leadf
logo-loader
viewApplied Minerals, Inc.

Applied Minerals' new CEO tells shareholders he's optimistic about the future

It owns the Dragon Mine in the Tintic District of Utah, stretching over 230 acres and produces halloysite clay under the trade name DRAGONITE

Applied Minerals Inc -
Last month, Mario Concha was appointed President and CEO of the group, replacing Andre Zeitoun, who resigned on September 9 this year

The new chief at Applied Minerals Inc (OTCMKTS:AMNL) has told shareholders that the Halloysite clay-focused miner is now "properly positioned" to achieve its commercial goals.

Halloysite clay is used in everything from a fire retardant additive to a key material in lithium-ion batteries. The clay is also the most efficient delivery methods for agricultural agents like fertilizers and pesticides.

Last month, Mario Concha was appointed President and CEO of the group , replacing Andre Zeitoun, who resigned on September 9 this year.

READ: Applied Minerals cites five potential opportunities worth up to $19 million in revenue

"With the largest halloysite mine in the western hemisphere, our goal has been and will continue to be the development and sale of our halloysite clay products into high-value industrial application markets," Concha wrote in a letter to shareholders.

"We believe we are in a position to grow our halloysite clay sales over the next few years. Management has been focused on a number of promising customer projects that we hope will convert to revenue over the near-to-intermediate term. Additionally, we are pursuing several short-term opportunities to address our liquidity needs."

Concha highlighted that earlier this year, the firm hired Sharad Mathur, PhD, formerly of BASF, to be the chief technology officer.

Dr. Mathur is an accomplished inorganic chemist with a great deal of experience working with aluminosilicate clays, he noted.

The firm owns the Dragon Mine in the Tintic District of Utah, stretching over 230 acres and produces halloysite clay under the trade name DRAGONITE and advanced natural iron oxides under the trade name AMIRON.

"We hope to increase the value of the company's equity primarily by continuing to expand the commercialization of our halloysite and iron oxide products. We fully intend to provide shareholders and the marketplace with periodic updates regarding our progress," concluded Concha.

Shares surged 34% in New York to US$0.027.

Quick facts: Applied Minerals, Inc.

Price: 0.0071 USD

OTCMKTS:AMNL
Market: OTCQB
Market Cap: $1.25 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Applied Minerals, Inc. named herein, including the promotion by the Company of Applied Minerals, Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Applied Minerals brings on industry vet Sharad Mathur as chief technology...

Applied Minerals Inc (OTCQB:AMNL) sales director Brian Newsome tells Proactive Investors the company that specializes in Halloysite clay production has appointed senior industry veteran Dr. Sharad Mathur as its new chief technology officer. Newsome says Mathur will lead the company's...

on 01/31/2019

2 min read