Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : PolyMet Mining Corp POM.V (was Fleck Resources) -- Ignore unavailable to you. Want to Upgrade?

To: Chuca Marsh who wrote (685)	8/18/1999 6:19:00 PM
From: GWalker	Read Replies (1) \| Respond to of 708

PolyMet Optimizes Pressure Oxidation for its NorthMet Project GOLDEN, Colo., Aug. 18 /PRNewswire/ -- POLYMET MINING CORP. (Vancouver: POM - news) has finished the optimization testing phase of the pressure oxidation (POX) process on a bench-scale, using bulk concentrate from its NorthMet polymetallic deposit in northeastern Minnesota. The optimization test work was recently completed at Lakefield Research laboratories (Ontario). The tests resulted in 0.5-1.5% higher process recoveries than those previously reported for platinum, palladium, copper, and nickel. Also, there are further savings indicated in both capital and operating costs. The overall recovery for nickel in the news release dated August 10, 1999 should have read 71.4% nickel rather than 73.0% nickel. Therefore, the approximate overall recovery from a tonne of mineralized material is US $15.80/tonne rather than $15.90/tonne, using the metal prices stated in the August 10, 1999 news release. Using LME closing prices of yesterday and the recoveries reported on August 10, 1999, the overall recovery from mineralized material is estimated to be US $18.15/tonne, as compared to $15.80/tonne. PolyMet plans to further refine the optimized POX process during continuous mini-pilot plant testing scheduled to start in December 1999 or January 2000. Results of the pilot plant test work will be incorporated into the pre-feasibility study expected in the first quarter of 2000. Certain statements contained herein are ''forward-looking'' statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. For further information, please contact Leslie Landefeld at the Company headquarters in Golden, Colorado at (877) 233-4831 (toll free). You may also visit the company's web site at www.polymetmining.com.