LAKEWOOD, Colo.--(BUSINESS WIRE)--General Moly, Inc. (the "Company") (NYSE MKT and TSX: GMO), a U.S.-based molybdenum mineral development, exploration and mining company, announced that effective May 25, 2015, Patrick M. James retired from the General Moly Board of Directors. Mr. James has been on an approved leave of absence, for personal reasons, since February 6, 2015. Mr. James has served as Chairman since he joined the Board in 2010. Ricardo M. Campoy, who has served as the Company’s Lead Director and interim Chairman during Mr. James’ leave of absence will continue in that role until the Board takes further action.
Bruce D. Hansen, Chief Executive Officer of General Moly, said, “Pat’s leadership and vision as well as his commitment to realizing General Moly’s significant potential has been critical to the Company’s development. General Moly is a stronger company, poised for future success and long-term sustainability, because of Pat’s support and stewardship.”
Patrick M. James, Chairman of the Board of General Moly, said, “My tenure with General Moly has only convinced me further about the excellence of the Company and its assets, the determination and skill of the management team and the dedication and commitment of the board of directors.”
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General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE MKT (formerly the NYSE AMEX) and the Toronto Stock Exchange under the symbol GMO. The Company’s primary asset, our interest in the Mt. Hope Project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with the Company’s second project, the Liberty Project, a molybdenum and copper property also located in central Nevada, our goal is to become the largest pure play primary molybdenum producer in the world. For more information on the Company, please visit our website at http://www.generalmoly.com.
Statements herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, political, operational and project development risks, including the Company’s ability to maintain required permits to continue construction, commence production and its ability to raise required project financing, adverse governmental regulation and judicial outcomes, including appeal of the Record of Decision and appeal of water permits and estimates related to cost of production, capital, operating and exploration expenditures. For a detailed discussion of risks and other factors that may impact these forward looking statements, please refer to the Risk Factors and other discussion contained in the Company’s quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.