Press release from Business Wire
General Moly Appoints Michael A. Iannacchione as General Manager of Mt. Hope
Tuesday, April 05, 2011
LAKEWOOD, Colo. (Business Wire) -- General Moly, Inc. (NYSE Amex: GMO)(TSX: GMO) announced the appointment of Michael A. Iannacchione as General Manager of the Mt. Hope project. Mr. Iannacchione will be primarily responsible for building the Mt. Hope operating team, coordinating construction and start-up activities, managing local stakeholder relationships, and ultimately managing the operation of the Mt. Hope mine. His employment will begin May 23, 2011.
Mike joins the Company with 28 years of mining experience, predominately in Nevada. Most recently, Mike served as Operations Manager at Goldcorp's Marigold Mine near Battle Mountain, Nevada. In that role, Mike managed operation and maintenance activities targeting a 55 million ton per year production rate. Prior to that, Mike was Vice President and General Manager at the Round Mountain gold mine located in Round Mountain, Nevada, a joint-venture between Barrick Gold Corporation and Kinross Gold Corporation. Mike's other Nevada experience includes serving as Mine Superintendent at the Atlas Gold Bar Mine in Eureka, Nevada, as Mine Manager at the Robinson Mine in Ely, Nevada, and as Mine Engineer and Mine Shift Foreman at the Bald Mountain mine in Ely, Nevada.
Mike has a B.S. in Mine Engineering from the University of Nevada Reno as well as a substantial amount of safety, leadership, communication and crisis management training. Mike is active in the Society of Mining Engineers of AIME and is an inactive Professional Engineer in Nevada.
Bruce D. Hansen, Chief Executive Officer, said, "I am extremely pleased to have Mike join the General Moly team. His substantial experience in the mining industry, including startup operations, will be a great asset to our team as we finish permitting and construct the Mt. Hope project. Additionally, his substantial local relationships will help us continue to build positive stakeholder relationships in the Eureka community. I am confident that Mike will be able to build a world-class team at Mt. Hope and transition Mt. Hope into a world-class operation."
General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE Amex (formerly the American Stock Exchange) and the Toronto Stock Exchange under the symbol GMO. Our primary asset, our 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 our second molybdenum property, the Liberty project that is also located in central Nevada, our goal is to become the largest primary molybdenum producer by the middle of the decade. For more information on the Company, please visit our website at http://www.generalmoly.com.
Statements herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, political, operational and project development risks, including the Company's ability to obtain required permits to commence production and its ability to raise required financing, adverse governmental regulation and judicial outcomes. The closing of the Hanlong transaction and obtaining bank financing are subject to a number of conditions precedent that may not be fulfilled. For a detailed discussion of risks and other factors that may impact these forward looking statements, please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.
Seth Foreman, 303-928-8591
Zach Spencer, 775-748-6059