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General Moly updates Mt. Hope capital cost estimate

General Moly announced an update to the Mt. Hope Project's capital cost estimate, which has increased by $130M or 11% in total to $1,284M of which $197M has already been spent. General Moly's 80% share of the increase is $104M. In addition, the company has entered into a non-binding letter of intent with Hanlong Mining to provide or arrange up to $125M in subordinated debt to supplement a previously announced $665M Chinese sourced term loan that is being negotiated with China Development Bank.