General Moly, Inc. (AMEX:GMO,TSX:GMO) announced financial results for the first quarter of 2012.

As quoted in the press release:

Our cash balance at the end of the first quarter was $35.1 million compared to $40.7 million at the end of 2011. During the first quarter, cash use of $5.6 million was the result of $4.0 million in Mt. Hope Project development, engineering and procurement costs, $2.1 million in General and Administrative expenses, partially offset by $0.5 million in proceeds from stock option exercises.

Click here for the General Moly, Inc. (AMEX:GMO) press release.