InterMoly (International Molybdenum plc) was established in December 2004 by Galahad Gold www.galahadgold.com (Galahad) for the purpose of developing two primary molybdenum licences in Greenland. The Licences, relating to Malmbjerg and Flammefjeld, were granted to Galahad in August and December 2004 by the government of Greenland. InterMoly (International Molybdenum plc) subsequently engaged specialist consultants who appraised the results of previous exploration programmes and classified the resources. Key management with significant experience in mining and mining finance was subsequently retained for the purposes of executing the strategy in the shortest possible timeframe.
InterMoly (International Molybdenum plc) raised £2,550,000 (before expenses) in April 2005 in order to commence the Projects. The Company raised a further £6,000,000 (before expenses) in July 2005 by way of a Placing and secured an interest free loan of £1 million from Galahad to complete a Bankable Feasibility Study of its Malmbjerg Project and to have its Ordinary Shares and Warrants admitted to trading on the AIM Market. Admission and commencement of trading occurred on 28 July 2005.
Please refer to the 2005 Annual Report and the 2006 Interim Report for the latest company financial information.
