General Moly, Inc.
(the "Company") (NYSE MKT: GMO) (TSX: GMO), a U.S.
based molybdenum mineral development, exploration and mining company, announced through its 80% owned Mt. Hope subsidiary, Eureka Moly, LLC, the initiation of preliminary construction activities including early well field development and clearing and grubbing of terrain that coincide with the Company’s ongoing cultural clearance efforts at its Mt. Hope Project in Eureka County, Nevada. A crew from Ames Construction, Inc. has been mobilized, and is initially focused on clearing the administrative office and mill site areas as well as clearing the water pipeline corridor in preparation for developing the well field and water distribution system to support heavy construction activities.
Bruce D. Hansen, Chief Executive Officer of General Moly, said, “We are pleased to start preliminary construction activities at Mt. Hope as we prepare for heavy construction in the spring. Our work plan emphasizes careful cost management, a timeline of continuous construction and close collaboration with all of our stakeholders to develop Mt. Hope in an environmentally and socially responsible manner.”
Bob Pennington, Chief Operating Officer of General Moly, said, “At this early stage, developing a robust infrastructure of communications, water management and office space is essential, and we expect to make rapid progress in each of these areas. In addition, we are moving forward on health and safety measures including our recent contracting for an onsite emergency response provider. We are also pursuing environmental priorities such as salvaging topsoil for use in reclamation and maximizing utilization of natural resources by supplying local communities with firewood from the trees we are harvesting during the clearing process.”
Mr. Pennington added, “We believe the Mt. Hope Project will become an important contributor to economic development and job opportunities in Northern Nevada for decades to come and have been gratified by the support we are receiving from the state and local community. Recently, a ceremony to bless the ground and the project was performed by the tribal elders and spiritual leaders of the Duckwater Shoshone Tribe.”