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February 19, 2013
08:35 EDTGMOGeneral Moly provides update about the Mt. Hope Project
General Moly provided an update to the Mt. Hope Project's financing and development. Early construction activities are progressing as planned at the Mt. Hope project site including cultural clearance, clearing and grubbing, wood harvesting, and the development of wells and water pipelines. Kautz Environmental Consultants has completed field mitigation activities for all 32 cultural sites identified in the Phase I Cultural Mitigation of the initial construction program. Official releases from the Bureau of Land Management and the State Historical Preservation Office have been obtained for 20 of the 32 cultural sites. Ames Construction has cleared and grubbed over 625 acres and is planning for the construction of the administrative office and mill site areas as well as clearing the water pipeline corridor in preparation for developing the well field and water distribution system to support heavy construction activities.
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July 24, 2014
17:34 EDTGMOGeneral Moly updates Pre-Feasibility Study for Liberty Project
General Moly completed an updated Pre-Feasibility Study for its 100%-owned Liberty Project located 20 miles north of Tonopah, Nevada. Total capital costs to construct the project are estimated at $366M. Sustaining capital costs are estimated at $224M over the Liberty Projectís 32 year life of mine. For the first five full years of production: annual salable production of approximately 14.0M pounds of molybdenum and 7.5M pounds of copper per year is expected; average on-site cash costs of $6.32 per pound are expected; and total cash costs of $7.79 per pound are expected. The updated mine plan results in a total of 402M pounds of molybdenum and 308M pounds of copper to be produced during the LOM. The Liberty Project generates an after tax net present value at an 8% discount rate of $325M, and an internal rate of return of 17.4%.

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