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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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July 25, 2014
08:04 EDTGMOGeneral Moly announces court order confirming BLM ROD project approval
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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 Project’s 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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