LAKEWOOD, Colo., Sept. 8, 2017 /PRNewswire/ -- General Moly, Inc. (the "Company" or "General Moly") (NYSE MKT and TSX: GMO) will participate at the Rodman and Renshaw Annual Global Investment Conference in New York, September 11-12, 2017.
Robert Pennington, Chief Operating Officer for General Moly, will present at the conference at 10:50 a.m. on September 12, 2017 and also be available to meet with investors. Mr. Pennington will comment on the improving molybdenum market and provide an update on General Moly, including the recently announced amendment to the stock purchase agreement with its largest shareholder, AMER International Group ("AMER") of China, accelerating the close of the $6.0 million Trance 2 private placement, at an average weighted volume price of $0.41 per share. The Company and AMER agreed on the closing of Tranche 2 by September 30, 2017. Mr. Pennington will also discuss progress on completing the Draft Supplemental Environmental Impact Statement with the Bureau of Land Management ("BLM"), as the Company works towards receiving a Record of Decision from the BLM for the Mt. Hope Project in Nevada.
A copy of the presentation will be posted on the Company's website.
About General Moly
General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE MKT and the Toronto Stock Exchange under the symbol GMO. The Company's primary asset, an 80% 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 the Company's wholly-owned Liberty Project, a molybdenum and copper property also located in central Nevada, General Moly's goal is to become the largest primary molybdenum producer in the world.
Molybdenum is a metallic element used primarily as an alloy agent in steel manufacturing. When added to steel, molybdenum enhances steel strength, resistance to corrosion and extreme temperature performance. In the chemical and petrochemical industries, molybdenum is used in catalysts, especially for cleaner burning fuels by removing sulfur from liquid fuels, and in corrosion inhibitors, high performance lubricants and polymers.
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 obtain a re-grant of its water permits and Record of Decision, ability to maintain required federal and state permits to continue construction, and commence production, ability to raise required project financing, ability to respond to adverse governmental regulation and judicial outcomes, and ability to maintain and /or adjust 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.
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SOURCE General Moly, Inc.