General Moly (GMO) Gives Highlights of Pre-Feasibility Study on Liberty Project, NPV Estimated at $538M
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General Moly, Inc. (Amex: GMO) announced the completion of an updated Pre-Feasibility Study of its 100%-owned Liberty project, which estimates production, capital and operating cost parameters along with project economics. A NI 43-101 compliant report containing further information on the Liberty project will be filed on SEDAR.
View the release to see some highlights from the study.
Bruce Hansen, CEO of General Moly, said, "I am very pleased with the outcome of the Liberty pre-feasibility study update. Our Liberty project continues to represent a world-class moly property and one that provides General Moly shareholders with a significant growth profile as we continue to focus on building the world's largest publicly-traded primary moly company. While our immediate focus remains on finalizing the Mt. Hope project's permitting and financing, our team will also advance Liberty toward production.
"Although we used a $2.50 per pound copper price assumption in our resource and economic models, I should note that at current copper prices near $3.50 per pound, operating costs at Liberty would be below $5 per pound moly over the first five years of operations and the project's NPV would increase to approximately $630 million, or $5.71 per fully-diluted share (including shares anticipated to be issued to Hanlong), which is over 60% higher than our current share price, completely ignoring the $1.2 billion Net Present Value of Mt. Hope."
View the release to see some highlights from the study.
Bruce Hansen, CEO of General Moly, said, "I am very pleased with the outcome of the Liberty pre-feasibility study update. Our Liberty project continues to represent a world-class moly property and one that provides General Moly shareholders with a significant growth profile as we continue to focus on building the world's largest publicly-traded primary moly company. While our immediate focus remains on finalizing the Mt. Hope project's permitting and financing, our team will also advance Liberty toward production.
"Although we used a $2.50 per pound copper price assumption in our resource and economic models, I should note that at current copper prices near $3.50 per pound, operating costs at Liberty would be below $5 per pound moly over the first five years of operations and the project's NPV would increase to approximately $630 million, or $5.71 per fully-diluted share (including shares anticipated to be issued to Hanlong), which is over 60% higher than our current share price, completely ignoring the $1.2 billion Net Present Value of Mt. Hope."
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