11/08/2008 - 16:55

Moly Mines in trading halt

11/08/2008 - 16:55

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Shares in Moly Mines Ltd have been placed in a trading halt pending an announcement relating to financing activities potentially concerning its Spinifex Ridge molybdenum project.

Moly Mines in trading halt

Shares in Moly Mines Ltd have been placed in a trading halt pending an announcement relating to financing activities potentially concerning its Spinifex Ridge molybdenum project.

In a brief statement to the market earlier today, the company had expected to release a statement before the close of business this afternoon.

The project is scheduled for first production in early 2010 which is subject to the company achieving full project financing during the second half of this year.

In June, Moly secured a 10-year offtake agreement with German steel maker ThyssenKrupp which also agreed to participate in the equity financing of the project subject to board approvals.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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