Molybdenum News Center

The Main Reason for General Moly $14.3-million Loss

Excluding restricted cash, General Moly’s cash balance at June 30, 2013 was approximately $35 million compared to $68 million at December 31, 2012 and $57 million at March 31, 2013.

During the second quarter, cash use of $24 million was the result of Mt. Hope Project development costs (site clearing and grubbing, pipeline development, cultural clearance and engineering) .

As well as general and administrative expenses partially offset by the receipt of $2 million in contribution payments from POS-Minerals Corporation.
 

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