Quote from China Daily...Hanlong Group Board of Directors...

Quote from China Daily...

Hanlong Group Board of Directors Representative Liu Han said it is extremely meaningful for a privately held Chinese company to have gained authority to develop a mine in Australia.

Liu said that they have already communicated with Australian government and he is confident that the project will be carried out successfully.

Moly Mines's Chief Operating Officer Collis Thorp said the project is ready to develop as most of the engineering and budget work have been done.

"It would take us 18 months to 21 months to construct the mine and this agreement will facilitate that," Thorp said that in two years the project should be in full production