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PolyMet Mining Corp.

PolyMet Mining Corp. 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. The company also owns the former Erie Plant, a large processing facility located approximately six miles from the ore body. The NorthMet project is expected to require approximately two million hours of construction labor, creating approximately 360 long-term jobs, a level of activity that will have a significant multiplier effect in the local economy.

Expert Comments:

Joe Reagor, ROTH Capital Partners (4/23/15)
"On April 21, PolyMet Mining Corp. announced its Q4 financial results and provided an update on the permitting process for NorthMet suggesting additional delays. . .PolyMet also guided to receipt of its Final EIS this summer, which represents a three month delay compared to prior guidance of "Early Spring.". . .despite a six month push back in our start-up estimate to fiscal Q1 2019, we are maintaining our $2.00 price target and Buy rating. . .we still believe that calendar 2015 will be a pivotal year for PolyMet as the company is on track to have all permits by year-end."

Tom Meyer, CIBC World Markets (4/23/15)
"PolyMet Mining Corp. released its Q4/15 financial results and provided an update on its plans for calendar year 2015. In our view, the company is well funded to continue to progress its flagship NorthMet project. . .we assume commercial production commencing in Q1/18. . .we believe PolyMet's shares should trade at a premium to peers given the attractiveness of the project and nearness to permits (late 2015) and construction (Q1/16). The management team has significant experience permitting in the U.S. and strong shareholder backing."

Chris Krueger, Lake Street Capital Markets (4/22/15)
"PolyMet Mining Corp. reported Q4/15 results that met expectations. The company continues to work through the pre-revenue permitting process, which we believe could be coming to a positive conclusion in the coming months. . .we rate PolyMet a Buy with a $2.50 target."

Resource Investing News Interview with Chris Krueger (2/16/15)
"It appears that PolyMet Mining Corp.'s final environmental impact statement will finally be published in the coming months. . .after this occurs, permitting should occur in the following six months. . .NorthMet could be a game changer for the Duluth complex and for the company. . .PolyMet's management team has improved in recent years, and I think it will be successful."

Tom Meyer, CIBC World Markets (2/3/15)
"Before market hours on Feb. 2, PolyMet Mining Corp. announced that it has secured a $30M loan facility at LIBOR (U.S. dollars, 12 month) plus 8% from its key shareholder Glencore International Plc.; although expected, we view the announcement as a positive development for the company. The loan covers PolyMet's anticipated costs through 2015 as it works through completion of the final environmental impact statement and subsequent issuance of permits needed to construct and operate the NorthMet Cu-Ni-PGM project."

Joe Reagor, ROTH Capital Partners (2/2/15)
"PolyMet Mining Corp. announced that it had secured $30M debt financing to cover near-term capital needs. We believe this should alleviate investor concerns over potential near-term equity financings. . .Glencore International Plc will provide $30M in four tranches during 2015 to help PolyMet fund near-term capital needs as the company works toward completing permitting and financing."

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Investing Highlights
 
Loan facility up to US$30 million to close early 2015
 
Received the EPA's highest rating given to a mine EIS
 
Dept. of Natural Resources expects final EIS completion in Spring 2015
PolyMet Mining Corp. Content