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July 7, 2014
17:02 EDTGMOGeneral Moly says Liberty Project PEA elevated to pre-feasibility level study
General Moly announced the elevation of the company’s wholly-owned molybdenum-copper Liberty Project from a Preliminary Economic Assessment announced April 8 to a National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administration compliant Pre-Feasibility Study. The timeframe for completing the PFS remains unchanged from the PEA estimate, with expected conclusion by the end of July. The Liberty Project is located 20 miles north of Tonopah, Nevada. Bruce D. Hansen, CEO of General Moly, said, “Based on the quality of the underlying data and the level of technical and economic assessment already completed at the Liberty Project, we in combination with our consultants, decided that the study qualifies as a PFS under Canadian NI 43-101 standards. Assuming positive results, this will allow us to more rapidly advance the Liberty Project through full feasibility and permitting.”
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