Moly Mines Limited: Hanlong Investment Settlement Update

- March 25th, 2010

Moly Mines Limited (TSX:MOL)(ASX:MOL) reported that the company has received notification from Hanlong Mining Investment Pty Ltd (Hanlong) that it plans to settle the US$200 million equity and debt investment in Moly Mines in the second half of April 2010.

Moly Mines Limited (TSX:MOL)(ASX:MOL) reported that the company has received notification from Hanlong Mining Investment Pty Ltd (Hanlong) that it plans to settle the US$200 million equity and debt investment in Moly Mines in the second half of April 2010.

The press release is quoted as saying:

Hanlong are completing their financing arrangements to enable the transfer of funds, which will result in Hanlong becoming Moly Mines major shareholder. All key conditions precedent to completion have been met with customary corporate warranties to be given at settlement.

Click here to access the entire press release

Click here to access Moly Mines Corporate Site

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