/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 01/29/16 -- Moly Mines Limited (ASX: MOL) reports the highlights of their Quarterly Activities Report and Quarterly Cashflow Report for the period ending December 31, 2015.

HIGHLIGHTS (all amounts are in A$ unless otherwise stated)

Operations (unaudited):

--  Operational activities were confined to maintaining the Spinifex Ridge
    infrastructure in good condition and monitoring of the rehabilitated
    areas of the Iron Ore Project

--  A number of outstanding issues from the Iron Ore project were
    progressed. The final payment of the Spinifex Ridge Iron Ore sale will
    be determined by arbitration.

--  The Spinifex Ridge Molybdenum / Copper Project remains on care and
    maintenance.

Corporate and Finance (unaudited):

--  Cash on hand at end of Quarter was $69.1M in cash, down from $72.7M at
    end of previous Quarter.

--  Moly continues to review a range of M&A opportunities both within
    Australia and overseas.

Exploration:

--  No exploration activity was undertaken on Moly Mines tenements during
    the Quarter.

The full Quarterly Activities Report and Quarterly Cash Flow Report are available on the Company website (www.molymines.com) and on SEDAR (www.sedar.com).

Contacts:
Moly Mines Limited
Natalie Frame
Investor Relations
+1 416 371 7541

Moly Mines Limited
Graeme Kininmonth
CEO
+61 8 9429 3300
info@molymines.com
www.molymines.com

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