Applied Minerals Inc (AMNL)

[wald]

"Our halloysite clay marketing efforts include contacting potential customers and distributors which we have done. Each buyer may have a different use for the product and the price and quantity will vary as a result. The sale of product cannot be formalized until we have verified our ability to provide the quality and quantities as required by the potential buyers. From results of the product samples distributed we have numerous potential buyers."
From 1Q05 filing,
There does not seem to be any reference to mined clay.
There is no indication of the time needed to establish the
Reserves required to formalize sales.