LAKEWOOD, Colo., Jan. 10, 2017 /CNW/ -- General Moly, Inc. (the
"Company" or "General Moly") (NYSE MKT and TSX: GMO), a U.S.-based
molybdenum mineral development, exploration, and mining company,
announced that effective May 12, 2017
Lee M. Shumway, Chief Financial Officer and Principal Accounting
Officer, will depart from the Company. Mr. Shumway informed
the Company last week that effective July 1,
2017 he has accepted the call from The Church of
Jesus Christ of Latter-day Saints to
serve as one of the Church's international mission
presidents. Through mid-May, Mr. Shumway will continue with
the Company in his current roles.
Bruce D. Hansen, Chief Executive
Officer of General Moly, said, "We support Lee's acceptance of this
call from his church. Lee and his family's affiliation and
service to their church and community exemplify the foundation of
Lee's leadership and support that he has shared with the Company
and the community over the past nine and half years. We wish
the best to Lee and his wife as they embark on this new
assignment. We will continue with our current management
structure in the interim, and will evaluate opportunities to fill
Lee's roles and responsibilities internally and externally over the
coming months.
Lee M. Shumway, Chief Financial
Officer of General Moly, said, "Although I am grateful to accept
the call of my church, it is difficult to depart from the
opportunities that have been presented to me at General Moly.
I continue to be excited for the future prospects of the Company
and its assets, the ongoing determination and skill of its
employees and the unwavering commitment of its board of
directors."
About General Moly
General Moly is a U.S.-based molybdenum mineral development,
exploration and mining company listed on the NYSE MKT and the
Toronto Stock Exchange under the symbol GMO. The Company's primary
asset, an 80% 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 wholly-owned Liberty Project, a
molybdenum and copper property also located in central Nevada, General Moly's goal is to become the
largest pure play primary molybdenum producer in the world.
Website:
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 a re-grant of its water permits and to maintain required
federal and state permits to continue construction, commence
production and its ability to raise required project financing, as
well as adverse governmental regulation and judicial outcomes such
as the recent review and decision concerning the Record of Decision
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.
Contact: Scott Roswell
(303) 928-8591
info@generalmoly.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/general-moly-announces-the-may-2017-departure-of-its-chief-financial-officer-300388293.html
SOURCE General Moly, Inc.