Order Placed For Mt. Hope Molybdenum Roaster

LAKEWOOD, CO - General Moly, Inc. reported that the Company, through its 80% owned subsidiary Eureka Moly LLC, has placed an order for two multi-hearth roasters with Hankin Environmental Systems, Inc. The roasters are capable of converting full Mt. Hope design production of molybdenite concentrate to Technical Grade Molybdenum (TMO). Total commitments for the roasters and off-gas handling system equipment are approximately $18 million and are consistent with costs identified in the Company's Bankable Feasibility Study. The roasters are expected to be delivered by June 2009 to allow for field installation well in advance of the commercial production of the Mt. Hope project estimated to commence in late 2010.
Bruce D. Hansen, Chief Executive Officer, said, "Building a roasting facility at Mt. Hope is an important value added investment for General Moly and a unique strategy among our peer companies. With over 38 million annual pounds produced at Mt. Hope over the first five years, it is important that the Company not rely on the contract roasting market, which has been costly and capacity constrained at times."
The Company, through Eureka Moly LLC, soon expects to place orders for the roaster's off-gas scrubbing system, which will be designed to capture more than 99% of sulfur emissions.
The company's address  is 1726 Cole Blvd., Suite 115, Lakewood, CO 80401, (303) 928-8599, fax: (303) 928-8598.