Applied Minerals Receives Purchase Order for Its DRAGONITE Halloysite Clay for Oilfield Application
Applied Minerals, Inc. (OTC:AMNL) has announced a significant initial purchase order worth $270,000 for its DRAGONITE halloysite clay product, targeted for a downhole oilfield application. The order reflects a positive response to the recent improvements in the oil and gas market, which had previously delayed the commercialization of oilfield-related products utilizing this clay. Management expresses optimism about gaining commercial traction for these products going forward.
- Received a $270,000 purchase order for DRAGONITE halloysite clay, indicating market demand.
- Improved oil and gas market conditions may enhance the commercial viability of oilfield-related products.
- None.
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EUREKA, UT / ACCESSWIRE / March 22, 2022 / Applied Minerals, Inc. (the "Company" or "AMI") (OTC:AMNL), a leading producer of halloysite clay and natural iron oxides for high-value industrial applications, is pleased to announce it has received an initial purchase order for
Halloysite has been shown to improve the performance of a range of oilfield applications. The uncertainty in the energy markets experienced during 2020 delayed the commercialization of a number of oilfield-related products developed around the Company's DRAGONITE halloysite clay. In light of the improved oil and gas market, management believes these oilfield-related products will gain commercial traction.
The Company looks forward to providing additional business updates in the future.
About Applied Minerals, Inc.
Applied Minerals, Inc., the owner of the Dragon Mine property in Eureka, UT, is a producer of halloysite clay and natural iron oxides. Halloysite is aluminosilicate clay that possesses a naturally formed tubular structure. The Company markets its halloysite clay and iron oxide products into a number of high-value application areas including, but not limited, catalysts and molecular sieves, polymer reinforcement, flame retardant additives, controlled release, construction products and lithium-ion battery minerals. Applied Minerals sells its halloysite products under the DRAGONITE trade name its iron oxide products under the AMIRON trade name.
Safe Harbor Statements
The following are safe harbor statements under the Private Securities Litigation Reform Act of 1995 for Applied Minerals, Inc. Some statements contained or implied in this news release may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the Company's revenue pipeline, please refer to Applied Minerals' most recent annual and quarterly reports filed with the SEC. The Company assumes no obligation to update any forward-looking information.
Investor Relations Contact:
Christopher Carney
President and CEO
info@appliedminerals.com
SOURCE: Applied Minerals, Inc.
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