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Moly Mines Iron Ore Final Payment

Marketwired

TORONTO, ONTARIO--(Marketwired - Nov. 16, 2015) - Moly Mines Limited (MOL.AX) As advised in the September 2015 Quarterly Activities Report, an Expert was appointed to determine the Available Tonnage component of the final payment due under the Iron Ore Sale and Purchase Agreement between Moly Mines Limited ("MOL") and Mineral Resources Limited ("MRL").

The final Expert's report has been received and this results in a calculated Final Payment, when all outstanding invoices between the parties are included, of approximately A$4.2M payable by MOL to MRL in the December Quarter.

MOL is currently reviewing the findings contained in the Expert's final report to determine an appropriate course of action.