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General Moly gains on permitting news as it battles funding woes

General Moly (TSX: GMO) has received some welcome good news in the form of federal permitting for its proposed molybdenum mine, as it battles funding woes after its major shareholder recently defaulted on a US$10 million investment.

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Good news follows bad for General Moly’s majority-owned Mt Hope project in Nevada. Image: Ray Ng

Good news follows bad for General Moly’s majority-owned Mt Hope project in Nevada. Image: Ray Ng

The company yesterday said it had received the federal record of decision, the final approval needed for its majority-owned $1 billion Mt Hope project in Nevada. "With the ROD now in hand, we are intensifying...

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