POLYMET MINING, INC. - DUNKA ROAD METALLURGICAL SAMPLES READY
FOR CONCENTRATE PRODUCTION
VANCOUVER, BRITISH COLUMBIA--
"Approximately 75,000 pounds of mineralized material from the
metallurgical drilling program at the Dunka Road Project has been
shipped to Lakefield Research Laboratories in Brampton, Ontario.
The production of a bulk sulfide concentrate will begin the week
of December 13, 1998. The anticipated one plus ton of concentrate
should be produced by year's end. This concentrate will then be
subjected to various bio-leaching, pressure oxidation leaching,
and other hydrometallurgical tests.
The Company further announces that is not proceeding with the
1,000,000 Unit private placement announced in its News Release of
October 6, 1998 (Press Release 98-15).
The Company has granted incentive stock options to an employee in
respect to 10,000 shares, exercisable at $0.75 per share, for a
period of two and a half years, subject to regulatory approval."
Talked to IR last week and was told that due to drilling delays, they missed a cycle at Lakefield so their run got pushed back to now.
That PP was to be at $1, so I bet they're having a hard time selling it with the stock 20+% lower.
Pete
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