General Moly Appoints Patrick James to Board of Directors as Non-Executive Chairman
General Moly (NYSE Amex: GMO) (TSX: GMO) announced that Patrick James
has been appointed to the Board of Directors. Mr. James will serve as
independent non-executive Chairman and will chair the Governance and
Nominating committee as well as serve on the Technical, Finance and
Compensation committees.
Mr. James has over 45 years of experience in the mining industry
including a variety of operating and executive positions. Mr. James
retired as President, Chairman and CEO of the Santa Fe Pacific Gold
Corporation when it was acquired by Newmont Mining in 1997 and served as
a Director of Newmont for one year thereafter. After leaving Santa Fe
Pacific Gold, Mr. James served as President and Chief Executive Officer
of Rio Algom Limited from 1997 to 2001. Since then, Mr. James has served
as a Director of four publicly listed mining companies including
Dynatech Inc., Constellation Copper Corp., Stillwater Mining Company,
and Centerra Gold Inc. He has served as Chairman of the Board on two of
those, and as Lead Director of another. Mr. James has an Engineer of
Mines degree from the Colorado School of Mines, a Master's of Management
from the University of New Mexico, Anderson School of Business, and is a
Registered Professional Engineer in Colorado.
Bruce D. Hansen, Chief Executive Officer, said, 'I am very pleased to
welcome Pat to General Moly as a Director. From a corporate governance
perspective, we have always felt the addition of a high-quality
non-executive Chairman would be value added, and Pat clearly fits the
bill with an immense amount of mining, project development, executive,
and Board level experience to General Moly. With this addition, our
Board will grow to nine, including seven independent Directors.'
General Moly is a U.S.-based molybdenum mineral development, exploration
and mining company listed on the NYSE Amex (formerly the American Stock
Exchange) and the Toronto Stock Exchange under the symbol GMO. Our
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 our second molybdenum property, the
Liberty project that is also located in central Nevada, our goal is to
become the largest primary molybdenum producer by the middle of the
decade. For more information on the Company, please visit our website at http://www.generalmoly.com.
Forward-Looking Statements
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 obtain required permits to commence production
and its ability to raise required financing, adverse governmental
regulation and judicial outcomes. The closing of the Hanlong transaction
and obtaining bank financing are subject to a number of conditions
precedent that may not be fulfilled. 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.
General Moly:
Investors
Seth Foreman, 303-928-8591
sforeman@generalmoly.com
or
Business
Development
Greg McClain, 303-928-8601
gmcclain@generalmoly.com
http://www.generalmoly.com
info@generalmoly.com