Moly Mines Reports Quarter Highlights

ID: 1449809
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(businesspress24) - TORONTO, ONTARIO -- (Marketwired) -- 07/29/16 -- Moly Mines Limited (ASX: MOL) ("Moly" or "the Company") reports the highlights of their Quarterly Activities Report and Quarterly Cashflow Report for the period ending June 30, 2016.

HIGHLIGHTS (all amounts are in A$ unless otherwise stated)

Operations (unaudited)

The Spinifex Ridge facilities and infrastructure remains in good condition.

The arbitration on the final payment for the Spinifex Ridge Iron Ore sale is likely to be heard in the second half of 2016.

The Spinifex Ridge Molybdenum / Copper Project remains on care and maintenance.

Corporate and Finance (unaudited)

Cash on hand at end of the Quarter was $65.8 M, up from $65.4 M at end of previous Quarter.

Moly Mines continues to review a range of M&A opportunities both within Australia and overseas and has undertaken a significant amount of due diligence on possible opportunities.

Exploration

No exploration activity was undertaken on Moly Mines tenements during the Quarter.

The full Quarterly Activities Report and Quarterly Cash Flow Report are available on the Company website() and on SEDAR ().

Contacts:
Moly Mines Limited
Natalie Frame
Investor Relations
+1 416 371 7541


Moly Mines Limited
Graeme Kininmonth
CEO
+61 8 9429 3300



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Date: 07/29/2016 - 05:00
Language: English
News-ID 1449809
Character count: 2697
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Firma: Moly Mines Limited
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Stadt: TORONTO, ONTARIO
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