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Friday, March 10, 2000
PolyMet Resources Inc. has entered into an agreement to acquire ownership of the former Temiskaming Testing Laboratory property located in Cobalt, Ontario. The purchase is subject to a due diligence period to the benefit of the purchaser.
The facility was designed as a sophisticated and extremely accurate bulk sampling and testing station for mineral and dry concentrated products and is one of the finest installations of this type in North America.
The facility has the capability of crushing, grinding and blending 100 tons of dry material in a single batch and is equipped with bullion furnaces each capable of smelting 150 kilos of precious metals to be cast into bullion bars.
The laboratory includes two fire assay furnaces as well as an atomic absorption unit for complete metallurgical analysis.
The company will offer bulk sampling, testing and refinery services to producers and suppliers throughout North America.
The directors and major shareholders of the company are Mr. Robert J. Rice, Mr. Gino P. Chitaroni and Mr. James C. Taylor.
On behalf of the Board of Directors,
James C. Taylor
Comptroller, CFO
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