Although this mining company falls into the category of speculative stocks, analysts expect the company’s earnings to grow at an annual rate of 20% over the next five years.
PolyMet Mining Corp. (PLM)
From 2 for 1 Stock Split Newsletter
PolyMet is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to have received permits within the Duluth Complex in northeastern Minnesota, one of the world’s major, undeveloped mining regions.
NorthMet has significant proven and probable reserves of copper, a metal vital to infrastructure improvements and global carbon reduction efforts - in addition to marketable reserves of nickel, palladium, cobalt, platinum and gold. When operational, NorthMet will become a significant producer of copper, nickel, palladium and cobalt in the U.S., providing a much needed, responsibly mined USA source of these critical and essential metals. Located in the Mesabi Iron Range, the project will provide economic diversity while utilizing the region’s established supplier network and skilled workforce.
PLM has traded over the counter between $2.60 and $4.00 over the last year and is currently near the bottom of that range. A few permitting issues remain, making this, undeniably, a very speculative stock. However, in my opinion, pressure to increase responsible domestic production of copper, both from the market and from Washington, will soon push PolyMet into production and profitability.
Neil Macneale, 2 for 1 Stock Split Newsletter, 2-for-1.com, 408-210-6881, December 17, 2021