trending Market Intelligence /marketintelligence/en/news-insights/trending/CriQWH_76iyNOaSLX3osfA2 content esgSubNav
In This List

Galway Metals drops New Mexico molybdenum-tungsten project due to low metal prices

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms

Blog

Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge

Video

Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond


Galway Metals drops New Mexico molybdenum-tungsten project due to low metal prices

Galway Metals Inc.said May 3 that it has terminated thecontract for its VictorioMountain molybdenum-tungsten project in New Mexico to preserve cash.

Due to unfavorable market conditions and depressed molybdenumand tungsten prices, the company decided to not make the US$75,000 option paymentsdue June 1, 2016 and 2017, or the final payment of US$900,000 in 2018.

Galway Metals is evaluating several other potential mining sectorprojects.