May 3, 2011 / 4:47 AM / 7 years ago

UPDATE 1-PolyMet to delay filing of year-end results

May 3 (Reuters) - Mine development company PolyMet Mining Corp expects to delay filing its annual financial results by a maximum 2 days, saying it failed to complete the review of financial information in a timely manner.

Vancouver-based PolyMet said it now expects to file its full-year statements for the period ending January 31 on or before May 4, instead of May 2.

The company had also delayed the filing of its interim financial statements for the period ended Oct. 31, 2010, because of difficulties in moving to a new accounting and financial reporting system. [ID:nSGE6BD0C6]

PricewaterhouseCoopers LLP is the company’s auditor.

The applicable Canadian securities regulatory authorities may issue a general cease trade order against PolyMet for failure to file the required documents within the prescribed time period, the company said in a statement.

In the interim, PolyMet will apply to the Canadian securities regulatory authorities for a management cease trade order.

Shares of the company closed at C$1.89 on Monday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Muralikumar Anantharaman)

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