General Moly Inc. (TSX:GMO,NYSEMKT:GMO) updated the operating cost estimate and project economics for its Nevada-based Mt. Hope project, commenting that over the first full five years of operation, direct operating costs are expected to average $6.28 per pound, while costs applicable to sales should average $7 per pound.
Moly Company News Directory
Institutional Shareholder Services (ISS) and Glass Lewis & Co. have recommended that Avanti Mining Inc. (TSXV:AVT) shareholders vot in favour of the US$50 million Preconstruction Loan from Resource Capital Fund VI L.P. The Company will hold a shareholders meeting to approve the Facility on December 18, 2013.
Foster Wheeler AG (NASDAQ:FWLT) announced that a contract for "engineering, procurement and related services" for a grassroots, Chile-based molybdenum refinery has been awarded to a subsidiary of its Global Engineering and Construction Group. The contract was awarded by an affiliate of CODELCO, and the new facility will be one of the largest of its kind.
Caravel Minerals Ltd. (ASX:CVV) announced that reverse-circulation drilling will begin this week at its flagship Calingiri copper-moly project, located in Australia.
Avanti Mining Inc. (TSXV:AVT) amended the terms of its binding and committed term sheet with Resource Capital Fund VI L.P. to increase the secured preconstruction loan from US $40,000,000 to US $50,000,000 (the Facility). The Company will hold a shareholders meeting to approve the Facility on December 18, 2013
Copper Fox Metals Inc. (TSXV:CUU) provided, via its subsidiary, Desert Fox Minerals Co., an update on the geochemical sampling and surface mapping program taking place at the Sombrero Butte copper project, located in Arizona's Bunker Hill Mining District 44. Highlights include the identification of two large areas of "elevated geochemical concentrations of copper and molybdenum with vein controlled copper-molybdenum mineralization."
Avanti Mining Inc. (TSXV:AVT) further optimized the February 2013 Feasibility Study Update prepared by AMEC on its Kitsault property in British Columbia. The optimization started with a new mine plan that included new capital and operating cost estimates.
Thompson Creek Metals Company Inc. (TSX:TCM,NYSE:TC) announced its financial results for the three and nine months ended September 30, 2013, commenting that during Q3, its net income came to $13.8 million, up from a net loss of $48.2 million in the year-ago quarter, while its consolidated revenue came to $90.8 million, up 21 percent from the same period in 2012.
Discovery Ventures Inc. (TSXV:DVN) announced that the TSX Venture Exchange has given it conditional approval to acquire all the issued and outstanding shares of FortyTwo Metals Inc., a subsidiary of Roca Mines Inc. (TSXV:ROC). The Max mine, located in British Columbia, is one of FortyTwo's assets.
General Moly Inc. (TSX:GMO,NYSEMKT:GMO) announced its unaudited financial results for its third quarter, which ended on September 30, 2013. Its net income came in at $2.6 million, or $0.03 per share, up from a net loss of $2.1 million, or $0.02 per share, in the year-ago period.