General Moly, Inc. (the "Company") GMO, a U.S.-based
molybdenum mineral development, exploration and mining company, announced
through its 80% owned Mt. Hope subsidiary, Eureka Moly, LLC, the initiation of
preliminary construction activities including early well field development and
clearing and grubbing of terrain that coincide with the Company's ongoing
cultural clearance efforts at its Mt. Hope Project in Eureka County, Nevada. A
crew from Ames Construction, Inc. has been mobilized, and is initially focused
on clearing the administrative office and mill site areas as well as clearing
the water pipeline corridor in preparation for developing the well field and
water distribution system to support heavy construction activities.
Bruce D. Hansen, Chief Executive Officer of General Moly, said, “We are
pleased to start preliminary construction activities at Mt. Hope as we prepare
for heavy construction in the spring. Our work plan emphasizes careful cost
management, a timeline of continuous construction and close collaboration with
all of our stakeholders to develop Mt. Hope in an environmentally and socially
responsible manner.”
Bob Pennington, Chief Operating Officer of General Moly, said, “At this early
stage, developing a robust infrastructure of communications, water management
and office space is essential, and we expect to make rapid progress in each of
these areas. In addition, we are moving forward on health and safety measures
including our recent contracting for an onsite emergency response provider. We
are also pursuing environmental priorities such as salvaging topsoil for use
in reclamation and maximizing utilization of natural resources by supplying
local communities with firewood from the trees we are harvesting during the
clearing process.”
Mr. Pennington added, “We believe the Mt. Hope Project will become an
important contributor to economic development and job opportunities in
Northern Nevada for decades to come and have been gratified by the support we
are receiving from the state and local community. Recently, a ceremony to
bless the ground and the project was performed by the tribal elders and
spiritual leaders of the Duckwater Shoshone Tribe.”
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