Moly Mines Welcomes Hanlong as Major Shareholder

Moly Mines Limited (TSX:MOL)(ASX:MOL) advised that Hanlong Mining Investment Pty Ltd has today become the Company’s controlling shareholder following the settlement of the US$200 million equity and debt funding pursuant to the Subscription Agreement dated 19 October 2009.

The press release is quoted as saying:

Moly Mines has retired in full the balance outstanding on the Interim Financing Facility with Trust Company of the West (“TCW”), including the Early Repayment Fee described on 1 March 2010.

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