General Moly’s hopes lifted by rising moly tags

May 06, 2014 | 04:37 PM | Daniel Fitzgerald

Tags  General Moly, Bruce D. Hansen, molybdenum, Mount Hope, financing, Liberty, copper, Daniel Fitzgerald

NEW YORK — General Moly Inc.’s pursuit of financing for the Mount Hope project in Nevada has been buoyed by a recent rise in free-market molybdenum prices, the company said May 6.

The Lakewood, Colo.-based company said that engineering work at the Mount Hope project is now 65-percent complete, while about 80 percent of planned spending on mining equipment has been committed with cancelable purchase orders.

The company is continuing to search for financing after loan deals with Chengdu, China-based Sichuan Hanlong (Group) Co. Ltd. and China Development Bank fell through a year ago following the arrest of a Hanlong executive (, May 16, 2013). ....

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