Moly Mines Reports Results of Annual General Meeting
TORONTO, ONTARIO -- (Marketwire) -- 11/24/10 -- Moly Mines Limited (TSX: MOL)(ASX: MOL) advises that each resolution considered at the Annual General Meeting of shareholders, held in Perth WA on November 24 (November 23 EST) was passed by the requisite majority on a show of hands.
A copy of the Annual General Meeting presentation is available on the Company website at www.molymines.com
In accordance with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act, the details of the resolution, the proxies received and results in respect of each resolution were as follows:
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Resolution For Against Proxy's Abstain Excluded
Discretion
1. Adoption of 212,228,461 2,504,854 1,178,538 287,865 -
Remuneration
Report
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2. Re-election of 212,455,371 1,964,388 1,173,088 35,861 -
Mr Nixon
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3. Election of Mr 214,147,310 202,836 1,157,112 121,450 -
Xiao
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4. Election of Mr 214,143,901 228,582 1,144,775 111,450 -
Liu Han
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5. Election of Mr 214,083,692 319,717 1,144,775 80,524 -
Zhmurovsky
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6. Election of Mr 214,244,365 115,403 1,144,775 124,165 -
Prosser
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7. Election of Mr 214,182,492 244,380 1,153,925 47,911 -
Braham
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8. Approval of 6,804,887 360,237 1,171,020 156,918 207,135,646
the issue of
options to
Hanlong Mining
Investment Pty
Ltd.
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9. Approval of 7,074,856 152,676 1,146,520 119,010 207,135,646
Iron Ore Sales
Agreement with
Hanlong Metals
Limited
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All resolutions were passed on a show of hands.
This news release includes 'forward-looking statements' as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond Moly Mines' control. These forward- looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding Moly Mines' future expectations. Readers can identify forward-looking statements by terminology such as 'aim,' 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'risk,' 'should,' 'will' or 'would' and other similar expressions. Risks, uncertainties and other factors may cause Moly Mines' actual results, performance, production or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include the failure to complete and commission the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned; variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and the Australian dollar; failure to recover the resource and reserve estimates of the Project; the failure of Moly Mines' suppliers and service providers to fulfill their obligations under construction, supply and tolling agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labor shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information
Contacts:
Moly Mines Limited
Natalie Frame
Investor Relations
1 416 777 1801
1 416 371 7541
Moly Mines Limited
Derek Fisher
Managing Director
61 8 94293300
www.molymines.com