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Moly Mines Reports 1 Million Tonnes of Iron Ore Shipments Achieved

Moly Mines Limited (MOL.TO), which ended yesterday's session just a cent above year low 32 cents, today confirmed the shipment of the one millionth tonne of iron ore fines from the Spinifex Ridge Iron Ore Mine. The milestone has occurred within 12 months of the mine's first shipment on 30 December 2010.

CEO and Managing Director Dr Derek Fisher said: "we are proud of the mine's performance this year and our operations staff are to be congratulated. The mine has consistently exceeded performance targets and generated significant cashflow for the Company".

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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