Molybdenum News Center

General Moly Will Have Some Actions after $14.3-million Loss

General Moly provided its unaudited second-quarter 2013 results, commenting that it incurred a net loss of $14.3 million, up from $2.7 million in the year-ago quarter.

An $11.5-million non-cash charge regarding a May warrant cancellation is the main reason for the loss. CEO of General Moly commented:

While we expect the financing process to take time, the Company has received interest from potential strategic investors both in and outside of China.

Multiple parties have signed non-disclosure agreements and are currently engaged in due diligence on the project.
 

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