General Moly Reports Third Quarter Results

General Moly (NYSE:GMO,TSX:GMO) announced its third quarter results.

As quoted in the press release:

Net loss for the three months ended September 30, 2012 was $2.1 million ($0.02 per share), compared to a loss of $2.4  million ($0.03 per share) for the year ago period. Net loss for the nine months ended September 30, 2012 was $8.0 million ($0.09 per share), compared to a loss of $11.9 million ($0.13 per share) for the year ago period.

General Moly’s CEO, Bruce D. Hansen, said:

The Company is close to entering its next stage of development, pivoting aggressively from a successful permitting and financing process which is rapidly concluding, to the construction and development of the world-class Mt. Hope Project. We are prudently investing in the necessary people, processes and equipment as we pursue our goal of becoming the largest pure play primary molybdenum producer in the world.

To view the whole press release, click here.