Applied Minerals Inc (AMNL)

[Paullee]

Customer Completes Plant Trial of DRAGONITE Halloysite Clay for Use as Flame Retardant Additive
GlobeNewswire•May 8, 2018
NEW YORK, May 08, 2018 (GLOBE NEWSWIRE) -- Applied Minerals, Inc. (the "Company" or "Applied Minerals") (AMNL), a leading global producer of halloysite clay, under the trade name DRAGONITE, and advanced natural iron oxides, under the trade name AMIRON, is pleased to announce that a leading developer of flame retardant applications has completed a successful plant trial of DRAGONITE halloysite clay for use as a flame retardant additive.

According to Andre Zeitoun, President and CEO of Applied Minerals, Inc., "For this application DRAGONITE outperformed all other competing flame retardant additives evaluated by the customer. DRAGONITE operates as a non-toxic, non-halogenated flame retardant additive that enhances char formation, smoke suppression and the physical properties a matrix. We believe this customer validation further supports the value proposition DRAGONITE provides the $6.0 billion flame retardant chemicals market.”

The customer expects to commercialize the application during the fourth quarter of 2018.

The estimated annual revenue of this opportunity is approximately $2.0 million and is a component of the Company’s 2018 - 2019 Revenue Outlook disclosed in February 2018. The Company will provide similar updates on the progress of other pipeline opportunities as they develop.