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Update: Polymet Mining Bolsters Working Capital

On February 2, PolyMet Mining (NYSEMKT:PLM) announced that it has entered into a $30M loan facility with its strategic partner and 29% shareholder Glencore (OTCPK:GLCNF). The company has already drawn down $8M at the end of January, and will be drawing down three more tranches throughout this year. The interest rate of LIBOR + 8% is quite advantageous and documents the ongoing support of PolyMet and its NorthMet project by its large…