Moly Mines Announces Highlights from Quarterly Report

Moly Mines Limited (TSX:MOL, ASX:MOL) announced highlights from their quarterly report.

As quoted in the press release:

Action taken in September 2012 to address the sudden fall in iron ore prices in late August. Planned September 2012 shipment deferred until October avoiding bottom of iron ore prices. Mining activities slowed to reduce mine site operating costs. Planned pre-strip mining activities deferred into 2013. Shipping schedule to be maintained through to March 2013 by accelerated drawdown of ore stockpiles. Sales target for the calendar year revised to 970,000t.

To view the whole press release, click here.