Moly Mines Ltd (TSX:MOL,ASX:MOL) announced its entry into debt facilities with China Development Bank Corporation so the company may develop the Spinifex Ridge property.

The press release is quoted as saying:

Moly Mines Chief Executive Officer and Managing Director Dr Derek Fisher stated “we are extremely proud to have completed these arrangements with CDB which are the culmination of outstanding but difficult work from the Moly Mines and Hanlong teams.

Click here to read the entire news release.