General Moly Continues To Place Long-Lead Equipment Orders

 

LAKEWOOD, CO - General Moly Inc. reported that through its 80% owned subsidiary Eureka Moly LLC, has placed orders for two 44 cubic-yard P&H 2800XPC Shovels from P&H Mining Equipment Inc. An initial deposit payment of $2 million has been made and the total cost of the shovels remains in line with the Company's Bankable Feasibility Study. The Letter of Award provides for shipment of the two shovels in May 2009 and October 2009, respectively, and commissioning at the Mt. Hope site within five months of shipment. The Company's feasibility study identified the need for a total of three electric shovels for Mt. Hope. The two P&H electric shovels will be supported by other, more mobile, hydraulic loading equipment providing for pre-development mining flexibility during the initial open pit operations.

The company's address is 1726 Cole Blvd., Suite 115, Lakewood, CO 80401, (303) 928-8599, fax: (303) 928-8598.