General Moly Wins Permit to Construct Transmission Line Powering Mt. Hope Project
General Moly, Inc. (the "Company") (NYSE: GMO) a U.S.-based molybdenum mineral development, exploration and mining company, announced through its 80% owned Mt. Hope subsidiary, Eureka Moly, LLC, that the Public Utilities Commission of Nevada (“PUCN”) has granted a permit to construct a 230 kV power line that interconnects with Nevada Energy's transmission system at the existing Machacek Substation located near the town of Eureka, NV and extend it approximately 25 miles to the planned Mt. Hope Substation. In addition, the Bureau of Land Management (“BLM”) has notified the Company that its surety bonds were approved for Rights-of-Way grants for the 230 kV power transmission line.
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