General Moly Stops Work on Loan Amid Questions About Creditor

Bloomberg reported that General Moly has suspended work supported on a $665 million loan on news that the creditor responsible for the loan has been detained in China, sending stock price tumbling yesterday.

As quoted in the market report:

The company is seeking clarification from Sichuan Hanlong Group about the reported detention of Liu Han, Lakewood, Colorado-based General Moly said in a statement. The stock fell 14 percent to $2.37 yesterday in after-hours trading in New York.

To view the whole Bloomberg report, click here.