General Moly, Inc.

10:31 AM EST - General Moly, Inc. : Announced that the Company, through a subsidiary, received all the necessary water permits from the Nevada State Engineer for the Mt. Hope molybdenum project in Nevada. In addition, the period for judicial review of Nevada State Engineer's approval of the water applications for the issuance of the water permits has expired and no requests for review were received. The receipt of the permits triggers the obligation of the Company’s largest shareholder, AMER International Group to invest $10 million for 20 million common shares priced at $0.50 per share as set forth in the existing amended Investment Securities Purchase Agreement. General Moly, Inc. shares T.GMO are trading down $0.025 at $0.45.