General Moly Announces Transmittal of Mt. Hope Project Notice of Availability to Washington D.C. Office of Bureau of Land Management
General Moly, Inc. (the 'Company') (NYSE Amex and TSX: GMO) was notified
today that the Nevada office of the Bureau of Land Management ('BLM')
has transmitted the Mt. Hope project Notice of Availability ('NOA')
associated with the Mt. Hope Draft Environmental Impact Statement
('DEIS') to its Washington, D.C. office. The NOA process requires a
summary document to be signed by five officials of the U.S. Department
of Interior ('DOI') before being published in the Federal Register,
which will trigger the start of a 90-day public comment period.
Bruce D. Hansen, Chief Executive Officer, said, 'We are pleased that the
Battle Mountain and Nevada State offices of the Bureau of Land
Management have continued to move this process forward. Although the NOA
process has historically taken many months to complete, recent
streamlining efforts by the BLM and DOI have resulted in faster
processing timelines. Given the urgent need to create jobs in Nevada, we
anticipate the BLM will continue to act expeditiously and anticipate
that the Mt. Hope NOA will be published in the Federal Register in
December. This would then trigger the start of the public comment period
on the DEIS for the Mt. Hope project and move us one step closer to the
completion of permitting and regulatory approval.'
General Moly is a U.S.-based molybdenum mineral development, exploration
and mining company listed on the NYSE Amex (formerly the American Stock
Exchange) and the Toronto Stock Exchange under the symbol GMO. Our
primary asset, our interest in the Mt. Hope ?project located in central
Nevada, is considered one of the world's largest and highest grade
molybdenum deposits. Combined with our second molybdenum property, the
Liberty project that is also located in central Nevada, our goal is to
become the largest primary molybdenum producer by the middle of the
decade. For more information on the Company, please visit our website at http://www.generalmoly.com.
Forward-Looking Statements
Statements herein that are not historical facts are 'forward-looking
statements? within the meaning of Section 27A of the Securities Act, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended and are intended to be covered by the safe harbor created by
such sections. Such forward-looking statements involve a number of risks
and uncertainties that could cause actual results to differ materially
from those projected, anticipated, expected, or implied by the Company.
These risks and uncertainties include, but are not limited to, metals
price and production volatility, global economic conditions, currency
fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, exploration risks and
results, political, operational and project development risks, including
the Company′s ability to obtain required permits to commence production
and its ability to raise required financing, adverse governmental
regulation and judicial outcomes. The closing of the Hanlong transaction
and obtaining bank financing are subject to a number of conditions
precedent that may not be fulfilled. For a detailed discussion of risks
and other factors that may impact these forward-looking statements,
please refer to the Risk Factors and other discussion contained in the
Company′s quarterly and annual periodic reports on Forms 10-Q and 10-K,
on file with the SEC. The Company undertakes no obligation to update
forward-looking statements.
General Moly:
Investors and Business Development
Seth
Foreman, 303-928-8591
sforeman@generalmoly.com
or
Media
Zach
Spencer, 775-748-6059
zspencer@generalmoly.com
http://www.generalmoly.com
info@generalmoly.com
