December 07, 2012 at 09:59 AM EST
General Moly Receives $100 Million Payment from Joint Venture Member POS-Minerals to Kick Start Mt. Hope
General Moly Inc (TSX:GMO, NYSE:GMO) announced that its subsidiary Eureka Moly, LLC received a third contribution payment in the amount of $56 million from POS-Minerals . Also, POS-Minerals delivered a catch-up contribution in the amount of $44 million. These funds are to be used to begin construction at the Mt. Hope Project.
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