NEW YORK, NY–(Marketwired – Jul 25, 2013) – PolyMet Mining CFO Douglas Newby spoke with The Wall Street Analyzer’s investor audience about the company’s NorthMet project in Minnesota and recent rights offering. With the $60 million offering, the company is well financed to complete the permitting process and pre-construction engineering necessary to move the project rapidly into the construction phase. PolyMet’s strategic investor, Glencore, provided one-third of the offering while non-strategic investors provided two-thirds. Mr. Newby talked about the advantages of having a US-based project in a strong mining district, the Mesabi Iron Range, which produced most of the iron ore and steel that helped build America. He believes that the sector is near the bottom of the commodity cycle. Mr. Newby also discussed his background and experience along with that of key management, including CEO Jon Cherry who joined the company from Rio Tinto. The company’s main goals are to remain environmentally friendly, create jobs in the US, and garner good returns for their shareholders.
PolyMet Mining Corp (TSX: POM) (NYSE MKT: PLM) is a publicly traded company exclusively focused on developing the NorthMet copper-nickel-precious metals project through its wholly owned subsidiary, PolyMet Mining, Inc. The NorthMet project is located in the established Mesabi Iron Range mining district in northeastern Minnesota.
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