General Moly is the only pure-play, western-exchange traded molybdenum (“moly”) stock. The Company is a U.S.-based moly mineral exploration and development company, primarily focused on molybdenum.
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. POS-Minerals, a subsidiary of a major South Korean steel company, POSCO, owns the remaining 20% interest in the Mt. Hope Project.
The Company is also exploring for copper, silver and zinc at its Mt. Hope Project property and continues to pursue potential value-accretive acquisition opportunities jointly with its largest shareholder, AMER International Group (“AMER”) of China. Funded by AMER’s equity investment in General Moly, the General Moly team functions similarly to a merchant bank as they continue to evaluate potentially distressed and undervalued base metal and ferro-alloy assets.
Molybdenum (“moly”) is a metallic element essential as an alloy agent in steel manufacturing. When added to steel, moly enhances steel strength, resistance to corrosion, and extreme temperature performance. Moly-reinforced steel is pervasive in oil and gas from drill pipe to liquid natural gas (“LNG”) infrastructure and tankers. In the chemical and petrochemical industries, moly is used in catalysts, especially for cleaner burning fuels by removing sulfur from liquid fuels, and in corrosion inhibitors, high performance lubricants, and polymers.