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.
Financing of Moly Mines Ltd's $1.1 billion Spinifex Ridge project has been given a boost after the environment minister today gave the go ahead for the project to proceed.
Moly Mines has announced a major expansion of its Spinifex Ridge molybdenum/copper resource with an increase of more than 100 per cent in its resource tonnage results.
West Perth-based Moly Mines Ltd's Spinifex Ridge molybdenum project faces delays of at least three months after the company disclosed that it had been unable to complete its financial negotiations and its regulatory approvals in line with its original sch
Moly Mines Ltd has awarded a $1.1 billion, seven year mining and earthmoving contract for the Spinifex Ridge Molybdenum Project to Perth-based contracting group Macmahon Holdings Ltd.
Moly Mines Ltd has called on global investment banks JPMorgan and Morgan Stanley to help in the proposed financing of its $1.1 billion Spinifex Ridge Molybdenum project.
Moly Mines Ltd has become the latest Western Australian mining company to gain backing from US investment group Harbinger Capital, which has also invested in Fortescue Metals Group, Poseidon Nickel and Po Valley Energy.
Moly Mines Ltd this week showed it was not unique in the resources sector despite its project being the first molybdenum mine to be developed in Australia.
Moly Mines Ltd intends to produce molybdenum from its Spinifex Ridge project by July 2009 after today revealing the results of a definitive feasibility study showing the project was economically viable despite its capital cost jumping to $1.07 billion.
West Perth-based Moly Mines Ltd has signed a native title agreement with the Njamal people of the Pilbara, ahead of the planned release of its feasibility study into the $600 million Spinifex Ridge project later this month.
West Perth-based Moly Mines Ltd has appointed local firm Azure Capital as corporate finance adviser for its $600 million Spinifex Ridge molybdenum project, effectively replacing United States merchant bank Taylor-DeJongh.
West Perth-based Moly Mines Ltd has entered into a trading halt while it considers a third party offer to purchase gold assets owned by subsidiary Big Island Mining Ltd.
