"The history of Eureka lies in its future." - Lambert Molinelli, 1878

DISCLOSURE

The author/editor of the Eureka Miner owns common shares of local mining stocks, General Moly (GMO), McEwen Ming (MUX) and Newmont Mining (NEM); together with benchmark miner Freeport-McMoRan (FCX). Please do your own research, markets can turn on you faster than a feral cat.

Monday, November 19, 2012

General Moly Announces Receipt of RoD for Mt. Hope

** SPECIAL REPORT ***

Morning Miners,

This weekend I received a tip from a faithful reader that the Record of Decision for General Moly's Mt. hope project had been signed late Friday afternoon. Here is the link to that signed document:

MOUNT HOPE PROJECT RECORD OF DECISION, PLAN OF OPERATIONS APPROVAL,AND APPROVAL OF ISSUANCE OF RIGHT-OF-WAY GRANTS

This morning at 5:33AM(PT), General Moly (GMO) issued their press release:

General Moly Announces Receipt of the Record of Decision for the Mt. Hope Project Environmental Impact Statement (Press release, 11/19/2012)

Bruce D. Hansen, Chief Executive Officer of General Moly, said,

This is the culmination of six years of hard work and dedicated effort from our team and the BLM, with significant input from all the cooperating and commenting agencies and the general public to responsibly develop the world-class Mt. Hope Project. We along with our partners at POS-Minerals Corporation are very pleased to achieve this important permitting milestone, and want to thank our regulatory agency partners who have been so responsive and diligent in carrying out this process. We will continue working closely and collaboratively with all of our stakeholders to develop Mt. Hope in an environmentally and socially responsible manner.

With the receipt of the Record of Decision, and what we believe will be the relatively expeditious issuance of the Water Pollution Control Permit and Reclamation Permit from the State of Nevada Division of Environmental Protection, we expect to move aggressively from a successful permitting process, to finalizing our project financing, and initiating the construction and development of Mt. Hope. We anticipate that the Mt. Hope Project will become an important contributor to economic development and job opportunities in Northern Nevada for decades to come.

It's been a long, long road pardner. Congratulations to the General Moly team!

At 7:08 AM (PT), General Moly (GMO) is up a respectable 12.5% at $3.79 per share.

POSCO (PKX), 20% owner of Mt.Hope, is up 1.4% at $73.43 per share

Cheers,

Colonel Possum

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