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Polymet Mining Corp T.POM

PolyMet Mining Corp. is a mine development company. The Company is engaged in mining copper, nickel and precious metals from the NorthMet ore body. The Company owns the NorthMet Project and Mesaba Project, which is a copper, nickel, cobalt and platinum group metal (PGM) deposits. The NorthMet deposit is located in the Partridge River Intrusion of the Duluth Complex, a geological formation near the eastern end of the Mesabi Iron Range, which is an undeveloped accumulation of copper, nickel and platinum group metals. The Mesaba Project is located in St. Louis County, Minnesota. Its NorthMet is a disseminated sulfide deposit in heterogeneous troctolitic rocks associated with Mid-continent Rift, and is rich with copper, nickel, cobalt, platinum, palladium, gold and silver. The majority of the metals are concentrated in, or associated with, four sulfide minerals: chalcopyrite, cubanite, pentlandite and pyrrhotite.


TSX:POM - Post by User

Bullboard Posts
Post by tooclassyon Apr 11, 2007 3:37am
384 Views
Post# 12583586

RE: Polymet - First Nickel Mine - Who is #2?

RE: Polymet - First Nickel Mine - Who is #2?I have been reading with interest about this discussion of Franconia Minerals as being a "Polymet lookalike". Franconia (FRA.V) has 100% ownership of two nearby properties containing massive amounts of nickel and copper and other minerals. In fact, Franconia has a NPV greater than Polymet despite the fact that Polymet has a market cap 6x greater (of course, this is because it is closer to production). Polymet could easily increase its resource base by over 100% without having to pay even 50% of its market cap for Franconia. This is a deal "dying" to get done. Polymet should buy out Franconia. The only question is "at what price"!
Bullboard Posts