General Moly, Inc. reported consolidated earnings results for the second quarter ended June 30, 2018. For the quarter, the company reported net loss of $3,105,000 or $0.02 per share against $1,948,000 or $0.02 per share a year ago. Net loss attributable to the company was $2,931,000 against $1,943,000 a year ago. The increase in net loss was primarily the result of $0.9 million in accelerated depreciation related to enterprise management software purchased in 2009 that was recorded as capitalized development related to the Mt. Hope Project.

The company ended the second quarter with $4.7 million in unrestricted cash and equivalents. Consistent with guidance in its March 13, 2018 release, the company anticipates its quarterly unrestricted cash burn rate to average approximately $1.3 million per quarter for the full year 2018, excluding the Cu-Ag Target drill program.