General Moly Inc. Cleared For Surface Digging, Building Construction at Mt. Hope Project Site

By Staff,

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General Moly Inc. ( GMO ) is steady at $3.70 a share in after-hours trading. The mining company said the State of Nevada Division of Environmental Protection has issued a Reclamation Permit for the company's Mt. Hope molybdenum project.

The new permit allows GMO to dig up the ground surface and built facilities, contingent on the company detailing the reclamation methods to be used to return the land to safe and stable conditions and a productive post-mining land use. The Reclamation Permit also approved reclamation cost estimates of about $73 million, establishing bonding requirements based on the estimate.

GMO trades in a 52-week range of $2.41 - $4.14.

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This article appears in: Investing Commodities
Referenced Stocks: GMO

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