General Moly issues alternate mine plan
Feb 26, 2014 | 02:48 PM
| Daniel Fitzgerald
NEW YORK General Moly Inc. has presented an alternate mine plan for its Mount Hope project in Nevada that accounts for sustained lows in molybdenum pricing.
The Lakewood, Colo.-based companys "optional scenario" for the mine would provide ore for 24 years of mining and 30 years of milling vs. 34 years and 41 years, respectively, under the current base plan.
At a molybdenum price of $12.50 per pound, the optional scenario reduces the net present value break-even molybdenum price to $10.82 per pound from $11.19 per pound in the base plan, with the undiscounted cash flow break-even price dropping to $9.35 per pound in the new plan from $9.80 per pound in the base plan, General Moly chief executive officer Bruce Hansen said....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.