1.               The Directors may be paid their expenses of attendance at each meeting of the Board of Directors and may be paid a fixed sum for attendance at each meeting of the Board of Directors or a stated salary as Director. No such payment shall preclude any Director from serving the corporation in any other capacity and receiving compensation therefore. Members of special or standing committees may be allowed like reimbursement and compensation for attending committee meetings.

ARTICLE 7

Notices

Section 1.               Notices to Directors and stockholders shall be in writing and delivered personally or mailed to the Directors or stockholders at their addresses appearing on the books of the corporation. Notices to Directors may also be given by fax and by telegram. Notice by mail, fax or telegram shall be deemed to be given at the time when the same shall be mailed.

 
 

 

Section 2.               Whenever all parties entitled to vote at any meeting, whether of Directors or stockholders, consent, either by a writing on the records of the meeting or filed with the Secretary, or by presence at such meeting or oral consent entered on the minutes, or by taking part in the deliberations at such meeting without objection, the doings of such meeting shall be as valid as if had at a meeting regularly called and noticed, and at such meeting any business may be transacted which is not excepted from the written consent to the consideration of which no objection for want of notice is made at the time, and if any meeting be irregular for want of notice or such consent, provided a quorum was present at such meeting, the proceedings of said meeting may be ratified and approved and rendered likewise valid and the irregularity or defect therein waived by a writing signed by all parties having the right to vote at such meeting; and such consent or approval of stockholders may be by proxy or attorney, but all such proxies and powers of attorney must be in writing.
 
Section 3.               Whenever any notice whatever is required to be given under the provisions of the statute, of the Articles of Incorporation or of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto.

ARTICLE 8

Officers

Section 1.               The officers of the corporation shall be chosen by the Board of Directors and shall be a President, a Secretary and a Treasurer. Any person may hold two or more offices.

Section 2.               The Board of Directors at its first meeting after each annual meeting of stockholders shall choose a Chairman of the Board who shall be a Director, and shall choose a President, a Secretary and a Treasurer, none of whom need be Directors.

Section 3.               The Board of Directors may appoint a Vice-Chairman of the Board, Vice-Presidents and one or more Assistant Secretaries and Assistant Treasurers and such other officers and agents as it shall deem necessary who shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board of Directors.

Section 4.               The salaries and compensation of all officers of the corporation shall be fixed by the Board of Directors.

Section 5.               The officers of the corporation shall hold office at the pleasure of the Board of Directors. Any officer elected or appointed by the Board of Directors may be removed any time by the Board of Directors. Any vacancy occurring in any office of the corporation by death, resignation, removal or otherwise shall be filled by the Board of Directors.

Section 6.               The Chairman of the Board shall preside at meetings of the stockholders and the Board of Directors, and shall see that all orders and resolutions of the Board of Directors are carried into effect.

Section 7.               The Vice-Chairman shall, in the absence or disability of the Chairman of the Board, perform the duties and exercise the powers of the Chairman of the Board and shall perform other such duties as the Board of Directors may from time to time prescribe.

 
 

 

Section 8.               The President shall be the chief executive officer of the corporation and shall have active management of the business of the corporation. He shall execute on behalf of the corporation all instruments requiring such execution except to the extent the signing and execution thereof shall be expressly designated by the Board of Directors to some other officer or agent of the corporation.

Section 9.               The Vice-Presidents shall act under the direction of the President and in absence or disability of the President shall perform the duties and exercise the powers of the President. They shall perform such other duties and have such other powers as the President or the Board of Directors may from time to time prescribe. The Board of Directors may designate
one or more Executive Vice-Presidents or may otherwise specify the order of seniority of the Vice-Presidents. The duties and powers of the President shall descend to the Vice-Presidents in such specified order of seniority.

Section 10.             The Secretary shall act under the direction of the President. Subject to the direction of the President he shall attend all meetings of the Board of Directors and all meetings of the stockholders and record the proceedings. He shall perform like duties for the standing committees when required. He shall give, or cause to be given, notice of all meetings of the stockholders and special meetings of the Board of Directors, and will perform other such duties as may be prescribed by the President or the Board of Directors.

Section 11.             The Assistant Secretaries shall act under the direction of the President. In order of their seniority, unless otherwise determined by the President or the Board of Directors, they shall, in the absence or disability of the Secretary, perform the duties and exercise the powers of the Secretary. They shall perform other such duties and have such other powers as the President and the Board of Directors may from time to time prescribe.

Section 12.             The Treasurer shall act under the direction of the President. Section Subject to the direction of the President he shall have custody of the corporate funds and securities and shall keep full and accurate accounts of receipts and disbursements in books belonging to the corporation and shall deposit all money and other valuable effects in the name and to the credit of the corporation in such depositories as may be designated by the Board of Directors. He shall disburse the funds of the corporation as may be ordered by the President or the Board of Directors, taking proper vouchers for such disbursements, and shall render to the President and the Board of Directors, at its regular meetings, or when the Board of Directors so requires, an account of all his transactions as Treasurer and of the financial condition of the corporation.

                             If required by the Board of Directors, the Treasurer shall give the corporation a bond in such sum and with such surety as shall be satisfactory to the Board of Directors for the faithful performance of the duties of his office and for the restoration to the corporation, in case of his death, resignation, retirement or removal from office, of all books, papers, vouchers, money and other property of whatever kind in his possession or under his control belonging to the corporation.

Section 13.             The Assistant Treasurers in order of their seniority, unless otherwise determined by the President or the Board of Directors, shall, in the absence or disability of the Treasurer, perform the duties and exercise the powers of the Treasurer. They shall perform such other duties and have such other powers as the President or the Board of Directors may from time to time prescribe.

 
 

 

ARTICLE 9

Certificates of Stock

Section 1.               Every stockholder shall be entitled to have a certificate signed by the President or a Vice- President and the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary of the corporation, certifying the number of shares owned by him in the corporation. If the corporation shall be authorized to issue more than one class of stock or more that one series of any class, the designations, preferences and relative, participating, optional or other special rights of the various classes of stock or series thereof and the qualifications, limitations or restrictions of such rights, shall be set forth in full or summarized on the face or back of the certificate which the corporation shall issue to represent such stock.

Section 2.               If a certificate is signed (a) by a transfer agent other than the corporation or its employees or (b) by a registrar other than the corporation or its employees, the signatures of the officers of the corporation may be facsimiles. In case any officer who has signed or whose facsimile signatures have been placed upon a certificate shall cease to be such officer before such certificate is issued, such certificate may be issued with the same effect as though the person had not ceased to be such officer. The seal of the corporation, or a facsimile thereof, may, but need not be, affixed to certificates of stock.

Section 3.               The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the corporation alleged to have been lost or destroyed upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost or destroyed. When authorizing such issue of a new certificate or certificates, the Board of Directors may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and/or give the corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the corporation with respect to the certificate alleged to have been lost or destroyed.

Section 4.               Upon surrender to the corporation or the transfer agent of the corporation of a certificate for shares duty endorsed or accompanied by proper evidence of succession, assignment or authority to transfer, it shall be the duty of the corporation, if it is satisfied that all provisions of the laws and regulations applicable to the corporation regarding transfer and ownership of shares have been compiled with, to issue a new certificate to the person entitled thereto, cancel the old certificate and record the transaction upon its books.
 
Section 5.               The Board of Directors may fix in advance a date not exceeding sixty (60) days nor less than ten (IO) days preceding the date of any meeting of stockholders, or the date of the payment of any dividend, or the date of the allotment of rights, or the date when any change or conversion or exchange of capital stock shall go into effect, or a date in connection with obtaining the consent of stockholders for any purpose, as a record date for the termination of the stockholders entitled to notice of and to vote at any such meeting, and any adjournment thereof, or entitled to receive payment of any such dividend, or to give such consent, and in the such case, such stockholders, and only such stockholders as shall be stockholders of record on the date so fixed, shall be entitled to notice of and to vote as such meeting, or any adjournment thereof, or to receive such payment of dividend, or to receive such allotment of rights, or to exercise such rights, or to give such consent, as the case may be, notwithstanding any transfer of any stock on the books of the corporation after such record date fixed as aforesaid.

Section 6.               The corporation shall be entitled to recognize the person registered on its books as the owner of the share to be the exclusive owner for all purposes including voting and dividends, and the corporation shall not be bound to recognize any equitable or other claims to or interest in such shares or shares on the part of any -other person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Nevada.

 
 

 

ARTICLE 10

General Provisions

Section 1.               Dividends upon the capital stock of the corporation, subject to the provisions of the Articles of Incorporation, if any, may be declared by the Board of Directors at any regular or special meeting, pursuant to law. Dividends may be paid in cash, in property or in shares of the capital stock, subject to the provisions of the Articles of Incorporation.

Section 2.               Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends such sum or sums as the Directors from time to time, in their absolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends or for repairing and maintaining any property of the corporation, or for such other purpose as the Directors shall think conducive to the interests of the corporation, and the Directors may modify or abolish any such reserve in the manner in which it was created.

Section 3.               All checks or demands for money and notes of the corporation shall be signed by such officer or officers or such other person or persons as the Board of Directors may from time to time designate.

Section 4.               The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

Section 5.               The corporation may or may not have a corporate seal, as may be from time to time determined by resolution of the Board of Directors. If a corporate seal is adopted, it shall have inscribed thereon the name of the corporation and the words "Corporate Seal" and "Nevada". The seal may be used by causing it or a facsimile thereof to be impressed or affixed or in any manner reproduced.

ARTICLE 11

Indemnification

Every person who was or is a party or is a threatened to be made a party to or is involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or a person of whom he is the legal representative is or was a Director or officer of the corporation or is or was serving at the request of the corporation or for its benefit as a Director or officer of another corporation, or as its representative in a partnership, joint venture, trust or other enterprise, shall be indemnified and held harmless to the fullest legally permissible under the General Corporation Law of the State of Nevada from time to time against all expenses, liability and loss (including attorney's fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by him in connection therewith. The expenses of officers and Directors incurred in defending a civil or criminal action, suit or proceeding must be paid by the corporation as they are incurred and in advance of the final disposition of the action, suit or proceeding upon receipt of an undertaking by or on behalf of the Director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that he is not entitled to be indemnified by the corporation. Such right of indemnification shall be a contract right which may be enforced in any manner desired by such person. Such right of indemnification shall not be exclusive of any other right which such Directors, officers or representatives may have or hereafter acquire and, without limiting the generality of such statement, they shall be entitled to their respective rights of indemnification under any bylaw, agreement, vote of stockholders, provision of law or otherwise, as well as their rights under this Article.

 
 

 

The Board of Directors may cause the corporation to purchase and maintain insurance on behalf of any person who is or was a Director or officer of the corporation, or is or was serving at the request of the corporation as a Director or officer of another corporation, or as its representative in a partnership, joint venture. trust or other enterprise against any liability asserted against such person and incurred in any such capacity or arising out of such status, whether or not the corporation would have the power to indemnify such person.

The Board of Directors may form time to time adopt further Bylaws with respect to indemnification and amend these and such Bylaws to provide at all times the fullest indemnification permitted by the General Corporation Law of the State of Nevada.

ARTICLE 12

Amendments

Section 1.               The Bylaws may be amended by a majority vote of all the stock issued and outstanding and entitled to vote at any annual or special meeting of the stockholders, provided notice of intention to amend shall have been contained in the notice of the meeting.

Section 2.               The Board of Directors by a majority vote of the whole Board at any meeting may amend these Bylaws, including Bylaws adopted by the stockholders, but the stockholders may from time to time specify particulars of the Bylaws which shall not be amended by the Board of Directors.

APPROVED AND ADOPTED MARCH 22, 2010

CERTIFICATE OF THE SECRETARY

I, Rizalina Gregorio Raneses , hereby certify that I am the Secretary Treasurer of Plandel Resources, Inc. and the foregoing Bylaws, consisting of 11 pages, constitute the code of Bylaws of this company as duly adopted by the Secretary of the corporation on March 22, 2010.

IN WITNESS WHEREOF, I have hereunto subscribed my name on March 22, 2010.

RIZALINA GREGORIO RANESES
 
Rizalina Gregorio Raneses
 

Secretary Treasurer

 
 

 

Exhibit 4 – Specimen Stock Certificate
 
INCORPORATED UNDER THE LAWS OF THE STATE OF
 
NEVADA
 
NUMBER
 
SHARES                   
COMMON STOCK
 
PLANDEL RESOURCES, INC.
 
COMMON STOCK       300,000,000 AUTHORIZED, $.001 PAR VALUE

CUSIP –                                
THIS CERTIFIES THAT
 
is the Owner of
 
Shares of the Capital Stock of
 
PLANDEL RESOURCES, INC.
 
transferable only on the Books of the Corporation by the holder hereof in person or by duly authorized Attorney on surrender of this Certificate properly endorsed.
 
In Witness Whereof the duly authorized officers of this Corporation have hereunto subscribed their names and caused the corporate Seal to be hereunto affixed at                              
 
                                 this                                    day of                                          A.D.                             .                             
 
Plandel Resources, Inc.
 
Mario Gregorio
 
Rizalina Raneses
         
Seal
 
President
 
&                         Secretary
         
Nevada
       
 
Transfer Agent:
 
Holliday Stock Transfer
 
2939 North 67 th Place
 
Scottsdale, Arizona, 85251
 
Shares                                     Each

 
 

 

Exhibit 5        Opinion of Glenn & Glenn
 
Glenn & Glenn
Attorneys at Law
124 Main Street, Suite 8
   New Paltz NY 12561
Telephone 845.256.8035
Fax: 845.255.1814

                                                     June 28, 2010

Plandel Resources, Inc.
2432 M. Dela Cruz
Pasay City, Philippines, 1300

Re.: Registratio n Statement file no. 333-                              

Gentlemen

We have represented Plandel Resources, Inc. (the “Company”) in connection with that certain registration statement on Form S-1 (SEC File No 333-________) which registers the resale of 15,000,000 shares of the Company’s outstanding common stock (the “Outstanding Stock”).

We have examined all instruments, documents and records which we deemed relevant and necessary for the basis of our opinion hereinafter expressed. In such examination, we have assumed the genuineness of all signatures and authenticity of all documents submitted to us as originals and the conformity to the originals of all documents submitted to us as copies. We are opining herein as to the effect on the subject transaction only of the laws of the States of Nevada, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction.
 
Subject to the foregoing, it is our opinion that the Outstanding Stock has been duly authorized by the Company, and is validly issued, fully paid and non-assessable.

We consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm contained under the heading “Legal Matters.”

 
Yours truly
 
Glenn & Glenn Law LLP
   
 
By: D. Roger Glenn

 
 

 

Exhibit 11.           Statement re: Computation of Per Share Earnings
 
Net loss as at May 31, 2010
  $ 22,714  
         
Average number of shares outstanding since inception (i)
    25,068,493  
         
Net loss per share for the period from March 19, 2010 (date of inception) to May 31, 2010
  $ (0.00 )

Plandel Resources, Inc. has no stock options, warrants or rights outstanding as at May 31, 2010.
 
There have been no shares issued between May 31, 2010 and the date of this registration statement.

 
 

 

Exhibit 23.1
 
Consent of independent registered public accounting firm
 
We consent to use, in the Registration Statement on Form S-1 of Plandel Resources, Inc., of our report dated June 18, 2010 on our audits of the balance sheet of Plandel Resources, Inc. at May 31, 2010 and the related statements of operations, stockholders' equity, and cash flows for the period from March 19, 2010 (date of inception) to May 31, 2010.
 
Murray, Utah
 
/s/  “Madsen & Associates, CPA’s Inc.”
     
July 8, 2010
   

 
 

 

Exhibit 23.2
 
Consent of Glenn & Glenn Law LLP
 
See Exhibit 5

 
 

 

Exhibit 23.3
 
ROBERTO NOGA
 
45 Mora Street
 
Mexico, Pampanga, Philippines
 
To:           United States Securities and Exchange Commission
 
I, Roberto Noga, Professional Engineer, do hereby consent to the filing, with the regulatory authorities referred to above, the technical report entitled “Summary of Exploration on the Plandel Property” dated July 10, 2009 (the “Technical Report”), and to the written disclosure in any Offering Memorandum, other offering documents, Form S-1 registration statement, or an Annual Information Form on Plandel Resources, Inc.
 
I hereby consent to the inclusion of my name as an expert in Plandel Resources, Inc. Form S-1 registration statement as filed with your office.
 
I hereby certify that I have read the written disclosure being filed and I do not have any reason to believe that there are any misrepresentations in the information derived from the Technical Report in the written disclosure in this Form S-1 registration statement, other offering documents, or an Annual Information Form on Plandel Resources, Inc.
 
Dated:  July 10, 2009
 
ROBERTO NOGA”
 
   
Roberto Noga
 

 
 

 

Exhibit 99       Geological Report of Roberto Noga
 
SUMMARY OF EXPLORATION
 
ON THE PLANDEL PROPERTY
 
PLANDEL,
 
PHILIPPINES
 
PLANDEL GOLD CLAIM
 
Latitude 14º88'148” North                          Longitude 120º 86' 712” East
 
for
 
Plandel Resources Inc.
 
2432. M. Dela Cruz
 
Pasay City, Philippines
 
by
 
Roberto Noga
 
July 10, 2009

 
 

 

TABLE OF CONTENTS
 
 
SUMMARY
 
3
       
1.     
INTRODUCTION AND TERMS OF REFERENCE
 
4
 
1.1 Disclaimer
 
4
       
2.
PROPERTY DESCRIPTION AND LOCATION
 
5
       
3. 
ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND TOPOGRAPHY
 
5-6
       
4.
HISTORY
 
6
       
5.
GEOLOGICAL SETTING
 
7
 
5.1  REGIONAL GEOLOGY OF THE AREA
 
7
 
5.11 STRATIGRAPHY
 
7
 
5.12 INTRUSIVE
 
7
 
5.13 STRUCTURE
 
8
       
6.
DEPOSIT TYPES
 
8
       
7.
MINERALIZATION
 
9
       
8.
EXPLORATION
 
9
 
8.1 PROPERTY GEOLOGY
 
9
 
 
 

 
 
9.
DRILLING SUMMARY
 
10
       
10.
SAMPLING METHOD; SAMPLE PREPARATION; DATA VERIFICATION
 
10
       
11.
ADJACENT PROPERTIES
 
10
       
12.
INTERPRETATIONS AND CONCLUSIONS
 
10
       
13.   
RECOMMENDATIONS
 
11
 
13.1 BUDGET
 
12
       
14.
STATEMENT OF QUALIFICATIONS
 
13-14
       
15.
APPENDIX I – REFERENCES
 
15
       
16.
APPENDIX II – LOCATION MAPS
 
  
 
 
 

 

SUMMARY
 
Plandel Resources Inc. has purchased a 100% interest in Plandel Gold Claim. The property consists of one – 9 unit claim block containing 98.5 hectares which have been staked and recorded with the Mineral Resources Department of the Ministry of Energy and Mineral Resources of the Government of the Republic of Philippines.
 
Plandel Gold Claim, located about 30 km Northeast of the city of Baliuag, (closest city) lies 30 km Southwest of Baliuag and 25 km Northwest of Apalit, is a gold exploration project, located 25 km South of the past producing Nabo Gold Mine. The claims are accessible by all-weather government-maintained roads to the town of Baliuag (to the Southwest) and to Apalit to the Northwest. Year-round deep sea port facilities at Baliuag and the skilled population base found between Baliuag and Apalit is readily available.
 
The past producing mines yielded 29 million ounces of gold during the years 1915 and 2002.
 
The district is immensely rich in mineral resources. The high elevation forest of the district have concentrations of heavy minerals like Ilmenite, Rutile, Monosite and Zircon which offer scope of exploitation for industrial purpose.
 
A recommended two phased mineral exploration program consisting of air photo interpretation, geological mapping, geochemical soil sampling and geophysical surveying will enhance the targets for diamond drilling. This exploration program to fully evaluate the prospects of the Plandel Gold Mine, at a cost of Php 1,829,500 is fully warranted to be undertaken.

 
 

 

1.
INTRODUCTION
 
In 2009, Plandel Resources Inc. acquired a 100% interest in the Plandel Gold Claim that was staked to cover gold zones within the similar to the Nabo Gold Claim which is located approximately 35 kilometers to the south of the Plandel Gold Claim, produced in excess of 29 million ounces of gold and is currently being reactivated on a limited basis.
 
The claim is located 25 km Northwest of Apalit, 30 km Northeast Baliuag which is the closest city.
 
Previous exploration work to investigate the mineral potential of the property has outlined some favourable areas for continued exploration and development.
 
This report was initiated by the President of Plandel Resources Inc. to summarize the exploration potential of the Plandel Gold Claim and its mineral prospects, to be filed with the appropriate regulatory bodies
 
1.1
Disclaimer
 
In order to write the report, historical and current geological reports of the area and of the property were reviewed. A visit to the area of the property was made in July 6 – 8, 2009 for the purpose of evaluating the exploration potential of the area. The reports by previous qualified persons as presented from a literature search of the Mineral Resources Department of the Ministry of Energy and Mineral Resources of the Government of the Republic of the Philippines in its annual reports, papers, Geological Survey maps and assessment reports provide most of the technical basis for this report.

 
4

 

2.
PROPERTY DESCRIPTION AND LOCATION
 
Plandel Gold Claim project consists of 1 unpatented mineral claim, located 30 kilometers Northwest of the city of Baliuag at UTM co-ordinates Latitude 14º88'148” N and Longitude 120º 86' 712” E. The mineral claim was assigned to Plandel Resources Inc. by Rojas Ventures Ltd and the said assignment was filed with the Mineral Resources Department of the Ministry of Energy and Mineral Resources of the Government of the Republic of the Philippines.
 
There are no known environmental concerns or parks designated for any area contained within the claims. The property has no encumbrances. As advanced exploration proceeds there may be bonding requirements for reclamation.
 
Plandel Resources Inc. has purchased a 100% interest in the property.
 
3.
ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND TOPOGRAPHY
 
Plandel Gold Claim is accessible from Plandel by traveling on the country’s only highway system which for the most part consists of one lane in each direction and by taking an all weather gravel road. Plandel lies in a non-active seismic area, which means that it is free from major earthquakes. The city was formed in the so-called Carbon period, some 350 million years ago. During this period, large shallow marshes were formed with abundant vegetation. The rotting plants and trees in these marshes turned into peat and later into coal. The town still has large coal reserves, the basis for the city’s coal mining industry of today.
 
The Philippines is situated between 5 and 22 degrees North latitude. This means the country falls within the so-called tropical climate zone, a zone characterized by high temperatures the whole year round, relatively high rainfall and lush vegetation. Rainfall on the city can occur in every month, but the wettest months are October, November and December. Annual rainfall is approximately 1.5 meters. Due to the steep, deforested, mountains on average 60 percent of the rainwater runs off fast to the sea. The remaining 40 percent partly evaporates partly seeps through to the island’s underground water aquifier.

 
5

 

Plandel has an experienced work force and will provide all the necessary services needed for an exploration and development operation, including police, hospitals, groceries, fuel, helicopter services, hardware and other necessary items. Drilling companies and assay facilities are present in Baliuag.
 
4.
HISTORY
 
Deposits of shell and eroded sand formed the basis for the limestone, which makes up most of Philippines. This limestone was, over the ages, pushed upwards, making it possible to find today sea fossils high in the country’s mountains. This pushing up continues today. It is caused by the fact that the Philippine Plate, on which most of the country lies, is slowly diving under the Eurasian Plate of the mainland of Asia.
 
Philippines are characterized by steep mountains without any substantial forest cover. Highest peaks reach over 1,000 meters. The island is 300 km long and 35 km wide. High, steep mountains, short distances and lack of forest cover mean that rainwater runs fast to the sea, causing substantial erosion.
 
The island has vast copper, gold and coal reserves which are mined mainly in the central part.
 
Numerous showings of mineralization have been discovered in the area and six prospects have achieved significant production, with the nearby Nabo Gold Mine (25 kilometers away) producing 225,000 ounces of Gold annually.
 
During the 1990’s several properties south of Plandel Gold Claim were drilled by junior mineral exploration companies.
 
Plandel Resources Inc. is preparing to conduct preliminary exploration work on the property.

 
6

 

5.
GEOLOGICAL SETTING
 
5.1
Regional Geology of the Area
 
The hilly terrains and the middle level plain contain crystalline hard rocks such as charnockites, granite gneiss, khondalites, leptynites, metamorphic gneisses with detached occurrences of crystalline limestone, iron ore, quartzo-feldspathic veins and basic intrusives such as dolerites and anorthosites. Coastal zones contain sedimentary limestones, clay, laterites, heavy mineral sands and silica sands. The hill ranges are sporadically capped with laterites and bauxites of residual nature. Gypsum and phosphatic nodules occur as sedimentary veins in rocks of the cretaceous age. Gypsum of secondary replacement occurs in some of the areas adjoining the foot hills of the Western Ghats. Lignite occurs as sedimentary beds of tertiary age. The Black Granite and other hard rocks are amenable for high polish. These granites occur in most of the districts except the coastal area.
 
5.1.1
Stratigraphy
 
The principal bedded rocks for the area of Plandel Gold Claim (and for most of the Philippines for that matter) are Precambrian rocks which are exposed along a wide axial zone of a broad complex.
 
Gold at the Nabo Gold Mine (which, as stated above, is in close proximity to the Plandel Gold Claim) is generally concentrated within extrusive volcanic rocks in the walls of large volcanic caldera.
 
5.1.2
Intrusive
 
In general the volcanoes culminate with effluents of hydrothermal solutions that carry precious metals in the form of naked elements, oxides or sulphides.
 
These hydrothermal solutions intrude into the older rocks as quartz veins. These rocks may be broken due to mechanical and chemical weathering into sand size particles and carried by streams and channels. Gold occurs also in these sands as placers.
 
Recent exploration result for gold occurrence in Plandel, Kalinga is highly encouraging. Gold belt in sheared gneissic rocks is found in three subparallel auriferous load zones where some blocks having 300 to 600 meter length and 2 to 3.5 meter width could be identified as most promising ones.
 
 
7

 

5.1.3
Structure
 
DEPOSITIONAL ENVIRONMENT / GEOLOGICAL SETTING: Veins form in high-grade, dynamothermal metamorphic environment where metasedimentary belts are invaded by igneous rocks.
 
HOST/ASSOCIATED ROCK TYPES: Hosted by paragneisses, quartzites, clinopyroxenites, wollastonite-rich rocks, pegmatites. Other associated rocks are charnockites, granitic and intermediate intrusive rocks, quartz-mica schists, granulites, aplites, marbles, amphibolites, magnetite-graphite iron formations and anorthosites.
 
TECTONIC SETTING(S): Katazone (relatively deep, high-grade metamorphic environments associated with igneous activity; conditions that are common in the shield areas).
 
DEPOSITIONAL ENVIRONMENT / GEOLOGICAL SETTING: Veins form in high-grade, dynamothermal metamorphic environment where metasedimentary belts are invaded by igneous rocks.
 
6.
DEPOSIT TYPES
 
Deposits are from a few millimeters to over a metre thick in places. Individual veins display a variety of forms, including saddle-, pod- or lens-shaped, tabular or irregular bodies; frequently forming anastomosing or stockwork patterns
 
 
8

 

Mineralization is located within a large fractured block created where prominent northwest-striking shears intersect the norths triking caldera fault zone. The major lodes cover an area of 4 km and are mostly within 600m of the surface. Lodes occur in three main structural settings:
 
(i)
steeply dipping northweststriking shears;
 
(ii)
flatdipping (1040) fractures (flatmakes); and
 
(iii)
shatter blocks between shears.
 
Most of the gold occurs in tellurides and there are also significant quantities of gold in pyrite.
 
7.
MINERALIZATION
 
No mineralization has been reported for the area of the property but structures and shear zones affiliated with mineralization on adjacent properties pass through it.
 
8.
EXPLORATION
 
Previous exploration work has not to the author’s knowledge included any attempt to drill the structure on Plandel Gold Claim. Records indicate that no detailed exploration has been completed on the property.
 
8.1
Property Geology
 
To the south of the property is intrusives consisting of rocks such as tonalite, monzonite, and gabbro while the property itself is underlain by sediments and volcanics. The intrusives also consist of a large mass of granodiorite towards the western most point of the property.
 
The area consists of interlayered chert, argillite and massive andesitic to basaltic volcanics. The volcanics are hornfelsed, commonly contain minor pyrite, pyrrhotite.

 
9

 

9.
DRILLING SUMMARY
 
No drilling is reported on the Plandel Gold Claim.
 
10.
SAMPLING METHOD; SAMPLE PREPARATION; DATA VERIFICATION
 
All the exploration conducted to date has been conducted according to generally accepted exploration procedures with methods and preparation that are consistent with generally accepted exploration practices. No opinion as to the quality of the samples taken can be presented.
 
No other procedures of quality control were employed and no opinion on their lack is expressed.
 
11.
ADJACENT PROPERTIES
 
The adjacent properties are cited as examples of the type of deposit that has been discovered in the area and are not major facets to this report.
 
12.
INTERPRETATIONS AND CONCLUSIONS
 
The area is well known for numerous productive mineral occurrences including the Nabo Gold Claim.
 
The locale of the Plandel Gold Claim is underlain by the units of the Precambrian rocks that are found at those mineral occurrence sites.
 
These rocks consisting of cherts and argillites (sediments) and andesitic to basaltic volcanic have been intruded by granodiorite. Structures and mineralization probably related to this intrusion are found throughout the region and occur on the claim. They are associated with all the major mineral occurrences and deposits in the area.

 
10

 

Mineralization found on the claim is consistent with that found associated with zones of extensive mineralization. Past work however has been limited and sporadic and has not tested the potential of the property.
 
Potential for significant amounts of mineralization to be found exists on the property and it merits intensive exploration.
 
13.
RECOMMENDATIONS
 
A two phased exploration program to further delineate the mineralized system currently recognized on Plandel Gold Claim is recommended.
 
The program would consist of air photo interpretation of the structures, geological mapping, both regionally and detailed on the area of the main showings, geophysical survey using both magnetic and electromagnetic instrumentation in detail over the area of the showings and in a regional reconnaissance survey and geochemical soil sample surveying regionally to identify other areas on the claim that are mineralized and in detail on the known areas of mineralization. The effort of this exploration work is to define and enable interpretation of a follow-up diamond drill program, so that the known mineralization and the whole property can be thoroughly evaluated with the most up to date exploration techniques.

 
11

 

13.1
Budget
 
The proposed budget for the recommended work in Php 1,829,500 is as follows:
 
Phase I
 
1. Geological Mapping
  Php 315,000  
         
2. Geophysical Surveying
  Php 276,000  
         
TOTAL PHASE I
  Php 591,000  

Phase II
 
1. Geochemical surveying and surface sampling
  Php 1,238,500  
(includes sample collection and essaying)
       
         
TOTAL PHASE II
  Php 1,238,500  
         
GRAND TOTAL EXPLORATION
  Php 1,829,500  

 
12

 

14.
STATEMENT OF QUALIFICATIONS
 
I, ROBERTO NOGA, of 45 Mora Street, Mexico, Panpamga, Philippines hereby certify that:
 
1.             I am a graduate of the University of The Philippines, Manila, Philippines with a Bachelor of Science degree in Geology (1978) and a Masters of Science (1982) from the same University;
 
2.             I have worked as Geologist for over 30 years;
 
3.             I have worked as a Geological Consultant for companies in the Philippines such as Legaspi Resources, Villeyo Explorations, and Leogarndo Resources and have consulted for several other companies around the world writing reports for their use and am therefore qualified to write this report and recommend the proposed exploration program and budget in this report;
 
4.             I am a member of the Geological Society of Philippines.
 
5.             I visited the property from July 6 th to 8 th , 2009. During this visit, I was able to interview field party personnel who were working throughout the property.
 
6.             I am responsible for this report and the opinions expressed therein including the information in the Appendices which are affixed to this report and are a part of it, and referred to in the report but contain more "field work" type detail and specifications of the analysis.
 
7.             There are no material facts or material changes in the subject matter of this report that would mislead the reader.
 
8.             I have no interest, direct or indirect, in the properties or shares of Plandel Resources Inc, nor do I expect to receive any.
 
9.             I have no prior involvement with this property and have read Instrument and Form 43-101 F1 and this technical report has been prepared in compliance with this instrument and Form 43-101 F1.

 
13

 

10.           I hereby grant my permission for Plandel Resources Inc. to use this report for any corporate use normal to the business of the Company.
 
Dated at Manila, Philippines this 10 th day of July, 2009.
 
Roberto Noga

 
14

 

APPENDIX I
 
REFERENCES
 
 
·
Corby, Grant W., et al GEOLOGY AND OIL POSSIBILITIES OF THE PHILIPPINES
 
 
·
Garrison, R. E., et.al. / PETROLOGY, SEDIMENTOLOGY, AND DIAGENESIS OF HEMIPELAGIC LIMESTONE AND TUFFACEOUS TUBIDITES IN THE AKSITERO FORMATION, CENTRAL LUZON, PHILIPPINES
 
 
·
Mining Bureau Gold in the Philippines
 
 
·
By James W. Boyd Fundamentals of Coal and Mineral Valuations
 
 
·
Ricardo Carrere (WRM International Coordinator) MINING Social and Environmental Impacts

 
·
Presidential Decrees on Mining, with Implementing Regulations, Special Laws, and other Materials. Manila, Philippines

 
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