UPDATE IN RESPECT OF MEDIA REPORTS Moly Mines Limited (ASX/TSX: MOL) refers to a report in today’s West Australian that its majority shareholder Hanlong Mining Investments Pty Ltd (Hanlong) is to remove the Company’s independent directors and advises as follows. Hanlong and the Board are in discussions in relation to the future structure and composition of the Board. The Company will advise the market further once those discussions have concluded. The Company also notes the report in today’s Australian Financial Review that China EXIM Bank may have repossessed Hanlong’s shareholding in the Company. The Company advises that it has sought clarification from Hanlong which has confirmed that no such action has been taken by China EXIM Bank. Yours sincerely Martijn Bosboom Company Secretary
I live in hope that China EXIM Bank may have repossessed Hanlong’s shareholding in the Company. As far as i'm concerned hanlong are toxic going by there track record. the sooner we see the arse end of them the better if its possible.
MOL Price at posting:
11.0¢ Sentiment: None Disclosure: Held
