TORONTO, ONTARIO--(Marketwired - Jan 29, 2016) - Moly Mines Limited (ASX:MOL) reports the highlights of their Quarterly Activities Report and Quarterly Cashflow Report for the period ending December 31, 2015.
HIGHLIGHTS (all amounts are in A$ unless otherwise stated)
- Operational activities were confined to maintaining the Spinifex Ridge infrastructure in good condition and monitoring of the rehabilitated areas of the Iron Ore Project
- A number of outstanding issues from the Iron Ore project were progressed. The final payment of the Spinifex Ridge Iron Ore sale will be determined by arbitration.
- The Spinifex Ridge Molybdenum / Copper Project remains on care and maintenance.
Corporate and Finance (unaudited):
- Cash on hand at end of Quarter was $69.1M in cash, down from $72.7M at end of previous Quarter.
- Moly continues to review a range of M&A opportunities both within Australia and overseas.
- No exploration activity was undertaken on Moly Mines tenements during the Quarter.
The full Quarterly Activities Report and Quarterly Cash Flow Report are available on the Company website (www.molymines.com) and on SEDAR (www.sedar.com).