Moly – Marengo Mining Ltd. (TSX:MRN,ASX:MMC) provided an update on its Papua New Guinea-based Yandera copper-molybdenum-gold project, commenting that before a final feasibility study can be prepared, the company needs to identify an alternative cost-competitive source of power for the project. That's because Marengo's preferred third-party power provider has backed out of the proposed arrangements for power supply.
Moly – General Moly Inc. (TSX:GMO,AMEX:GMO) provided an update on its finances, noting that it has terminated its $125-million subordinated loan agreement with Hanlong (USA) Mining Investment Inc.; the loan was intended to help finance General's Mount Hope project and the termination was mutual.
Moly – Cache Exploration Inc. (TSXV:CAY) announced that it received positive results from reassaying 2012 drill core for molybdenum. The company's new sampling shows that moly mineralization includes 3.23 meters from 20.7 to 23.93 meters containing 0.24-percent moly.
Moly – Amerigo Resources Ltd. (TSX:ARG) released its results for the first quarter of 2013, noting that it produced 258,301 pounds of molybdenum, a 19-percent increase compared to the year-ago quarter. Its copper production fell by 8 percent, to 12.8 million pounds.
Moly – iStockAnalyst reported that disruptions in the financing of General Moly Inc.'s (TSX:GMO) Mount Hope project have caused a correction in the company's share price. So far its shares are down 56 percent year-on-year.
Moly – General Moly Inc. (TSX:GMO) released its unaudited financial results for the first quarter of 2013, commenting that it saw a net loss of $3 million for the period, slightly less than the $3.2 million it lost in the year-ago period.
Moly – The Denver Post reported that the US Forest Service has approved US Energy Corp.'s (NASDAQ:USEG) mine plan of operations for its Colorado-based Mount Emmons molybdenum project. The company has been trying to mine the project’s Red Lady mineral deposit since 1970, but until now has met with opposition from residents.
Moly – The Denver Business Journal reported that shares of General Moly Inc. (TSX:GMO,AMEX:GMO) rose 11.8 percent on Thursday, making it the best-performing Colorado stock.
Moly – Moly Mines Limited (TSX:MOL,ASX:MOL) announced the highlights from their Quarterly Activities Report and Quarterly Cashflow Report for Q1 2013.
Moly – Avanti Mining Inc. (TSXV:AVT) announced payment of C$25,000 and issuance of 75,000 Avanti common shares to Nicholas Carter pursuant to a purchase and sale agreement of a 100% interest in two mineral claims located in Kitsault, British Columbia, Canada.
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