Moly Mines Gains Support for Merger and Acquisition Strategy

Moly Mines Limited (TSX:MOL, ASX:MOL) that it has reviewed its merger and acquisition strategy with its major shareholder, Hanlong Group, who have maintained their support for the Company’s acquisition strategy.

As quoted in the press release:

As a consequence, the Company will focus its merger and acquisition strategy in the next six months on near term production opportunities that can be financed independently. Afterwards, when the appetite to commit additional funding is stronger, the Company will consider longer term opportunities that may be financed with Hanlong support as well as under the Strategic Alliance between the Company and China Development Bank signed in December 2011.

To view the whole press release, click here