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Business Description: Moly Mines Limited (MOL) is an ASX and TSX listed company engaged in mining exploration and development of gold, molybdenum and copper projects worldwide. MOL currently focuses on the Spinifex Ridge Iron Project in Australia.
Strategy Analysis: MOL plans to develop and operate an open-pit mine and a nearby processing plant for the Spinifex Ridge Molybdenum Project that, over the first ten years is expected to produce an average of approximately 12m pounds of contained molybdenum and approximately 14m pounds of contained copper, both in concentrate form. The ability of MOL to bring this Project into production will depend on the success of MOL's efforts to conclude financing for the Project. The Spinifex Ridge Iron Ore Project is expected to produce 1m tonnes per annum of direct ship hematite iron ore for at least 4 years. Production is expected to commence in fourth quarter 2010. .
Moly Mines reported positive cash flow of $17.61m for quarter ended 30 September 2011. Operating cash flow for the period was $4.49m. Payments for exploration and evaluation were $(186,000). Investing cash flow was $18.11m. Financing cash flow was $(4.98m). Cash in hand at the end of the quarter was $50.3m.
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