"A recently completed pre-feasibility study indicated the open-pit mine could produce 20 million to 30 million pounds of molybdenum annually contained in high-quality concentrates at highly competitive per-pound production costs. Capital requirements are estimated at $200 million to $250 million for a new state-of-the-art concentrator and associated facilities. The mine last operated in 1995.

Assuming favorable market conditions and timely receipt of permits, the company intends to have the mine in production by the end of 2009."

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