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The Company is in the business of the exploration, development and, if warranted, the mining of properties containing molybdenum, as well as silver, gold, base metals and other specialty metals.
As the world economy rebounds over the next several years, scarcity of many resources will develop later in the decade. Molybdenum, which is added to iron ore to make steel, is in short supply. General Moly is in the final stages of opening up production of a new mine (Mt. Hope) and early stages of another (Liberty) in Nevada. Similar companies with similar balance sheets fetch strong share prices compared to GMO which is pre-profit. The Chinese bought 20% of the company the day after I bought in (lucky me) to make sure they get their share of moly. Do you got moly?
There appear to be two catalysts getting closer: 1. Approval of all necessary permits.2. Significant m&a activity in the mining space.I would be surprised if GMO is not over $10 within 3-5 years, making it a screaming buy at under $5.
The company has finally begun construction of it's Mr. Hope project and is likely to run to upper single digits within a year or two as production approaches. See company news.
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