Moly Mines Loses Another Director

The Australian reported that beleaguered Moly Mines Ltd. (TSX:MOL,ASX:MOL) has lost another director with the resignation of Doug Buerger.

As quoted in the market news:

Buerger was appointed to the Moly Mines board in January. His departure brings the total number of directors, executive officers and company secretaries to leave the group this year to seven. The group has lost 18 directors and senior executives since March 2012.

Shares in Moly Mines have been suspended from trading on the Australian Securities Exchange since late April, after the company exhausted a six-month window in which to identify a new project.

The group has more than $70 million in cash to its name but had been trading at a fraction of its cash backing in the months leading up to its suspension.

Click here to read the full report from The Australian.