Applied Minerals Inc (AMNL)

[Jagman]

Did Bill Jacobson say this (from above)? Plus I think the Purchase Order PR for 5000(?) tons was pretty misleading.

"Our US distributor has assured us of 5,000 to 8,000 tons annually. Our Oriental distributor has committed to purchase 500 tons monthly of our product at $445 per ton. The best results of our exploring the potential markets was the results of experimenting with our product by the US Naval Research Lab in Washington DC. The Navy has patented a microtubular process wherein the tubes can be injected with a anti-fungal agent and put into paint that will help eliminate barnacle buildup on boats. The microtubulars were initially manufactured synthetically, but it was found that the micro structure of our halloysite clay compares to the synthetic molecule very well. Other natural products tested did not compare as well, including the New Zealand halloysite. It is our intention to put the Dragon Mine into production before yearend. According to sources at the Naval Research Lab, the paint industry will in the position to place order for our product by later this summer."