NEW YORK, NY--(Marketwire - 09/22/09) - NYMET Holdings Inc. (Pinksheets:NYMH - News), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces the commencement of sales of non-ferrous metals from the Reed Saw Mill Project, located in California.
At time of press, NYMET is ready to announce that the demolition portion of this Project has been completed. Furthermore, the waste stream separation of the non-ferrous metals has commenced, which will increase the Company's revenue. In addition to scrap steel being sold from the site, NYMET has also received its first purchase order for non-ferrous metals.
NYMET received their first purchase order for non-ferrous metals on Friday, September 18th from Top Dollar Scrap, a local recycling yard. Top Dollar is under contract to pick-up 10 truckloads of aluminum scrap derived from the demolition of the saw mill facility. NYMET anticipates the completion of this Project to be within 45 days. Furthermore, NYMET, as of today, has successfully delivered and had accepted over 45 truckloads, containing 1,000 tons of scrap steel, to the La Place facility in Louisiana, thus completing the first purchase order between NYMET and Bayou Steel. Additional purchase orders from Bayou Steel are anticipated in the near future for additional amounts of material.
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The results described herein cannot be guaranteed. The development of any and all of the subject mining claims stated herein is contingent upon multiple high risk factors that must be successfully dealt with in order to achieve the intended results. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of NYMET Holdings to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. NYMET Holdings undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in NYMET Holdings expectations.
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