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PolyMet Mining Corp. (PLM)

NYSE American - NYSE American Delayed Price. Currency in USD
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3.7600+0.3500 (+10.26%)
At close: 4:00PM EST
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  • W
    Waise
    Good things to come. Just need patience. Good luck all!
    Bullish
  • J
    Jim
    Anyone know why the nice jump today?
  • T
    TestingTheCat
    Holy Tailing Acid Leakage Batman! IMO

    This mine is now toast. Why?

    After SC oral arguments where DNR claimed everything was in the record for the Judges to determine the the data for the decision was all tickety boo (ttc summary leaglease) to show why they made their permitting decision - they discover they left out the proposed liner design docs. In an ironic twist DNR wanted to submit additional docs into the permitting record to show the efficacy of the clay lining. Chief Justice Lorie Gildea "kicked" the late petition to add documents to the curb - using the ttc legal equivalency of what is good for the goose is good for the gander. DNR had objected to the other side adding supplemental documents earlier;)

    This is the one of two PLM suits in front of the SC. It would appear that the litigantes may win this one independent of the other suit. If so it may take years to establish the effectiveness of the bentonite liner especially if it has to be done BEFORE the mining can start.

    DNR's consultant is quoted in the Duluth News Tribune as saying “The bentonite seal is a Hail Mary type of concept in my opinion. I believe it will exacerbate erosion and slope failure and will eventually fail.”

    PLM may need a different approach or get the DNR to use different consultants.
    I predict the leakage and missing documents will be a key line item cited in the final opinion of the court AGAINST PLM.

    Read the attached - Just one more reason never to invest in a mine until the last year before metal after the last raise and RS. All in my opinion. Price for copper today is $3.22.

    Cheers TTC

    https://www.duluthnewstribune.com/business/energy-and-mining/6766628-Minnesota-Supreme-Court-Too-late-for-DNR-to-include-documents-supporting-clay-liner-in-PolyMet-dam
    Justices, and a lower court's ruling, have cast doubt on whether evidence proves the clay can prevent leaks and oxidization of tailings.
    Justices, and a lower court's ruling, have cast doubt on whether evidence proves the clay can prevent leaks and oxidization of tailings.
    www.duluthnewstribune.com
  • W
    William
    1) PolyMet was in their line-of-sight years ago (November 2015):

    https://www.minnpost.com/environment/2015/11/minnesota-s-permit-northshore-mine-expansion-riles-tribes-environmental-groups/

    2) They failed to stop the permitting so they get court of appeals to reject permits (March 2020):

    https://www.kare11.com/article/news/local/mn-court-of-appeals-sends-polymet-permit-back-to-mpca/89-a275f5b7-4108-4127-a5d0-da3852a34ca5

    3) supreme appeals court hearing (November 2020). Thank you TTC for providing the link.

    After reviewing all this information it just seems, to me, that: all mines would obviously have an intent to expand; and, there are processes in place to verify compliance to initial permits and to seek amendments or additional permits before actually expanding operations. So even thou PolyMet would have the ability to increase capacity beyond initial permitting doesn't mean they would be able to without violating the initial permit and subjecting themselves to penalties. I'm not seeing the failure in the system or the noncompliance to a process.
  • W
    William
    What is up with that 900K trade at 1:25 PM today? I noticed high buying days last two weeks but found some of my other mining stocks did the same (market). Yet today seems different where PLM is sticking out with higher volume and upside.
  • T
    TestingTheCat
    IMO
    Up to the court hearing this last week I was bullish on entry after construction financing. The logic being the money can be used elsewhere and reinvest after the financing is done for PLM. After watching both the indefinite permit hearing Oct 13, and the air permit court hearing Nov 5 it becomes obvious the PLM may have to start over FROM SCRATCH for a Title V permit process.

    They may win the Oct 13 case - but the Nov 5 case may send them back to square 1. Check out the link for the second hearing and ignore the first 20 minutes if you are tight on time. The case and question are tightly stated around 20 to 40 minutes in.

    https://www.mncourts.gov/SupremeCourt/OralArgumentWebcasts/ArgumentDetail.aspx?vid=1423

    Bottom line - only invest in mines after the construction phase financing is done.

    Cheers ttc
    Minnesota Judicial Branch - ArgumentDetail
    www.mncourts.gov
  • R
    RealMcCoy
    Spot price of Nickle moving higher at $7.20. Up more than 40% from the lows this past summer. Stock price historically tracks the Nickle price.
  • D
    Dennis
    With all due respect, will someone who is well-informed please let us newcomers and potential investors know why this stock went up over 8 % in the after-hours? It looks like a good opportunity, ready for a rebound, but I would be grateful if someone 'in the know' could please let us know nature of the good news. Much thanks in advance...
  • m
    michael
    To all who voted for Biden in NE MN. If this mine (mining in general) doesn't go through and Biden gets in, you have no one to blame but yourselves! Your continued unemployment, alcoholism, dying towns will grow and I will not feel sorry for you!!
  • R
    Robert
    passing 40$ long term fomo starting to appear in mid level miners.
    Bullish
  • J
    JoeT
    Pence is showing up here to root for this mine. Think that's going to do anything? Even if the mine finally goes Glencore knows how to milk stock dry. I got out last week.
  • R
    Richard
    I love seeing one month old stories on a stock forever.
  • T
    TestingTheCat
    IMO
    NEVDF just released numbers - They used their construction waste ore to re spin up the processing which consisted of "stockpiled low-grade mineralized material". Note this waste ore has a higher concentration (0.4%) compared to PLM "prime" ore (0.294%). The actual Cu at NEV is 1.74 to 2.02%. Almost 7x more than PLM. The cut off in the financial analysis for ore concentration that is considered not worth mining is 0.75% - over twice the amount for "prime" PLM concentrations.

    I wish they would get the PLM permit decided one way or the other. It will be interesting to see how closely the development and financing sequences mirror each other and where they diverge.

    Cheers ttc
  • W
    William
    DTRC announced a cash dividend of 0.055 per eligible common share (0.44)

    https://finance.yahoo.com/news/dakota-territory-corp-declares-special-140000440.html
  • T
    TestingTheCat
    Now we will see who is really wonky on all thinks polymet - new live link to listen to MN supreme court hearings was added in the last few weeks

    https://www.mncourts.gov/SupremeCourt/OralArgumentLivestream.aspx?id=191

    Who knew?
    Minnesota Judicial Branch - OralArgumentLivestream
    www.mncourts.gov
  • T
    TestingTheCat
    @Joel I am out until after election and closer to the decision.

    MNSC https://www.mncourts.gov/SupremeCourt.aspx
    "Though no one knows exactly when the Court will hand down its decision, opinions are generally released about 3-5 months following oral arguments."

    IMO
    The decision will either generate a contested hearing
    or
    Require the eviros to try to open up the "new" evidence/materials with DNR.

    My best guess is PLM wins as the "evidence" came in after the decision was made.

    If that happens in March The escrow will close on the financing 2021q4 or 2022 q1.

    So late 2025 early 2026 first copper.

    It will be a whole new game after January. If trump wins I will go back in and try for picking up one more bump up in Feb to the decision and sell before the financing (dilution).

    I Biden wins - PLM is dead to me and will take a fresh look in 2024. Time to hunker down into resilient stocks and avoid the "dirty" stocks as defined in the green new deal.

    Cheers ttc
  • W
    William
    Court of Appeals: I read the record with the court containing the arguments for reversing the permits. Basically the issue is disagreements with DNR's finding the FEIS adequate after DNR determined there was no conflicting evidence to determine otherwise. I find the arguments to reverse permits baseless and subjective without factual conflicting evidence to the FEIS. Specifically DNR must allow a contested-case hearing based on conflicting evidence to the FEIS before permitting but there wasn't any real evidence to require such a hearing. I imagine the Supreme Court will have a similar conclusion as mine but I won't be there to hear the verbal arguments.
  • T
    Thomas
    When will it be announced?
  • T
    TestingTheCat
    IMO
    Mike Ciricillo has a deep and wide background in all processes in Copper mining. Esp open pit mining.

    This guy was heavily connected with Glencore core mgmt. His Congo and Peru experience is a get the job done in mines that had lots of labor, Government and security issues we do not have in Nevada. Notice he has a two year typical dwell time in any slot he has held.

    GC is looking to acquire new mines - PLM is a long way off with a much lower concentration.
    My guess There is about to be some serious changes in the overall tone of NEVDF.
  • J
    Joel
    sell orders set at 6.50, 7.00, 7.50, 8.00 holdings for sell price in same order 50%, 30%, 15%, 5% now I wait for the news