SOURCE: NYMET Holdings Inc.

NYMET Holdings Inc.

August 27, 2009 08:30 ET

NYMET Holdings Inc. (NYMH) Announces Demolition Successfully Underway on CA Reed Saw Mill Project

NEW YORK, NY--(Marketwire - August 27, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces that personnel have commenced the demolition and recovery process for the CA Reed Saw Mill project.

The contracted demolition company has begun executing demolition work scheduled as planned and anticipates the completion of the demolition portion of the project within the next 60 days. Furthermore, the first 1,000 tons of material, already sold through a Purchase Order with Bayou Steel Incorporated, is already processed and on the ground ready for shipment to the Bayou Steel, LaPlace facility.

NYMET's Project Manager Mr. Gregory Klok has been quoted as saying, "We are on track to meet the delivery goals set by management and look forward to completing this project quickly and moving on to our next location."

DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

The results described herein cannot be guaranteed. 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 Inc.'s 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 Inc. 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 Inc. 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 Inc.'s expectations.

Contact Information

  • Contact:
    Mark Daniel Klok
    NYMET Holdings Inc.
    (631) 680-8135