Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
New owners will be announced over the weekend, just like when they dropped their filings over the weekend. Then people will be chasing on Monday, and will be fun to watch.
Of course, this is all just my opinion because nobody really knows until it happens.
When do we find out who the new owners are? I’m going to throw out a day and say Monday. What does everyone here say?
I think he meant to put in your bid for 32’s
They need to be able to go buy their Sclhlitz malt beer.
New owner will be announced shortly I would assume.
Did everyone fall asleep? Smilin? You taking a nap? Lol
Been a good week here so far. Hopefully the future is bright with GMO!
RELEASE THE KRAKEN!!!
Didn’t take long for this prediction to be busted, kinda like my March madness bracket. Lol
GM Sam, hope you’re ready for the ride here today.
Nice steal!!! Gonna pay off today! Let’s see if we can break into the 4’s today. Personally, I’d like to see this break new highs but that may be a little too ambitious for today but IMHO it’s coming soon.
Fantastic news, now who was it that told us we should dump at .0026? Guess that person will be chasing this morning. Too bad people want instant gratification and can’t wait a couple of days until the inevitable comes. Well, it’s here and it’s time to rock!
Post 11749
I think you should change your name to Stephen Wright with all the naps you take!
Those 28’s have been stubborn, not surprising someone is selling them. Once we break and hold that level, we will be off to the races IMHO.
PHOT’s books have been cookin for a while now.
TRDX is not showing termination has been granted.
So many people saying different things here, really wish someone would do an analysis on TRDX! LMMFAO!!!
I’ve been in and out of this for at least a decade. Might be time to load some more here.
I’m going to see what happened at the hearing or if it was delayed. I encourage others to write as well and maybe the judge will see there is interest in knowing what happened.
http://www.clarkcountycourts.us/departments/judicial/civil-criminal-divison/department-xv/
Hope that was mm signaling where they want to take this. Lol, we just need to wait on news. Anybody know if there’s a chance the custodianship hasn’t been released because the new company needs to be announced at the same time? Maybe next Monday? Just trying to figure out why we haven’t heard anything about custodianship hearing a couple days ago. Anybody have any insight or been through this before?
Absolutely! I’m having a great day today. Down a little here today, bet wrong on another ticker and a third got some fantastic news today so I’m just enjoying the penny stock ride. Let’s do it all again tomorrow.
On my companies WiFi and had to double check what website I was on with all this talk about lizards! LMAO!!!
Yup, they’re pissed because news didn’t drop yesterday, allowing them to drive it up even more and flip for a larger profit. They guessed wrong on this one. Long and strong on this one. Once RM candidate is announced is when the largest gains will be had and that’s how I’m playing this one.
GLTA
#TRDX
Welp. Back to no bid. This is in danger of being revoked. Needs filings soon or they’ll get CE.
Just weak hands fleeing because they didn’t get the news they were expecting so they could get their beer money. Still holding until RM is announced and the rest of this is all just people making pennies while we wait for dollars.
GLTA
#TRDX
News will come when nobody expects it and they will be chasing.
Doing a RS would be a violation of Lazars fiduciary responsibility and open himself up to anlawsuit and tarnish his sterling repuatation and possibly his ability to operate in this space in the future:
Any day now. Termination of custodianship should usher in new owner shortly.
Totally doable here. Someone else mentioned there was a Lazar play that went bitcoin and ran 1200%, would be an incredible ride for sure.
LAKEWOOD, COLORADO – May 14, 2019, General Moly, Inc. (the “Company” or “General Moly”) (NYSE AMERICAN and TSX: GMO), the only western-exchange listed, pure-play molybdenum (“moly”) development company, announced that the Mt. Hope Project joint venture company, Eureka Moly, LLC, (“EMLLC) has entered into a settlement agreement with a Kobeh Valley, Nevada ranching family (“Ranchers”), resolving the last set of protests pending before the Nevada State Engineer pertaining to the Mt. Hope Project’s water rights applications.
With this settlement and upon satisfaction of all associated conditions, the Ranchers have agreed to withdraw all of their protests and forfeit any rights to judicial review of the Nevada State Engineer’s anticipated approval of the water applications and issuance of water permits. Additionally, the Ranchers have agreed not to oppose any other proceedings with any state or federal agency related to the Mt. Hope Project.
Under this settlement, General Moly is working with the Nevada State Engineer to address potential permit terms for approval of the applications and receiving the water permits. EMLLC which operates the Mt. Hope Project, is owned 80% by General Moly and 20% by POS-Minerals Corporation, a subsidiary of POSCO of South Korea.
General Moly previously reached a settlement on protests filed by Eureka County and Diamond Natural Resources Protection & Conservation Association (“DNR”) at the start of the public hearing on the water applications before the Nevada State Engineer, which was completed in September 2018. With the settlement, Eureka County and DNR withdrew their protests and were excused from the hearing. (Further details are in the Company’s October 15, 2018 news release.)
When operational the Mt. Hope moly mine will be one of the largest primary moly mines in the world for potentially decades. Thus, throughout the Mt. Hope permitting process, over more than 10 years, General Moly has conscientiously sought to resolve protest issues by engaging with concerned parties in an open, fair, and fact-based dialogue, seeking viable long-term solutions while protecting the project’s economic value for all shareholders.
Progressing Towards a Fully Permitted Mt. Hope Project in 2019
Bruce D. Hansen, Chief Executive Officer of General Moly, remarked, “We are extremely pleased to have reached a compromise settlement with the Ranchers and have now resolved all remaining protests filed with the Nevada State Engineer to the water permit application for the Mt. Hope Project. We will continue to focus on the future development of the Mt. Hope moly mine for the economic betterment of the broader community and the state of Nevada.”
Commenting on the future, Mr. Hansen added, “We look forward to an even closer working partnership with our largest shareholder AMER International Group (“AMER”) with their anticipated further investment into our Company through the Tranche 3 $10 million private placement, conditioned upon the receipt of the Mt. Hope Project water permits. We are on the cusp of having the Mt. Hope Project fully permitted as the federal Bureau of Land Management is finalizing its review of public comments recently received on the draft Supplemental Environmental Impact Statement and preparing a final Supplemental Environmental Impact Statement ahead of issuing the anticipated Record of Decision later this year.”
AMER Tranche 3 Private Placement & Project Loan Support
Once the water permits are issued, AMER, based in Shenzhen, China, is obligated to subscribe to an additional Tranche 3 purchase of 20 million General Moly common shares priced at $0.50/share, providing General Moly with $10 million under the existing amended Securities Purchase Agreement. AMER will also help to source and guarantee a $700 million bank loan with Chinese banks for the development of the Mt. Hope Project. The remaining capital expenditures to build the Mt. Hope mine are $1.03 billion (100% basis) based upon an optional mine plan from an internal study using the 2014 Canada National Instrument 43-101 Technical Report Feasibility Study.
AMER is a non-ferrous metals and manufacturing conglomerate ranked as the 111th largest company in the world based on 2018 revenues of $72.8 billion, a 46.5% increase over 2017, according to the Fortune Global 500 ranking. AMER jumped ahead of companies like Panasonic, Mitsubishi, and Procter & Gamble from its previous ranking of 183rd in the world.
Improving Moly Market
The process to initiate financing for the construction of the Mt. Hope Project will be driven by the continuing improvement in moly prices and a robust moly market outlook. The CPM Group, a leading commodities research and consulting firm in New York, projects that global moly supply will fall into a deficit later in 2019 through 2022. CPM forecasts the average nominal moly price to increase from $13.36 per pound (“/lb”) in 2019 to $17.67 in 2022.
General Moly believes that improving fundamentals for moly supply and demand underpin strengthening moly prices, which are nearing levels conducive for optimal financing options for the Mt. Hope Project.
The current moly price at $12.33/lb is higher than the $11.88 price at end of 2018 and a 20% increase from $10.25/lb at the end of 2017. Global and China’s stainless-steel output, which is a major consumer of moly, remains steadfast.
Settlement Description
Having executed the settlement agreement, EMLLC is obligated to fund an initial payment of $1 million into a trust account; distribution to the Ranchers will be pending issuance of the water permits. Upon receipt of the dollars into the trust, the Ranchers have agreed to withdraw their protests and forfeit any judicial review of the anticipated approval of the water applications and issuance of the water permits from the Nevada State Engineer.
As discussed above, when the conditions exist, inclusive of the receipt of water permits, for EMLLC to secure project financing, additional consideration representing less than 1.5 % of the remaining project capital budget will be payable to the Ranchers. If EMLLC has not secured Mt. Hope project financing within 12 months of the executed settlement agreement, EMLLC will make monthly payments of $10,000 to the Ranchers until financing is achieved and the remaining consideration will be paid to the Ranchers.
Funding for the $1 million is to be advanced to EMLLC by General Moly, to preserve the joint venture’s existing reserve account. General Moly is sourcing $500,000 from its available cash, and will receive the remaining $500,000 from closing of a sale under the General Moly Preferred Convertible Shares private placement (further details are in the Company’s March 13, 2019 news release) with Mount Hope Mines Inc. (“MHMI”), the project’s claim/land lessor, anticipated later this week. The purchase agreement with MHMI also allows MHMI the option to partially or fully redeem the preferred shares and receive a minimum payment of six months of 5% annual dividend, upon the Company’s receipt of the AMER Tranche 3 funds. In exchange for General Moly advancing the $1 million initial funding, the EMLLC members have agreed to repay the $1 million advance from the proceeds of ongoing sales of non-critical EMLLC assets and lands.
*****
About General Moly
General Moly is a U.S.-based, molybdenum mineral exploration and development company listed on the NYSE American, recently known as the NYSE MKT and former American Stock Exchange, 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 primary molybdenum producer in the world.
Molybdenum is a metallic element used primarily as an alloy agent in steel manufacturing. When added to steel, molybdenum enhances steel strength, resistance to corrosion and extreme temperature performance. In the chemical and petrochemical industries, molybdenum is used in catalysts, especially for cleaner burning fuels by removing sulfur from liquid fuels, and in corrosion inhibitors, high performance lubricants and polymers.
Contact:
Scott Roswell
(303) 928-8591
I don’t even care to read it as I divested my interest in this company though I do follow this board out of morbid curiosity. What’s the 10-Q have to say? Anything new and positive?
Wow! Took a look at breakout boards and saw NDYN was #1, was sitting at .005, did RM into bitcoin and shot up to a high of .069. I wouldn’t mind something like that happening here. Seems like bitcoin is a hot market right now.
LETS GO TRDX!!!
Hopefully something good!
I guess we wait then. Hopefully we see something tomorrow.
Anybody having any luck getting any info from Clark county courts website? Every time I search, I get an error message and tells me to try again later.
Yeah, people got in late Friday or this morning to buy the rumor, sell the news but seems the news is being withheld for now. Kind of odd since NVSOS is very quick to update its site of any changes but not this time. I’m holding until the new owner is announced and will then make a decision on what my strategy will be. For now I’ll hold this and wait, been my plan all along. Hell, been here 9 years already, what’s a few more days/weeks/months. LOL
Control block was issued about a month back, signifying to many people that there’s possibly a new owner already in place. Hype around today is that the new owner could possibly be announced today though it’s possible that may take place later this week or we could wait even longer for that news. I hope new owners are announced today but won’t worry if it takes some time.
Tick tock, hearing in less than 30 minutes.
With all his tickers having some sort of action this week, we may crash that server! Hahahaha
GM TRDX! Should be an exciting day! Good luck to all and I hope you all make a ton of money!$$$$