One of the largest and highest grade primary molybdenum deposits in the world
General Moly is a molybdenum mineral exploration and development company. Further, the Company’s primary asset, an 80% interest in the Mt. Hope Project located in central Nevada, is considered to be one of the world’s largest and highest grade molybdenum deposits.
What is Molybdenum?
Molybdenum is a metallic element used primarily as an alloy agent in steel manufacturing. When added to steel, molybdenum enhances steel strength, resistance to corrosion and extreme temperature performance. In the chemical and petrochemical industries, molybdenum is used in catalysts, especially for cleaner burning fuels by removing sulfur from liquid fuels, and in corrosion inhibitors, high performance lubricants and polymers.
“General Moly is really the only pure-play, listed molybdenum development company out there.” says CEO, Bruce Hansen.
Mt. Hope Project
The Mt. Hope Project is one of the largest and highest grade primary molybdenum deposits in the world. The project is owned and operated by Eureka Moly, LLC , of which General Moly has an 80% interest and POS-Minerals Corporation, a subsidiary of the South Korean steel company POSCO, has a 20% interest.
Moreover, the Mt. Hope deposit, measuring 1,500 feet in diameter, is centered in an elevated area of igneous rock. In fact, the economic mineral is molybdenite. In addition, the Mt. Hope molybdenum porphyry deposit is similar to the Climax deposit in Colorado.
Markedly, the principal moly host rock is quartz porphyry with a well-developed quartz vein stockwork. Approximately 20% of the mineralization occurs in metamorphosed sedimentary rocks, principally hornfels. The ore zones in the quartz porphyry and meta-sedimentary rocks also have molybdenite emplaced along the well-developed quartz stockwork veins.
Combined with the Company’s wholly-owned Liberty Project, a molybdenum and copper property also located in central Nevada, General Moly’s goal is to become the largest primary molybdenum producer in the world.
“Moly is approaching a significant supply deficit and we’re really the play for investors to look at the moly space”, says Hansen.
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