BANGALORE, March 5 (Reuters) - General Moly Inc (GMO.TO)posted a narrower fourth-quarter loss and said it securedinvestment from a major Chinese mining group to fully fund itsMt. Hope molybdenum project in central Nevada, sending itsshares up 53 percent to a 17-month high.
General Moly entered into an investment deal with Hanlong(USA) Mining Investment Inc, a unit of privately held SichuanHanlong Group.
Hanlong, which last year announced a deal to acquiremajority stake in Australian base minerals explorer Moly MinesLtd (MOL.AX) (MOL.TO), will also guarantee a senior securedterm loan of $665 million to be procured from a Prime ChineseBank.
https://www.reuters.com/article/idUSSGE6240HU20100305