RE:RE:RE:Wondering MOLY
MINES
LIMITED
46-
50 Kings Park Road
, West Pert
h
Western Australia 6005
PO Box 8215, Subiaco East
Western Australia 6008
Telephone +61 8 9429 3300
Facsimile +61 8 9429 3399
Email info@molymines.com
ABN 32 103 295 521
2 November
2016
Notification
of a ‘Superior Proposal’
from Gulf Alumina
Moly Mines Limited (ASX: MOL)
(‘Moly’)
advises that on 1 November 2016 it
received notification from
the Board of Gulf Alumina Limited (‘Gulf’) regarding the takeover off
er by Metro Mining Lim
ited
(ASX:MMI).
Gulf directors advise they have determined Metro’s offer to be a ‘Superior Proposal’ to the previously
-
recommended takeover
proposal by
Moly.
Under the terms of the Offer Implementation Agreement between Moly and Gulf, Moly
now has 5
busine
ss days in which to match Metro’s
offer
, before
the
Gulf Directors can withdraw their
recommendation of Moly’s offer.
Accordingly, Moly is currently considering its position and will respond with
in the required timeframe