Screw it, double down man.
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Think so. No contact anymore. Think derik to the money and ran.
News from the San Fran study and arbitration will give this a nice lift.
Good article, interesting analysis. Should be an exciting next month and a half.
Hmmm, bottoms up!
Not long until the litigation is finalized.
Taking a short position?
Having followed this for 10 years and accumulating shares for 8, February is a huge month. We shall see how anti development this state is or a changing tide towards production.
Clean Coal Technologies, Inc. Signs Binding Term Sheet to License Technology in Wyoming and Form a Joint Venture
NEW YORK, NY--(Marketwired - September 03, 2015) - Clean Coal Technologies, Inc., (OTC PINK: CCTC) ("CCTI" or the "Company"), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel, today announced that they have signed a binding term sheet to license their Pristine "M" Technology to the Diamond Energy Group, LLC, a newly formed consortium of coal technology and engineering expertise. Under the terms of the Agreement the Diamond Energy Group has a six month option to license the Pristine M Technology for a designated site in Wyoming. The terms of the transaction include CCTI receiving a license fee of $1,000,000 per one million tons of capacity and a royalty of $1.50 per ton. The option is exercisable six months following the commercialization of CCTI's Pristine "M" technology.
Diamond Energy will also be granted an exclusive license to develop and deploy the CCTI Technology throughout Wyoming and Montana in a joint venture with CCTI whereby license fees and royalties are split 50%-50%. In return for the option and in addition to the license fees and royalties, Diamond Energy shall make three payments to CCTI under an additional structured note that is being finalized. The financial highlights include a $250,000 payable on or before September 15, 2015, $250,000 on or before October 15, 2015, and $800,000 on or before November 15, 2015. These funds shall be for the exclusive purpose of retiring the remaining convertible notes and as such a major step towards further cleaning up CCTI's balance sheet.
"We are receiving a substantial amount of interest from the Powder River Basin and have recently signed two more NDA's with strong groups looking to capitalize on the successful commissioning of our technology. Signing this term sheet with a group that has considerable exposure to the coal industry and political systems throughout Montana and Wyoming will help to accelerate our roll out in the region. CCTI has attracted interest and investments from around the world and we are very excited to have finally signed a domestic agreement that will complement the testing of our technology at AES that is focused on PRB coal. We remain firmly commited to the coal industry in the United States and we believe that this transaction will provide CCTI an opportunity to commercially demonstrate the effectiveness of our technology and the first step to providing assistance to the coal industry across the US and globally. As the interest from multiple parties in the region gathers momentum we can see a clear path to commercialization based upon the results of the testing at AES. This is another major step forward for our company and we are looking forward to a successful relationship with the consortium," said Robin Eves, CEO and President of CCTI.
About Clean Coal Technologies, Inc.
Clean Coal Technologies, Inc., a cleaner-energy technology company with headquarters in New York City, NY, holds patented process technology and other intellectual property that converts raw coal into a cleaner burning fuel. The Company's trademarked end products, "Pristine(tm)" coals, are significantly more efficient, less polluting, more cost-effective, and provide more heat than untreated coal. The principal elements of the Company's pre-combustion technology are based on well-proven science and tried-and-tested industrial components. The Company's clean coal technology may reduce some 90% of chemical pollutants from coal, including Sulfur and Mercury, thereby resolving emissions issues affecting coal-fired power plants. For more information about Clean Coal Technologies please visit: www.cleancoaltechnologiesinc.com
Forward-Looking Statements
This release may include forward-looking statements related to CCTI's plans, beliefs and goals, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include, but are not limited to, statements about CCTI's plans, objectives, expectations and intentions with respect to future operations, its products, its ability to secure financing for its operations, the impact on the industry and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," and other words of similar meaning or the use of future dates. Additional details about CCTI's business and its operations that could affect CCTI's actual results are described in CCTI's filings with the Securities and Exchange Commission, including the "Risk Factors" that are part of its most recent annual report on Form 10-K for the year ended December 31, 2014 and in each of its subsequently filed periodic reports. All forward-looking statements in this release speak only as of the date of this news release. CCTI undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Company email...
You may see news stories about a report that was submitted to state and federal regulators late in the environmental review process that claims that groundwater will eventually flow north from the PolyMet mine site to the Boundary Waters, presumably harming those waters.
The report was prepared by John Coleman, an anti-mining activist who works for the Great Lakes Indian Fish and Wildlife Commission.
Water from the NorthMet project will never cause harm to the Boundary Waters or any other watershed.
The comprehensive and thorough state and federal environmental review now nearing completion, demonstrates our copper-nickel project meets applicable environmental standards.
The agencies have appropriately evaluated all concerns submitted to them from the public, including the one from Mr. Coleman. There have been no miscalculations, fundamental or otherwise in the Environmental Impact Statement.
The claims and efforts to discredit the model in the draft EIS are purely an attempt to create doubt in the process. Mr. Coleman admits in his own words through a letter to the co-lead agencies that he is not a ground water modeling expert. And he has challenged unsuccessfully ground water models at the Eagle Mine in Michigan and the Flambeau Mine in Wisconsin in attempts to stop them from being developed.
As always, if you have any questions or concerns about the project, please call our community information line at 218.471.2174 or email us at info@polymetmining.com.
CEL-SCI is now knocking at the door of the HPV – HIV/AIDS peri- anal warts treatment market
Enter CEL-SCI and the burgeoning market for the millions of men and women afflicted and suffering with the oral and genital manifestations of the HPV virus. Incredibly every day in the US alone, about 12,000 people ages 15 to 24 are infected with HPV.
New studies are now underway using CEL-SCI’s Multikine® as a treatment
·In February 2014, CEL-SCI announced the start of a Phase I study at the U.S. Naval Medical Center San Diego using the immunotherapy Multikine® (Leukocyte Interleukin, Injection) in HIV/HPV co-infected men and women with peri-anal warts. Dr. John Malone, Principle Investigator for the study, stated that “the immunologic agent Multikine® has potential to improve the clinical treatment of HPV lesions that are associated with cancer.”
·On July 20, 2015 CEL-SCI announced that it has added a second clinical site at the University of California San Francisco [UCSF] for its Phase I clinical trial evaluating peri-anal wart immunotherapy in HIV/HPV co-infected men and women with its investigational cancer immunotherapy Multikine®. Distinguished key opinion leader, Dr. Joel Palefsky** will serve as Principal Investigator at the site.
[Noteworthy is that CEL-SCI is also well underway with the world's largest Phase III study in head and neck cancer, underway at 87 clinical sites in 24 countries on three continents. The study was undertaken by CEL-SCI, with patient enrolment at 521 as of July 31, 2015 after new record patient enrollment of 33 in July. A total of 880 patients are expected to be enrolled, through approximately 100 clinical centers in about 25 countries by the end of March 2016.]
As I mentioned in my recent ON THE MARKET report on CEL-SCI:
“Can you imagine the degree of hard-eyed, in depth analysis that Dr. Palesky conducted before choosing CEL-SCI’s Multikine® to treat ‘this / his’ patient cohort in the just announced clinical trial? Obviously, he must have a ‘strong’ belief in the science surrounding Multikine® and have a really unwavering confidence that it will have good chance of bearing successful results with this group of patients. And likely he believes that he has the wherewithal to drive CEL-SCI’s Multikine® immunotherapy treatment solution to full enrolment in the trial. Finally it is highly unlikely, IMO, that Dr. Joel Palefsky would associate himself with a company about which he had any concerns or doubts.”
On reflection re my prior hypothesizing, let me add: I believe that it would be safe to say that, not only did Dr. Palefsky perform substantial due diligence on CEL-SCI, but that UCSF must have done plenty themselves prior to choosing CEL-SCI’s Multikine® as a treatment for anal warts in Phase I clinical trials.
For such a distinguished institution as UCSF, located at ground zero of one of the largest HIV and AIDS communities, to affiliate itself with a relatively small drug discovery company like CEL-SCI advocates enormously for the company and its technology. And when you think about it, the AIDS & HIV cohort, especially in San Francisco, is extremely advanced and knowledgeable re the disease and all its manifestations and treatments. Add in their substantial political clout that rings throughout the AIDS community and its institutional environs.
Evaluating the HPV complications and where opportunities lie for CEL-SCI
The incidence of the HPV infection and the subsequent genital warts manifestation is high in the general population, with approximately one million new cases annually and the incidence of genital warts increasing every year.The HPV subtypes 6 and 11 are the cause of over 90% of the exophytic anal warts.
Genital warts also have significant treatment costs. Depending on the extent and responsiveness of the warts to therapeutic intervention, treatment will require either many weeks of patient-applied therapy, several visits to the doctor's office for physician-applied therapy, or a surgical, electrosurgical, or laser procedure that may require hospitalization and anesthesia. The incubation period for genital warts varies from as little as 3 weeks to 6 to 8 months or more.
Anal HPV infections are more common than cervical HPV infections among HIV-infected women and anal cancer is an emerging cancer in HIV-infected men and women.
Disease progression from benign to malignant in the anal canal
The progression to cancer is much more common in immunosuppressed HIV-positive patients, indicating a significant increased risk of cancer development in this patient population. Undeniably, the realization that HIV leads to increased dysplasia has been in the literature for a quarter century.
The CDC says that each year in the USA about 33,000 new cases of cancer are found in parts of the body where human papillomavirus (HPV) is often found. HPV causes about 26,800 of these cancers. According to the World Health Organization, HPV was a cause of 90% of anal cancers – 40% of cancers of the external genitalia (vulva, vagina, and penis), and as alluded to above it’s the cause of 100% of cervical cancers.
Importantly,HPV is now the leading cause of oropharyngeal cancers, a space where CEL-SCI is well underway with the world’s largest head and neck cancer Phase III study.
A recent analysis from Kaiser-Permanente in California estimated the rate of anal cancer among the HIV-positive population to be 174/100,000 person-years -- and even higher among individuals with lower CD4+ counts -- compared to 2/100,000 person-years among the HIV-negative population. This rate is significantly higher than the rate of cervical cancer before Papanicolaou (PAP) screenings became routinely performed on women (35/100,000). Importantly the prevalence of anal cancer is rising as a consequence of increased longevity due to HAART.
Again, the incidence of anal cancer reported in these studies exceeds the highest reported incidence of cervical cancer anywhere in the world.
Peri-anal cancer treatment
According to The North American AIDS Cohort Collaboration on Research and Design (NA-ACCORD) the standard treatment for invasive anal cancer is a combination of chemotherapy and radiation therapy, which is associated with significant morbidity. The cost of clinician visits, hospitalization, diagnostic testing, drug treatments and therapeutic procedures is in the billions. Regrettably, anorectal surgical procedures are the most common operations performed in HIV-infected homosexual male patients.
In a review of 246 patients over 10-years at Stanford Medical School (Dr. Palefsky participated in this study), it was demonstrated that utilizing high-resolution anoscopy-directed biopsy and destruction with electrocautery of anal lesions, practitioners were able to clear 78% of patients of their high-grade squamous intraepithelial lesions. Notably 74% of their patients were HIV-positive and only 3 patients (1.2%) progressed to anal cancer. Nathan et al also showed that destruction of AIN lesions is quite feasible with a 63% cure rate at one year.
As in all cancers, generally speaking major progress is being made. In the 1980s, the 2-year survival for anal cancer was just 32%, by the mid-1990s it had risen to 54%, and by the end of the millennium it was 76%, which is comparable to that in the HIV-negative population.
Thus we see that the scenario of HPV morphing into oral and genital cancer in HIV and AIDS patients is a mammoth and growing worldwide problem.
Enter CEL-SCI and their investigational cancer immunotherapeutic agentMultikine® (Leukocyte Interleukin, Injection).
First the straightforward reason WHY the US Navy and UCSF are involved
The forthright premise re the use of Multikine® that the US Navy and now UCSF have chosen the drug as a treatment and the reason why they are allocating and spending significant resources in their Phase 1 trials:
The above-mentioned HPV / anal warts condition complicated by HIV / AIDS may well be effectively treated by CEL-SCI’s immunotherapy Multikine®. In immune system compromised patients, where the definition of their disease suggests degradation and depletion of the body’s natural response to disease (i.e. human immunodeficiency virus [HIV] and acquired immune or immuno- deficiency syndrome [AIDS]), the Multikine® investigational immunotherapy is directed at activating and possibly enhancing the body's immune response to help the body in addressing the HIV/AIDS disease complex. The patented Multikine® therapy could build, accelerate and facilitate new immune protection to increase the protective efficacy of the body’s cellular immune response, and accordingly, sustain the immunity with enhanced antibody production and protection.
In the UCSF and the Navy study Multikine® is being given to the HIV/HPV co-infected patients with peri-anal warts because promising early results were seen in another Institutional Review Board approved Multikine® Phase I study conducted at the University of Maryland. In this study, the investigational therapy Multikine® was given to HIV / HPV co-infected women with cervical dysplasia resulting in visual and histological evidence of clearance of lesions. In addition, elimination of a number of HPV strains was determined by in situ polymerase chain reaction [PCR] performed on tissue biopsy collected before and after Multikine® treatment. As reported by the study investigators; the study volunteers all appeared to tolerate the treatment with no reported serious adverse events related to Multikine®.
CEL-SCI believes that the disease indication being pursued by the U.S. Navy and now UCSF may also represent a relatively quick way to generate the necessary clinical data required to submit an application for marketing approval for Multikine®.
To date, CEL-SCI’s immunotherapy Multikine® treatment has completed Phase I and II clinical trials and is now over 50% through a global Phase III trial for advanced primary head and neck cancer.
* And then some
Tying up the HPV/anal/genital warts/HIV-AIDS/cancer interconnection and what it all means to CEL-SCI
Certainly, all bets are off when it comes to predicting results from clinical trials, (and let’s underline that) however - if the UCSF and Navy studies are favorable - more than considerable interest will suddenly manifest and build. Not only will it be hugely important news in the HIV / AIDS community, but the rational for other applications for the Multikine®investigational immunotherapyagent will surge, i.e. tumors and other infectious diseases.
Consider what Dr. Palefsky would mean even as a passive spokesperson (and I think he would be more than that.) The point here is that his affiliation with CEL-SCI’s Multikine®will drive enormous new Pharma interest in CEL-SCI and their immunotherapy treatment that the company would be unable to garner on their own. And keep in mind that results from these studies will be presented well before the data Phase III head and neck cancer study will be available.
I also believe that Dr. Palefsky knows a great-deal about Multikine® and its potential already. Certainly he didn’t commit his energies (and UCSF’s resources) without a vast amount of due diligence.
The mounting enrolments in the head and neck cancer study, the distinguished individuals and eminent institutions and entities involved, the exceptional Phase I results from University of Maryland (that if duplicated or even approximating) suggest a risk / reward metric heavily weighted to reward. With a market cap of only $60 million positive results will explode that number and the share price IMO.
** Dr. Joel Palefsky is a San Francisco-based, University of California [UCSF] physician, researcher, instructor, pioneer and specialist in the field of HIV / Aids and HPV. Doubtless, Dr. Palefsky—who has been at UCSF for over 25 years, and is the Chair of the HPV Working Group of the AIDS Malignancy Consortium [AMC], and is the head of the AMC HPV Virology Core Lab at UCSF as well as director of the UCSF Anal Neoplasia Clinic—knows the field as well as just about anyone. Notably, Dr. Palefsky was recently awarded an $89 million grant from the National Institutes of Health [NIH] where he is Principal Investigator of the ANCHOR study, the NIH-funded study of the efficacy of secondary prevention of anal cancer ongoing at 5 sites, and set to start in 7 other sites in the USA. Dr. Palefsky has published over 280 papers. The AMC is a U.S. National Cancer Institute-supported clinical trials group founded in 1995 to support innovative trials for AIDS-related cancers. Palefsky is the Principal Investigator on several laboratory-based and clinical research studies of HPV-associated neoplasia, particularly in the setting of HIV infection. He also specializes in the molecular biology and development of new treatments for HPV. Dr. Palefsky is the founder and immediate past president of the International Anal Neoplasia Society and is currently president of the International Human Papillomavirus Society. He is actively involved in training students in clinical and translational research. Dr. Palefsky has led the Doris Duke Charitable Foundation program at UCSF since its inception in 2001 and has been the leader of the Clinical Translational Science Awards TL1 program at UCSF since its inception in 2006. Dr. Palefsky has extensive experience in the biology of HPV infection, HPV infection in HIV-positive men and women, HPV vaccines, and in the design and implementation of multiple clinical research trials of HPV-related disease.
People want to buy today.
Unless they are approved to use patients from the first group of participants during the time the other facilitator was running things. The one getting sued for 50 mil.
Any enlistment this month over 30 patients is a positive. At that point they are holding a great average and keeps them ahead of schedule. Obviously we are still awaiting litigation news, and some news about their warts study.
Before the EPA polluted the Animas River, a retired geologist revealed the agency was likely looking for an excuse to build a multi-million dollar water treatment plant in nearby Silverton, Colo.
The geologist, Dave Taylor, wrote a July 30 editorial that predicted the EPA’s plugging plan, which ultimately led to the Aug. 6 spill, would fail and the agency would likely use the failure to seek “superfunding.”
“The ‘grand experiment’ in my opinion will fail,” he wrote. “And guess what [EPA representative] Mr. Hestmark will say then? ‘Gee, Plan A didn’t work so I guess we will have to build a treatment plant at a cost to taxpayers of $100 million to $500 million…'”
Here’s the editorial in full as it appeared in the Silverton Standard & The Miner local newspaper, with thanks to Zero Hedge:
“The letter detailed verbatim, how EPA officials would foul up the Animas River on purpose in order to secure superfund money,” the Gateway Pundit reported. “If the [nearby] Gold King mine was declared a superfund site it would essentially kill future development for the mining industry in the area.”
“The Obama EPA is vehemently opposed to mining and development.”
We need a squeeeeze...
CEL-SCI (NYSE:CVM) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,747,507 shares, an increase of 19.9% from the July 15th total of 1,458,017 shares, Analyst Ratings Network.com reports. Approximately 1.8% of the company’s stock are sold short. Based on an average trading volume of 662,591 shares, the days-to-cover ratio is currently 2.6 days.
Quite the hypocrisy huh. Their statement is " they are confident the estuaries and wetlands will be able to absorb most of the waste."
Hoping to see another record enrollment month and some positive news on the lawsuit.
Dayton: PolyMet will be 'most momentous, difficult and controversial decision' as governor
Minnesota Gov. Mark Dayton announced this week that he plans to visit several mining sites to gain more insight into the debate over the proposed PolyMet copper-nickel mine near Hoyt Lakes.
Dayton said Tuesday that after Labor Day he will visit at least two sites that representatives of each side of the debate think proves their point that the mine should or should not be built.
“I want to see first-hand what the upside could be as well as what the downside could be,” he said. “I've got a lot of questions. ... This will be the most momentous, difficult and controversial decision I'll make as governor.”
The Department of Natural Resources and the other agencies overseeing the project's environmental review hope to issue a final Environmental Impact Statement in early November, followed by a 30-day period in which the public can comment.
“I can assure you that rigor will be applied. ... I'm not going to promise I'm going to read (all 3,000 pages) but I'm going to read the parts that are relevant to the decision, and then the environmental considerations and financial considerations are also a part of it,” Dayton said.
Dayton said Tuesday that he lived through the controversy over the Boundary Waters wilderness and said the fight over PolyMet “could be all that and worse.”
Dayton said that even if the environmental review is deemed adequate, “that means the permitting process starts, it doesn't mean the permits are going to be granted”
PolyMet officials said in a written statement that the company has “spent 10 years and more than $83 million following Minnesota's very stringent environmental review process to demonstrate that we can meet all the standards” and that officials will continue to focus on that process.
The company said it expects more than 1,000 direct and indirect new jobs would be created in an economically stressed area.
PolyMet is proposing Minnesota's first copper-nickel mine, a $600 million open-pit mine near Babbitt with a processing center at the former LTV Steel site north of Hoyt Lakes.
Copper mining skeptics continue to have grave concerns about long-term water treatment at the site, especially acidic mine runoff. Supporters say any runoff can be effectively treated without environmental damage, and they say the project could help diversify the regional economy.
CEL-SCI Corporation Reports Third Quarter Fiscal Year 2015 Financial Results
Source: Business Wire
CEL-SCI Corporation (NYSE MKT: CVM) today reported financial results for the quarter ended June 30, 2015.
Recent key corporate and clinical developments include:
Reported record patient enrollment numbers in April with 31 patients, 26 patients in May and 25 patients in June in the Phase 3 head and neck cancer trial.
A total of five hundred twenty one (521) patients have been enrolled in the Phase 3 study as of July 31, 2015 after new record patient enrollment of 33 in July.
Completed expansion of the Phase 3 trial to 24 countries - received clearance in Spain, Italy, and Thailand.
Added several clinical trial sites for the Phase 3 trial, among them Aintree University Hospital in the UK. This site is headed by Professor Richard Shaw, a leading European head and neck cancer key opinion leader.
Added a second clinical site and key opinion leader to the Phase 1 trial in HIV/HPV co-infected men and women with peri-anal warts. The University of California, San Francisco (UCSF) was added in July and world renowned key opinion leader in HPV and anal cancer, Dr. Joel Palefsky joined as a Principal Investigator.
Continued patient enrollment in the Phase 1 trial in at San Diego Naval Medical Center.
Raised approximately $16 million, prior to deducting placement agent commissions and offering expenses.
“We continued to build momentum in both our Phase 3 and Phase 1 trials for Multikine through the addition of new clinical sites and increased patient enrollment. Multikine offers a different type of therapy in the fight against cancer, leveraging the body's natural immune system in the fight against tumors and other infectious diseases like HPV that can be a precursor to cancer. We are encouraged by the progress in our clinical trials and look forward to a strong second half of 2015,” stated CEL-SCI Chief Executive Officer Geert Kersten.
CEL-SCI's net loss available to common shareholders for the quarter ended June 30, 2015 was ($4,429,137) or ($0.05) per basic share, versus ($2,444,480) or ($0.04) per basic share during the quarter ended June 30, 2014. The net loss available to common shareholders for the nine months ended June 30, 2015 was ($24,830,691) or ($0.32) per basic share, versus ($21,261,925) or ($0.38) per basic share during the same nine months ended June 30, 2014. The increase in net loss for the three and nine month periods of 2015 as compared to the same periods in 2014 was primarily attributable to the increase in operating loss and the non-cash charge for the loss on a debt extinguishment off-set by the gain reported of the non-cash charge for the change in value of derivative instruments caused by a decrease in the Company’s common stock.
CEL-SCI reported an operating loss of ($8,201,475) for the quarter ended June 30, 2015 versus an operating loss of ($6,901,329) for the quarter ended June 30, 2014. The operating loss for the nine months ended June 30, 2015 was ($25,956,559) versus ($19,062,074) during the nine months ended June 30, 2014.
During the nine and three months ended June 30, 2015, the rise in operating loss was attributable to an increase in research and development expenses by approximately $2,956,000 and $1,239,000 compared to the nine and three months ended June 30, 2014. R&D expenses increased primarily because of the increase in patient enrollment of the Company’s Phase 3 clinical study for head and neck cancer.
At investment conference, PolyMet predicts profitability, Buffalo Wild Wings touts experiments
PolyMet Mining Corp.’s proposed copper mine in northern Minnesota, which could open next year as a lengthy permitting process nears completion, would still be profitable amid a recent plunge in metals prices, the company’s financial chief said Wednesday.
Copper prices fell to a six-month low on Monday, weighed down by slowing economic growth in China, the world’s largest consumer of metals, and broader pressure on commodities from coal to corn to gold.
In a presentation at InvestMNt, the annual conference of the CFA Society of Minnesota, PolyMet Chief Financial Officer Douglas Newby said prices for copper are still well above the company’s break-even point.
“If we were in operation today, we would be making money even with the pressure on commodities and metals,” Newby told the audience of analysts and institutional investors.
Each year, several hundred investment professionals gather for the one-day conference, where about 50 of the state’s publicly traded companies, along with a handful from elsewhere, provide updates on their performance. This year, 3M Co. presented for the first time and attendees also had the chance to listen to sessions on public debt.
Though its project to revive a former steel plant and iron mine near Hoyt Lakes has generated headlines for more than a decade, St. Paul-based PolyMet is relatively small among Minnesota’s listed companies, with a market capitalization of $255 million.
For years, it has subsisted on capital from investors led by Glencore, the Swiss mining giant, which has $170 million exposure to the firm in investments and loans. As environmental reviews near an end — the Environmental Protection Agency is expected to give its final approval in November, triggering the state permit issuance process — interest is starting to grow in the company’s financial potential.
Newby said that, while there are many influences on profitability, in general PolyMet needs copper to be priced somewhat over $1 a pound to break even. Even with a drop of about 20 percent in copper prices over the past two months, the metal is still being traded at about $2.30 a pound.
Asked whether the company’s output would put more pressure on copper prices, Newby suggested its production would be too small for that. “I don’t think we’re a day’s worth of annual global consumption,” he said.
The project is one of four copper mines proposed for the Iron Range northwest of Duluth, though it is the only one with a mill and is positioned to help others process copper ore.
Dayton plans tour of mining plants before 'monumental' PolyMet copper-nickel decision
ST. PAUL, Minn. — Gov. Mark Dayton says he intends to visit up to four mining operations after Labor Day as he weighs how his administration will proceed with the proposed PolyMet copper-nickel mine in northeastern Minnesota.
Dayton said Tuesday he potentially travel to two sites around the country suggested by project supporters and two by opponents. The PolyMet Mining Corp. project has been under environmental review for years but is nearing a critical point.
The Democratic governor says he is studying a 3,000-page preliminary environmental impact statement and reviewing financial information for the company involved. He says whether to let the first-of-its-kind Iron Range project advance "will be the most momentous, difficult and consequential decision I'll make as governor."
A state determination on the adequacy of environmental studies is due by February.
He laid off his staff, no response from company.
Best number yet.
Record enrollment!
CEL-SCI Reports Record Monthly Patient Enrollment in July for Its Phase 3 Head and Neck Cancer Trial
VIENNA, Va.--(BUSINESS WIRE)--
CEL-SCI Corporation (NYSE MKT:CVM) ("CEL SCI" or the "Company") today announced that in July it has enrolled 33 patients in its ongoing Phase 3 trial of its investigational immunotherapy Multikine* (Leukocyte Interleukin, Injection) in patients with advanced primary head and neck cancer. This marks a new monthly record. Total study enrollment now stands at 521 patients as of July 31, 2015 in the world’s largest Phase 3 study in head and neck cancer.
“We continue to deliver record monthly enrollment numbers, which are in line with our expectations and bring us to over 500 patients enrolled in our Phase 3 study as of the end of July,” stated CEL-SCI Chief Executive Officer Geert Kersten.
A total of 880 patients are expected to be enrolled, through approximately 100 clinical centers in over 20 countries.
About the Multikine Phase 3 Study
The Multikine Phase 3 study is enrolling just diagnosed, not yet treated patients with advanced primary squamous cell carcinoma of the head and neck. The objective of the study is to demonstrate a statistically significant improvement in the overall survival of enrolled patients who are treated with the Multikine treatment regimen plus standard of care ("SOC") vs. subjects who are treated with SOC only. Standard of care for these patients consists of the surgical removal of the tumor and any locally involved lymph nodes, followed by radiotherapy or concurrent radiochemotherapy.
About Multikine
Multikine (Leukocyte Interleukin, Injection) is an investigational immunotherapeutic agent that is being tested in an open-label, randomized, controlled, global pivotal Phase 3 clinical trial as a potential first-line treatment for advanced primary squamous cell carcinoma of the head and neck. Multikine is designed to be a different type of therapy in the fight against cancer: one that appears to have the potential to work with the body's natural immune system in the fight against tumors.
Multikine is also being tested in a Phase 1 study under a Cooperative Research and Development Agreement ("CRADA") with the U.S. Naval Medical Center, San Diego, and at University of California, San Francisco (UCSF), as a potential treatment for peri-anal warts in HIV/HPV co-infected men and women. CEL-SCI has also entered into two co-development agreements with Ergomed Clinical Research Limited to further the development of Multikine for cervical dysplasia/neoplasia in women who are co-infected with HIV and HPV and for peri-anal warts in men and women who are co-infected with HIV and HPV.
About CEL-SCI Corporation
CEL-SCI's work is focused on finding the best way to activate the immune system to fight cancer and infectious diseases. Its lead investigational therapy, Multikine (Leukocyte Interleukin, Injection), is currently being studied in a pivotal Phase 3 clinical trial as a potential neoadjuvant treatment for patients with squamous cell carcinoma of the head and neck. If the study endpoint, which is a 10% improvement in overall survival of the subjects treated with the Multikine treatment regimen plus the current SOC as compared to subjects treated with the current SOC only, is satisfied, the study results will be used to support applications that the Company plans to submit to regulatory agencies in order to seek commercial marketing approvals for Multikine in major markets around the world. Additional clinical indications for Multikine that are being investigated include the treatment of cervical dysplasia in HIV/HPV co-infected women, and the treatment of peri-anal warts in HIV/HPV co-infected men and women. A Phase 1 trial of the former indication has been completed at the University of Maryland. The latter indication is now in a Phase 1 trial in conjunction with the U.S. Naval Medical Center, San Diego, under a CRADA, and at UCSF.
CEL-SCI is also developing its pre-clinical L.E.A.P.S. (Ligand Epitope Antigen Presentation System) technology for the potential treatment of pandemic influenza in hospitalized patients and as a potential vaccine for the treatment of rheumatoid arthritis.
The Company has operations in Vienna, Virginia, and in/near Baltimore, Maryland.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "intends," "believes," "anticipated," "plans" and "expects," and similar expressions, are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation's filings with the Securities and Exchange Commission, including but not limited to its report on Form 10-K and 10-K/A for the year ended September 30, 2014. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
*Multikine is the trademark that CEL-SCI has registered for this investigational therapy, and this proprietary name is subject to FDA review in connection with the Company's future anticipated regulatory submission for approval. Multikine has not been licensed or approved for sale, barter or exchange by the FDA or any other regulatory agency. Similarly, its safety or efficacy have not been established for any use. Moreover, no definitive conclusions can be drawn from the early-phase, clinical-trials data involving the investigational therapy Multikine (Leukocyte Interleukin, Injection). Further research is required, and early-phase clinical trial results must be confirmed in the Phase 3 clinical trial of this investigational therapy that is currently in progress.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150803005589/en/
Anything over 30 I'm happy with.
July numbers coming.
PolyMet expands copper search to Pine County
PolyMet Mining Corp. is looking at potential copper deposits in Pine City Township in Pine County, the first serious interest in what would be a new area of exploratory drilling.
The company confirmed Friday it has had discussions with Pine City Township officials on permits needed to drill on private land for core samples that might divulge exactly where and how much copper is buried underground.
Pine City Township, about 75 miles south of Duluth and 60 miles north of St. Paul, runs south and east of Pine City — south of the Snake River and roughy between Interstate 35 and the St. Croix River.
The area has been suspected of holding copper since the 1880s, according to geology books. Some companies, including Kennecott Metals, have done above-ground exploration in Pine County over the past decade. But there’s been little or no physical prospecting in this area before.
PolyMet spokesman Bruce Richardson confirmed Friday that the company has had discussions with Pine City Township Zoning Administrator Gordon Johnson about what type of township notice and permits would be necessary to drill test borings on private land.
Johnson told the Pine City Pioneer newspaper that PolyMet wanted to begin drilling at least three bore holes in coming weeks.
Richardson would not confirm details on exactly where or when that drilling might occur.
“We’re not going to talk about the specifics of what we are doing in terms of exploration.
But this is coming out of a conversation we had with Pine County officials to see what permitting or processing we need to go through. It was really just informational,’’ Richardson told the News Tribune.
The company appears not to need any special permits other than permission from landowners. Before any actual test drilling occurs, Richardson noted PolyMet would have to notify both the Minnesota Department of Natural Resources and Minnesota Department of Health. The company has not yet done that. A DNR mining official did not immediately return a request to comment on the situation.
It’s PolyMet’s first search outside its established NorthMet area near Hoyt Lakes, a project in the works for more than a decade and potentially within a year of being permitted for operation as Minnesota’s first-ever copper-nickel mine.
“Our focus still is on getting through the permits and (Environmental Impact Study) completed for NorthMet. But, naturally, as a mining company, we’re interested in other opportunities for bringing metals to market and (improving) long-term shareholder value,’’ Richardson said.
It would take years of test drilling perhaps hundreds of holes, and years more of engineering and environmental review and permitting, before any actual mining could occur, and only then if geologists find a large enough deposit that’s economical to dig out of the ground.
The Pine County interest follows two other major areas of copper exploration in the state.
First it was the Duluth Complex of rock, mostly north and east of the Iron Range and south of the Boundary Waters, where copper mining companies looked for and found huge deposits of copper, nickel and other valuable metals.
In addition to PolyMet, Twin Metals Minnesota, Teck, Encampment, Beaver Bay and other companies continue to prospect for specific copper deposits and other minerals in the Duluth Complex near the traditional Iron Range.
Then it was Aitkin and western Carlton counties that showed promising results as companies bored holes and checked the core samples where they found copper in reportedly large amounts.
West of Duluth., Rio Tinto’s Kennecott division, in a relationship with Talon Metals, is honing in on a copper mine project near the tiny town of Tamarack near the Aitkin-Carlton county line. Active test sample drilling has continued in that area this year where the state owns mineral rights.
Glencore ups ante in Polymet copper mine
PolyMet Mining will get more time to pay off part of its debt in a deal that will see Swiss commodities giant Glencore assume more than one-third of all PolyMet stock.
Under the deal announced Friday, PolyMet will extend a deadline to repay nearly $35 million in debt and interest to Glencore from a Sept. 30 deadline to March 31, 2016, or whenever PolyMet receives permits to build its proposed copper mine — whichever comes first.
Polymet, which has been in the effort to open Minnesota’s first copper-nickel mine for more than a decade, the company’s only project, has been living off credit from Glencore and other investors as the process moves forward.
Glencore currently has 28.5 percent ownership which is 78.7 million shares. When they convert and exercise their warrants under the new deal, then they would have 113.3 million shares totaling 36.4 percent ownership in PolyMet, Bruce Richardson, PolyMet spokesman, said Friday.
Glencoe, which has been criticized by environmental and worker rights groups for activities in developing nations, first began investing in PolyMet in 2008.
As both the state and federal environmental review of the mining project wind down by the end of 2015, PolyMet officials hope to secure permits to open and build the mine and processing center outside Hoyt Lakes sometime early in 2016 — assuming the review is considered adequate and PolyMet can meet the terms of those permits, including financial security requirements.
“Extending the maturity date to the earlier of permits and construction finance or March 31, 2016’’ fits with the Minnesota Department of Natural Resources prediction that it will have a decision on the environmental review by then, said Jon Cherry, PolyMet CEO, in announcing the debt restructuring. The changes “also demonstrate Glencore’s continued support for PolyMet and the NorthMet Project as we progress through completion of the environmental review and permitting into construction and operations.”
PolyMet also will need to raise hundreds of millions of additional dollars to actually build-out the facility — so-called construction finance — in addition to the money it has already borrowed to get this far. So far the money has gone to pay staff as well as develop the extensive and expensive environmental plan and several variations of engineering plans for the mine, utilities, rail service, tailings basin and retooling of the old LTV Mining processing center from a taconite facility to handle copper.
In 2014 Forbes listed Glencore as the world’s 10th largest corporation and the world’s third largest family-held company. It was the largest company in Switzerland and the world’s largest commodities trading company, with a global market share of 60 percent in the internationally tradeable zinc market, 50 percent in the copper market, 9 percent in the international grain market and 3 percent in the international oil market.
PolyMet, a so-called Canadian junior mining company based in Toronto with offices in Minnesota, is working to build its first-ever copper mine at a time when the mining industry is taking a hit from a glut of production and decreased demand, especially Chinese demand. The latest dive in commodities — from ores to oil — is killing metal prices. Gold, silver, copper, iron ore, aluminum, platinum, palladium, tin and nickel have all declined this year, rapidly in recent weeks. Gold recently fell below $1,100 for the first time in five years.
Copper prices on Friday stood at about $2.36 per pound, nearly half its 2011 peak of $4.50 per pound.
“It’s something we obviously watch. But it doesn’t affect how we move forward with the project,’’ Richardson said of the current copper price downturn. “It’s part of the business, the ups and downs. It’s something you build into your business plan. Cycles are a way of life in mining.”
PolyMet stock was trading at about 93 cents per share on Friday, down from a peak of $2.50 per share in 2011 and $4.70 in 2006.
PolyMet plans to build an open-pit mine that would also produce gold, platinum, palladium and other valuable metals with initial processing on site and material shipped to smelters in either Canada or the western U.S. for finishing. The company would employ more than 300 people for more than 20 years, the first non-iron mine in Minnesota history.
Supporters say the project will help diversify the regional economy that’s tied to the currently depressed taconite iron ore industry.
But skeptics say the mine may be environmentally unsafe, with acidic runoff leaching pollutants out of rock and producing byproducts that could damage water quality and wild rice beds. Supporters say the mine’s water treatment technology can prevent ecological damage.
Shorts in control
Any murmurs on new enrollment numbers?
Great political partnership.
Hoping to pick more up in the .76 range
Good news = bad market day
CEL-SCI Expands Its Phase I Study for Treatment of Anal Warts in HIV/HPV Co-Infected Patients with Addition of 2nd Site at University of California San Francisco
VIENNA, Va.--(BUSINESS WIRE)--
CEL-SCI Corporation (NYSE MKT: CVM) (“CEL SCI” or the “Company”) today announced it has added a second clinical site for its Phase I clinical trial evaluating peri-anal wart immunotherapy in HIV/HPV co-infected men and women with its investigational cancer immunotherapy Multikine* (Leukocyte Interleukin, Injection). Dr. Joel Palefsky, world renowned scientist and Key Opinion Leader (KOL) in human papilloma virus (HPV) research and the prevention of anal cancer, has joined the study as a Principal Investigator at the University of California San Francisco (UCSF). UCSF becomes the second clinical site for the study. The first site, the U.S. Naval Medical Center San Diego, continues to enroll patients under a Cooperative Research and Development Agreement (CRADA).
Dr. Joel Palefsky is the Chair of the HPV Working Group of the AIDS Malignancy Consortium (AMC) and is the head of the AMC HPV Virology Core Lab at UCSF. The AMC is a U.S. National Cancer Institute-supported clinical trials group founded in 1995 to support innovative trials for AIDS-related cancers. The AMC is composed of over 37 clinical trials sites worldwide, five Working Groups, an Administrative Office, a Statistical Office, and an Operations and Data Management Office. Collectively, these components develop and oversee the scientific agenda, manage the groups’ portfolio of clinical trials and other scientific-based studies, and help to develop new protocols. Dr. Palefsky has extensive experience in the biology of HPV infection, HPV infection in HIV-positive men and women, HPV vaccines and in the design and implementation of multiple clinical research trials of HPV-related disease.
Having published over 280 papers, Dr. Palefsky is Principal Investigator of the ANCHOR study, an $89 million NIH-funded study of the efficacy of secondary prevention of anal cancer. He is also the Principal Investigator on several laboratory-based and clinical research studies of HPV-associated neoplasia, particularly in the setting of HIV infection. He also specializes in the molecular biology and development of new treatments for HPV. Dr. Palefsky is the founder and immediate past president of the International Anal Neoplasia Society and is currently president of the International Human Papillomavirus Society. He is actively involved in training students in clinical and translational research. Dr. Palefsky has led the Doris Duke Charitable Foundation (DDCF) program at UCSF since its inception in 2001 and has been the leader of the Clinical Translational Science Awards (CTSA) TL1 program at UCSF since its inception in 2006.
“We are very pleased to welcome Dr. Palefsky as a Principal Investigator for our Phase I study and we believe his interest in Multikine is a very important testament of our immunotherapy’s potential in the treatment of HPV related diseases in HIV infected patients,” stated CEL-SCI Chief Executive Officer Geert Kersten. “Dr. Palefsky is widely recognized as one of the world’s top researchers in the field HPV infection in HIV co-infected patients. With his participation through UCSF we anticipate rapid patient enrollment in our Phase I study.”
Anal and genital warts are commonly associated with HPV, the most common sexually transmitted disease. The U.S. Center for Disease Control and Prevention (CDC) has named HPV the 4th largest health threat the U.S. will face in 2014. According to the CDC, 360,000 people in the U.S. get genital warts each year. Persistent HPV infection in the anal region is thought to be responsible for up to 80% of anal cancers. HPV is an even more significant health problem in the HIV infected population as individuals are living longer as a result of greatly improved HIV medications, but have difficulty clearing HPV due to their compromised immune system.
About Multikine for HIV/HPV Co-infected Patients
Multikine is being given to HIV/HPV co-infected patients with peri-anal warts based on the results obtained in a Multikine Phase I study conducted at the University of Maryland in which the investigational immunotherapy Multikine was given to HIV/HPV co-infected women with cervical dysplasia. In these patients, visual and histological evidence of clearance of lesions was observed. Elimination of a number of HPV strains was also determined by in situ polymerase chain reaction (PCR) performed on tissue biopsy collected before and after Multikine treatment. The study investigators reported that the study volunteers in this study all appeared to tolerate the Multikine treatment with no reported serious adverse events. The treatment regimen utilized in the Multikine cervical study in HIV/HPV co-infected patient volunteers is identical to the regimen being administered in the current Phase I study of HIV/HPV co-infected patient volunteers with peri-anal warts that is in progress at the U.S. Naval Medical Center San Diego and the University of California San Francisco.
About CEL-SCI Corporation
CEL-SCI’s work is focused on finding the best way to activate the immune system to fight cancer and infectious diseases. Its lead investigational therapy, Multikine (Leukocyte Interleukin, Injection), is currently being studied in a pivotal Phase 3 clinical trial as a potential neoadjuvant treatment for patients with squamous cell carcinoma of the head and neck. If the study endpoint, which is a 10% improvement in overall survival of the subjects treated with the Multikine treatment regimen plus the current standard of care (SOC) as compared to subjects treated with the current SOC only, is satisfied, the study results will be used to support applications that the Company plans to submit to regulatory agencies in order to seek commercial marketing approvals for Multikine in major markets around the world. Additional clinical indications for Multikine that are being investigated include the treatment of cervical dysplasia in HIV/HPV co-infected women, and the treatment of peri-anal warts in HIV/HPV co-infected men and women. A Phase 1 trial of the former indication has been completed at the University of Maryland.
CEL-SCI is also developing its pre-clinical L.E.A.P.S. (Ligand Epitope Antigen Presentation System) technology for the potential treatment of pandemic influenza in hospitalized patients and as a potential vaccine for the treatment of rheumatoid arthritis.
The Company has operations in Vienna, Virginia, and in/near Baltimore, Maryland. For more information, please visit www.cel-sci.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words “intends,” “believes,” “anticipated,” “plans” and “expects,” and similar expressions, are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company's potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI Corporation’s filings with the Securities and Exchange Commission, including but not limited to its report on Form 10-K and 10-K/A for the year ended September 30, 2014. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
*Multikine is the trademark that CEL-SCI has registered for this investigational therapy, and this proprietary name is subject to FDA review in connection with the Company’s future anticipated regulatory submission for approval. Multikine has not been licensed or approved for sale, barter or exchange by the FDA or any other regulatory agency. Similarly, its safety or efficacy have not been established for any use. Moreover, no definitive conclusions can be drawn from the early-phase, clinical-trials data involving the investigational therapy Multikine (Leukocyte Interleukin, Injection). Further research is required, and early-phase clinical trial results must be confirmed in the Phase 3 clinical trial of this investigational therapy that is currently in progress.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150720005241/en/
PolyMet Reports Accomplishments at Annual Shareholders' Meeting
ST. PAUL, MINNESOTA, Jul 16, 2015 (Marketwired via COMTEX) -- PolyMet Mining Corp. (POM)(nyse mkt:PLM) is pleased to report 65.39 percent of the eligible shares were represented at its Annual General and Special Meeting of Shareholders held on July 15, 2015 in Toronto, Ontario and all motions put forward by the Board of Directors to the shareholders at or represented at the meeting were passed, including reelection of all eight directors.
Following the formal meeting, Jon Cherry, president and CEO updated shareholders on progress since the last shareholders' meeting and goals and objectives for the next twelve months.
Key Accomplishments
-- Completion of preliminary final EIS
-- Schedule for final EIS publication and completion of the State adequacy
determination
http://www.dnr.state.mn.us/input/environmentalreview/polymet/index.html
-- Drafting of key Mine, Air and Water Permits for submission to the State
-- $30 million loan facility with Glencore AG, a wholly-owned subsidiary of
Glencore plc.
-- Expanded investment research coverage
Cherry noted that publication of the schedule for completion of the environmental review was itself a major milestone and laid the path to the start of construction. He also told shareholders that PolyMet's share price had outperformed the S&P/TSX Global Mining Index by approximately 60 percent over the year.
Key Goals & Objectives
-- Publication of the final EIS in the Federal Register and the Minnesota
Environmental Quality Board Monitor in early November 2015 and final
decision on the adequcy of the final EIS early Februuary 2016
-- Preparation and submission of draft permit applications with decision on
state permits within 150 days of acceptance of applications, under state
guidelines
-- Records of Decision on the federal 404 Wetland Permit and the Land
Exchange.
-- Completion of the Definitive Cost Estimate and Project Update
-- Completion of construction finance plan including commitment of debt
prior to the issuance of permits but subject to typical conditions
precedent, such as receipt of permits.
-- Completion of project construction implementation plan
-- Start construction
Cherry stated, "The final EIS represents more than a decade of detailed review and analysis of the potential environmental impacts of the NorthMet Project and the Company's plans to mitigate those impacts. Reusing existing facilities and infrastructure minimizes the new impacts and addresses legacy issues associated with historic iron ore mining."
Cherry concluded by thanking all of the stakeholders - investors, staff, contractors, and the local community for their continued support. He also thanked the government agencies and their contractors tasked with completing the environmental review for their hard work and efforts to ensure that the final EIS is thorough and complete, providing the legal basis for issuance of permits to construct and operate the NorthMet Project.
Formal Proceedings
The following eight persons were elected as Directors of the Company to hold office until the next annual general meeting of the Company. The voting results are shown below:
-----------------------------------------------------------------------
-----
Director Votes For % For Votes Against % Against
----------------------------------------------------------------------------
Jonathan Cherry 104,045,411 98.99 1,056,599 1.00
----------------------------------------------------------------------------
Matthew Daley 104,007,697 98.95 1,094,313 1.04
----------------------------------------------------------------------------
Dr. David Dreisinger 104,662,223 99.58 439,787 0.41
----------------------------------------------------------------------------
W. Ian L. Forrest 102,471,885 97.49 2,630,125 2.50
----------------------------------------------------------------------------
Alan R. Hodnik 102,519,935 97.54 2,582,075 2.45
----------------------------------------------------------------------------
William Murray 101,582,722 96.65 3,519,288 3.34
----------------------------------------------------------------------------
Stephen Rowland 101,228,775 96.31 3,873,235 3.68
----------------------------------------------------------------------------
Michael M. Sill 102,513,377 97.53 2,588,633 2.46
----------------------------------------------------------------------------
Shareholders also re-appointed PricewaterhouseCoopers LLP as auditors of the Company and the board is authorized to fix the remuneration to be paid to the auditors and re-approved the Company's 2007 Omnibus Share Compensation Plan, as approved by shareholders in 2007, 2010 and subsequently amended and restated by shareholders in 2012. The Board withdrew the motion to re-approve PolyMet's Amended and Restated Shareholder Rights Plan, as amended and restated by the shareholders in 2007, 2008, confirmed in 2011 and subsequently amended and restated by shareholders in 2013 pending anticipated changes to Canadian take-over rules. The plan was re-approved in 2013 and therefore remains in effect.
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a publicly-traded mine development company that owns 100 percent of Poly Met Mining, Inc., a Minnesota corporation that controls 100 percent of the NorthMet copper-nickel-precious metals ore body through a long-term lease and owns 100 percent of the Erie Plant, a large processing facility located approximately six miles from the ore body in the established mining district of the Mesabi Range in northeastern Minnesota. Poly Met Mining, Inc. has completed its Definitive Feasibility Study and is seeking environmental and operating permits to enable it to commence production. 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.
POLYMET MINING CORP.
Jon Cherry, CEO
This news release contains certain forward-looking statements concerning anticipated developments in PolyMet's operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding completion or timing of the environmental review and permitting or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.
PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.
Specific reference is made to PolyMet's most recent Annual Report on Form 20-F for the fiscal year ended January 31, 2015 and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission, including our Report on Form 6-K providing information with respect to our operations for the three months ended April 30, 2015, for a discussion of some of the risk factors and other considerations underlying forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Media
Bruce Richardson
Corporate Communications
+1 (651) 389-4111
brichardson@polymetmining.com
Investor Relations
Jenny Knudson
Investor Relations
+1 (651) 389-4110
jknudson@polymetmining.com
SOURCE: PolyMet Mining Corp.
(C) 2015 Marketwire L.P. All rights reserved.
Ok. Yeah that's the meats and potatoes of the article. So that's a little more promising with the extended timeline.
Where did you find this?
http://www.duluthnewstribune.com/news/3796494-dnr-releases-more-detailed-polymet-timetable
Might get real cheap again.