Moly Mines Up 35% On Project Feasibility Update

Moly Mines Ltd. (MYMNF.PK) shares were up 35% Friday morning after the miner announced that the final feasibility study on its Spinifex Ridge molybdenum-copper project in Western Australia is expected to be released shortly.

Once the feasibility study is complete, Moly Mines will move directly into project implementation, including certain construction activities and the organizing and structuring of financing for the mine, according to a statement.

The company also said it is considering the possible 50% expansion of the mine from the initial base case pf 15 million tons per year to a possible 25 million tons per year.

Comments

[dcappe10:]

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-Cheers!

2007 Aug 07 04:47 PM