Each one in plain English, with the numbers worked through for a shareholder.
8 Feb 2008substantial holder notice● Neutral
Harbinger Capital Partners Master Fund I, Ltd, Harbinger Capital Partners Offshore Manager, L.L.C, HMC Investors, L.L.C, Harbert Management Corporation, Philip Falcone, Raymond J. Harbert, Michael D. Luce reported a General Moly, Inc shareholding of 5,939,100 shares (10.40% of votes) in a periodic institutional filing.
Harbinger Capital Partners Master Fund I, Ltd, Harbinger Capital Partners Offshore Manager, L.L.C, HMC Investors, L.L.C, Harbert Management Corporation, Philip Falcone, Raymond J. Harbert, Michael D. Luce disclosed a new substantial General Moly, Inc shareholding (9.20% of votes).
General Moly signed its first molybdenum supply (off-take) agreement, committing to sell an ArcelorMittal affiliate 6.5 million pounds of moly a year once Mount Hope reaches production — an early customer commitment underpinning the project's financing case.
General Moly amended its Mount Hope lease with Mount Hope Mines to share the cost risk of any future federal mining royalty and to raise minimum royalty payments.
General Moly restated three years of financial statements (2004-2006) after finding accounting errors in how it valued stock and options paid to employees and outside parties — no cash impact, but a real disclosure-control lapse.
Citadel Limited Partnership, Citadel Investment Group, L.L.C, Citadel Derivatives Group LLC, Kenneth Griffin, Citadel Equity Fund Ltd reported a General Moly, Inc shareholding of 10.14% of votes in a periodic institutional filing.
Idaho General Mines reincorporated in Delaware as General Moly, Inc. via a shareholder-approved merger, and terminated its shareholder rights (poison pill) plan in the process — the company's new permanent name and structure going forward.