Diligence memo · auto-generated · as of July 2, 2026

Polymet Mining Corp

Polymet Mining Corp looks fair against its niche peers and is dormant on financing cadence.

DeprioritizeFinancing has gone silent well past the sector's normal cadence — treat as inactive until outside confirmation of a live operation.

Businessfiled

Polymet Mining Corp operates in Other, based in RICHMOND.

Sector still resolves to a broad 'Other' bucket, so operating comparables below are weaker than for a tightly-classified peer.

No verified homepage on file yet — operating evidence is limited to the public record.

Capital & rounds (filed)filed

Polymet Mining Corp has raised $25M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).

Largest single filing: $20M on 2011-11-30.

Most recent recorded round closed around 2011-11-30.

Valuation (modeled)modeled

Provath models Polymet Mining Corp at approximately $332M (range $50M–$1.3B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.

Read: Fair. Modeled value is 0.91× the median modeled value of Series B Other companies in 2010–2012 (251 peers) — value vs value, same stage and era. Within the normal band (91% of peer median) for its niche.

Financing rhythm & timingmixed

Historic cadence: a new round about every 10 months.

Last raise 14.6 yr ago; this sector typically re-raises about every 11 months.

Silent for over 3× the sector's normal cadence.

The last round stepped up 4.0× from the prior — scaling.

Comparablesmixed

Capital scale ranks ahead of 88% of Other peers (25015 compared).

Modeled value ranks above 92% of those peers.

Closest niche peers: ATS Consolidated, Inc., Amber Holding Inc., Varsity AP Holdings LLC, Nordic Cold Storage Holdings, LLC, Nevsun Resources Ltd.

Peoplefiled

11 named people on file across officers, directors and signatories.

Risks & flagsmixed

Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.

Broad sector classification weakens peer comparison.

No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.