Polymet Mining Corp (PLM)

[waterfrozen]

Below are the goals of Q2 FY18. They are the same as Q4 FY17. Q3 FY18 is not yet out. Q4 FY18 will be here before we know it and I don't see much changing prior to that. Some draft permits have been issued which is good I guess. 1 entire year and no movement on permit to mine. Its hard to comprehend that the permit to mine application was filed in November of 2016. Nearly 365 days have elapsed and that permit application is still in the "application review" phase. Incredible. Way to go, state of Minnesota.

• Transfer of title to the surface rights over and around the NorthMet mineral rights to PolyMet as part of the authorized land exchange;
• Decision by the state on 401 Water Quality Certification and U.S. Army Corps of Engineers (“USACE”) Final ROD and 404 wetlands permit under Clean Water Act;
• Publication of draft state permits for public comment;
• Decisions on state permit issuances (Permit to Mine, air, water, and dam safety permits);
• Completion of definitive cost estimate and project update following permits;
• Completion of project implementation plan;
• Repayment, restructuring and/or conversion of Glencore loans; and
• Completion of construction finance plan including commitment of debt prior to the issuance of permits, subject to typical conditions precedent such as receipt of key permits.