General Moly Q1 Net Loss Widens

(RTTNews) - Exploration and mining company, General Moly, Inc. (GMO, GMO.TO), Tuesday reported that its net loss for the first quarter widened to $2.8 million from last year's $1.9 million. However, on a per share basis, loss stood at $0.02.

Total operating expenses jumped 60 percent to $2.6 million, of which G&A expenses totaled $2.47 million, an increase of 64 percent year-over-year, including non-cash stock compensation.

The Company's cash balance was $6.0 million at the end of the first quarter, including $0.5 million in proceeds from the issuance of shares under an At-The-Market equity program.