General Moly (NYSE:GMO) shares are trading higher on Thursday after the company announced a letter of intent to sell the liberty project to Pathfinder Minerals for $1 million in cash.
General Moly is a U.S.-based mineral company. It is engaged in the business of exploration, development, and mining of properties containing molybdenum. The company owns two moly projects: an 80% interest in the Mt. Hope project and 100% of the Liberty project. Both projects are located in Nevada.
General Moly traded up 19.97% to 14 cents per share on Thursday. The stock has a 52-week high of 37 cents and a 52-week low of 10 cents.