General Moly ends $125M loan deal for Mount Hope

May 16, 2013 | 11:18 AM | Daniel Fitzgerald

Tags  General Moly, Mount Hope, nolybdenum, Bruce Hansen, Sichuan Hanlong, China Development Bank, Liu Han, Daniel Fitzgerald

NEW YORK — General Moly Inc. and Sichuan Hanlong (Group) Co. Ltd. have agreed to terminate a $125-million loan deal that was intended to supplement a $665-million term loan to finance the Mount Hope molybdenum project in Nevada.

The subordinated loan agreement, which would have become available upon receipt of the Chinese-sourced term loan, was terminated to provide General Moly with greater flexibility in securing an additional Chinese strategic partner, the Lakewood, Colo.-based company said.....

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