More than a billion lbs of molybdenum was expected from the Nevada, United States-based mine, 80% owned by General Moly.
The Colorado, US-based exploration firm did not respond to Fastmarkets’ request for comment on the project’s viability on this or earlier occasions this year.
General Moly filed for Chapter 11 bankruptcy protection on Wednesday November 18 and changed its top management that day, according to an announcement
that also said trading of the company stock (“GMO”) was suspended.
General Moly also restructured $1.4 million in debt to allow it continue operating, it said.
Bruce Hansen, chief executive officer, resigned on Wednesday and was replaced by Thomas Kim as interim chief executive, the statement said. Kim, a business consultant with r2 Advisors, also holds the new title...