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Moly Mines leading TSX gainer Add to ...

Moly Mines Ltd. is the leading TSX gainer Friday afternoon, after saying that a final feasibility study on its Spinifex Ridge molybdenum-copper project in Western Australia is expected to be released soon. Studies have also begun for the possible 50 per cent expansion of the mine to a possible 25 million tonnes a year from an initial base-case 15 million tonnes, it adds. Production at Spinifex is scheduled to begin in 2009. The stock earlier soared to a 52-week high of $6.35, before settling at $5.93, up $1.23 or 26 per cent.

 

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