LAKEWOOD, Colo., April 30, 2018 /CNW/ -- General Moly, Inc. (the "Company" or "General Moly") (NYSE American andTSX: GMO), the only western-exchange listed, pure-play molybdenum mineral development company, invites shareholders and visitors to explore its new website at www.generalmoly.com to stay informed about the rising molybdenum ("moly") market and the Company.
The new website offers improved functionality, broader content, and the latest corporate information as well as a mobile-friendly platform. Generalmoly.com also features moly market updates and the Moly Bits blog by CEO Bruce D. Hansen, commenting about the market factors and macro-economic drivers.
Mr. Hansen said, "We are excited to roll out our new website to broaden our communications reach. The website helps to showcase our premier primary moly assets of the Mt. Hope and Liberty projects in Nevada, and shine a spotlight on improving moly demand and supply fundamentals in the prevailing moly price recovery, currently in the $12/lb range. As approximately 45% of moly end use is in the energy and transportation sectors, moly will continue to benefit from higher specialty steel production serving the increased oil sector drilling and global energy infrastructure expansion."
Those interested in timely news updates from the Company are invited to subscribe to the Company's Email Alerts with a menu including news releases, presentations, and Moly Bits. Subscribers may cancel at any time.
About General Moly
General Moly is a U.S.-based, molybdenum mineral exploration and development company listed on the NYSE American ("NYSE AMER"), recently known as the NYSE MKT and former American Stock Exchange, 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 of molybdenum, copper, silver, lead or zinc, ability to identify any economic mineral reserves of copper, silver, lead or zinc; ability of the Company to obtain approval of its joint venture partner at the Mt. Hope Project in order to mine for copper, silver, lead or zinc, ability to raise required project financing or funding to pursue an exploration program related to potential copper, silver lead or zinc deposits at Mt. Hope, 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.
SOURCE General Moly, Inc.