General
Moly, Inc. (the "Company") (NYSE MKT: GMO)(TSX: GMO), a U.S.-based
molybdenum mineral development, exploration and mining company,
announced that effective December 31, 2013, R. David Russell, Richard F.
Nanna and Andrew G. Sharkey III, will retire from the General Moly Board
of Directors. Director Russell has served on the Board since 2002,
Director Nanna since 2003, and Director Sharkey since 2009.
Bruce D. Hansen, Chief Executive Officer of General Moly, said, “The
remaining seven Directors and the Management of General Moly will miss
their service, guidance and wise counsel that has helped bring the
Company to a state of readiness to develop the Mt. Hope molybdenum
deposit.”
General Moly is a U.S.-based molybdenum mineral development, exploration
and mining company listed on the NYSE MKT (formerly the NYSE AMEX) and
the Toronto Stock Exchange under the symbol GMO. Our primary asset, our
interest in the Mt.
Hope Project located in central Nevada, is considered one of
the world's largest and highest grade molybdenum
deposits. Combined with our second project, the Liberty
Project, a molybdenum and copper property also located in central
Nevada, our goal is to become the largest pure play primary molybdenum
producer in the world. For more information on the Company, please visit
our website at http://www.generalmoly.com.
Forward-Looking Statements
Statements herein that are not
historical facts are “forward-looking statements” within the meaning of
Section 27A of the Securities Act, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended and are intended to be
covered by the safe harbor created by such sections. Such
forward-looking statements involve a number of risks and uncertainties
that could cause actual results to differ materially from those
projected, anticipated, expected, or implied by the Company. These risks
and uncertainties include, but are not limited to, metals price and
production volatility, global economic conditions, currency
fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, exploration risks and
results, political, operational and project development risks, including
the Company’s ability to maintain required permits to continue
construction, commence production and its ability to raise required
project financing, adverse governmental regulation and judicial
outcomes, including an appeal of the Record of Decision appeal of water
permits and estimates related to cost of production, capital, operating
and exploration expenditures. For a detailed discussion of risks and
other factors that may impact these forward looking statements, please
refer to the Risk Factors and other discussion contained in the
Company’s quarterly and annual periodic reports on Forms 10-Q and 10-K,
on file with the SEC. The Company undertakes no obligation to update
forward-looking statements.
Copyright Business Wire 2013