General Moly (GMO) 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 10, 2020
Document and Entity Information
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Entity Registrant Name	General Moly, Inc.
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		152,685,255
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001275229
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 3,055	$ 4,614
Deposits, prepaid expenses and other current assets	332	272
Total Current Assets	3,387	4,886
Mining properties, land and water rights	244,845	244,137
Deposits on project property, plant and equipment	87,972	87,972
Restricted cash held at EMLLC	3,684	3,388
Restricted cash and investments held for reclamation bonds	708	708
Non-mining property and equipment, net		32
Other assets	3,104	3,104
TOTAL ASSETS	343,700	344,227
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,179	1,223
Return of Contributions Payable to POS-Minerals, current portion	33,641	33,641
Accrued advance royalties	500	500
Total Current Liabilities	35,320	35,364
Provision for post closure reclamation and remediation costs	2,000	1,953
Accrued advance royalties	6,888	6,388
Accrued payments to Agricultural Sustainability Trust	5,500	5,500
Accrued water rights payments	14,000	14,000
Senior Promissory Notes	8,368	7,883
Other accrued liabilities	2,676	3,447
Total Liabilities	74,752	74,535
COMMITMENTS AND CONTINGENCIES - NOTE 12
CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST ("CRNCI")	172,314	172,239
CONVERTIBLE PREFERRED SHARES	1,300	1,300
EQUITY
Common stock, $0.001 par value; 650,000,000 and 650,000,000 shares authorized, respectively, 152 685,255 and 152,033,515	152	152
Additional paid-in capital	295,387	295,005
Accumulated deficit during exploration and development stage	(200,205)	(199,004)
Total Equity	95,334	96,153
TOTAL LIABILITIES, CRNCI, AND EQUITY	$ 343,700	$ 344,227

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical)	Mar. 31, 2020$ / sharesshares
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share) | $ / shares	$ 0.001
Common stock, shares authorized	650,000,000
Common stock, shares issued	152,685,255
Common stock, shares outstanding	152,685,255

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING EXPENSES:
Exploration and evaluation	$ 173	$ 103
General and administrative expense	1,493	1,299
Gain on Sale of non-core properties and assets	(547)
TOTAL OPERATING EXPENSES	1,119	1,402
(LOSS) FROM OPERATIONS	(1,119)	(1,402)
OTHER INCOME/(EXPENSE):
Interest expense	(759)	(55)
Other income	752
TOTAL OTHER (EXPENSE)/INCOME, NET	(7)	(55)
(LOSS) BEFORE INCOME TAXES	(1,126)	(1,457)
CONSOLIDATED NET (LOSS)	(1,126)	(1,457)
Less: Net loss attributable to CRNCI	(75)	36
NET LOSS ATTRIBUTABLE TO GMI	$ (1,201)	$ (1,421)
Basic and diluted net loss attributable to GMI per share of common stock (in dollars per share)	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding - basic and diluted (in shares)	152,669	137,471
COMPREHENSIVE (LOSS)	$ (1,201)	$ (1,421)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Shares	Preferred Shares	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 137		$ 291,266	$ (191,126)	$ 100,277
Balance (in shares) at Dec. 31, 2018	137,114,804
Issuance of Units of Common Stock:
Issued pursuant to stock awards (in shares)	135,000
Stock-based compensation			25		25
Restricted stock net share settlement			(1)		(1)
Restricted stock net share settlement (in shares)	276,328
Net loss				(1,421)	(1,421)
Balance at Mar. 31, 2019	$ 137		291,290	(192,547)	98,880
Balance (in shares) at Mar. 31, 2019	137,526,132
Balance at Dec. 31, 2018	$ 137		291,266	(191,126)	100,277
Balance (in shares) at Dec. 31, 2018	137,114,804
Balance at Dec. 31, 2019	$ 152	$ 1,300	295,005	(199,004)	$ 96,153
Balance (in shares) at Dec. 31, 2019	152,316,255				152,033,515
Issuance of Units of Common Stock:
Issued pursuant to stock awards (in shares)	369,000
Stock-based compensation			382		$ 382
Net loss				(1,201)	(1,201)
Balance at Mar. 31, 2020	$ 152	$ 1,300	$ 295,387	$ (200,205)	$ 95,334
Balance (in shares) at Mar. 31, 2020	152,685,255				152,685,255

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss	$ (1,126)	$ (1,457)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	24	7
Non-cash interest expense	485	(126)
Gain on decrease in warrant liability	(771)
Income realized on lease of water rights		(13)
Gain on sale of non-core assets	(547)
Stock-based compensation for employees and directors	318	24
Decrease (increase) in deposits, prepaid expenses and other	(60)	(191)
Decrease in accounts payable and accrued liabilities	(91)	519
(Decrease) increase in post closure reclamation and remediation costs	20	27
Net cash used by operating activities	(1,748)	(1,210)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase and development of mining properties, land and water rights	(200)	(576)
Deposits on property, plant and equipment		152
Proceeds from sale of non-core assets	685
Increase in investments for reclamation bonds		(17)
Net cash used by investing activities	485	(441)
CASH FLOWS FROM FINANCING ACTIVITIES:
Stock proceeds, net of issuance costs		299
Net cash provided/(used) by financing activities:		299
Net (decrease) in cash, cash equivalents and restricted cash	(1,263)	(1,352)
Cash, cash equivalents and restricted cash, beginning of period	8,002	8,617
Cash, cash equivalents and restricted cash, end of period	6,739	7,265
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest, net of capitalized	(274)	(181)
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Equity compensation capitalized as development	64	$ 1
Accrued portion of advance royalties	$ 500

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The interim consolidated financial statements (“interim statements”) of the Company are unaudited. In the opinion of management, all adjustments and disclosures necessary for a fair statement of these interim statements have been included. All such adjustments are, in the opinion of management, of a normal recurring nature. The results reported in these interim statements are not necessarily indicative of the results that may be presented for the entire year. These interim statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (“SEC”) on May 4, 2020. This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied in the preparation of the financial statements. Accounting Method Our financial statements are prepared using the accrual basis of accounting in accordance with GAAP. With the exception of the LLC, all of our subsidiaries are wholly owned. In February 2008, we entered into the LLC Agreement, which established our ownership interest in the LLC at 80%. The consolidated financial statements include all of our wholly owned subsidiaries and the LLC. The POS-Minerals contributions attributable to their 20% interest are shown as Contingently Redeemable Noncontrolling Interest on the Consolidated Balance Sheet. The net loss attributable to contingently redeemable noncontrolling interest is reflected separately on the Consolidated Statement of Operations and reduces the Contingently Redeemable Noncontrolling Interest on the Consolidated Balance Sheet. Net losses of the LLC are attributable to the members of the LLC based on their respective ownership percentages in the LLC. During the three months ended March 31, 2020, the LLC had a $374,000 gain, primarily associated with the sale of non-core assets offset by accretion of its reclamation obligations and care and maintenance costs incurred which do not qualify for capitalization under U.S. GAAP, of which $75,000, was attributed to the Contingently Redeemable Noncontrolling Interest. Contingently Redeemable Noncontrolling Interest (“CRNCI”) Under GAAP, certain noncontrolling interests in consolidated entities meet the definition of mandatorily redeemable financial instruments if the ability to redeem the interest is outside of the control of the consolidating entity. As described in Note 1 — “Description of Business”, the LLC Agreement permits POS-Minerals the option to put its interest in the LLC to Nevada Moly upon a change of control, as defined in the LLC Agreement, followed by a failure by us to use standard mining industry practice in connection with the development and operation of the Mt. Hope Project as contemplated by the parties for a period of 12 consecutive months. As such, the CRNCI has continued to be shown as a separate caption between liabilities and equity based on accounting standards which require equity instruments with redemption features that are not solely within the control of the issuer to be classified outside of permanent equity (referred to as mezzanine equity). The carrying value of the CRNCI has historically included the Return of Contributions, now $33.6 million, that will be returned to POS-Minerals in 2020, unless further extended by the members of the LLC as discussed above. The expected Return of Contributions to POS-Minerals was carried at redemption value as we believed redemption of this amount was probable. Effective January 1, 2015, Nevada Moly and POS-Minerals agreed that the Return of Contributions will be due to POS-Minerals on December 31, 2020, unless further extended by the members of the LLC as discussed above. As a result, we have reclassified the Return of Contributions payable to POS-Minerals from CRNCI to a non-current liability at redemption value, and subsequently reduced it by $2.4 million, consisting of 20% of an $8.4 million principal payment made on milling equipment in March 2015, a $2.2 million principal payment made on electrical transformers in April 2015, and a $1.2 million principal payment made on milling equipment in April 2016, such that the remaining amount due to POS-Minerals is $33.6 million. The remaining carrying value of the CRNCI has not been adjusted to its redemption value as the contingencies that may allow POS-Minerals to require redemption of its noncontrolling interest are not probable of occurring. Under GAAP, until such time as that contingency has been eliminated and redemption is no longer contingent upon anything other than the passage of time, no adjustment to the CRNCI balance should be made. Future changes in the redemption value will be recognized immediately as they occur and the Company will adjust the carrying amount of the CRNCI to equal the redemption value at the end of each reporting period. Estimates The process of preparing consolidated financial statements requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, upon settlement, actual results may differ from estimated amounts. Asset Impairments We evaluate the carrying value of long-lived assets to be held and used, using a fair-value based approach when events and circumstances indicate that the related carrying amount of our assets may not be recoverable. Significant declines in the overall economic environment, molybdenum and copper prices may be considered as impairment indicators for the purposes of these impairment assessments. Additionally, failure to secure our mining permits, including our water rights, or revocation of our permits, may be considered as impairment indicators for the purposes of these impairment assessments. In accordance with U.S. GAAP, the carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flows from such asset is less than its carrying value. In that event, an impairment charge will be recorded in our Consolidated Statement of Operations and Comprehensive Loss based on the difference between book value and the estimated fair value of the asset computed using discounted future cash flows, or the application of an expected fair value technique in the absence of an observable market price. Future cash flows include estimates of recoverable quantities to be produced from estimated proven and probable mineral reserves, commodity prices (considering current and historical prices, price trends and related factors), production quantities and capital expenditures, all based on life-of-mine plans and projections. In estimating future cash flows, assets are grouped at the lowest level for which identifiable cash flows exist that are largely independent of cash flows from other asset groups. Generally, in estimating future cash flows, all assets are grouped at a particular mine for which there are identifiable cash flows. Management evaluated the circumstances of the July 30, 2019 AMER default and concluded the default was a triggering event in the third quarter of 2019 which continues to exist at March 31, 2020. We evaluated and determined the carrying value of the asset groups were recoverable as the probability-weighted undiscounted cash flows exceeded the carrying values for each of our asset groups. While at March 31, 2020, we have not identified any impairment of our long-lived assets, there can be no assurance that there will not be asset impairments if commodity prices experience a sustained decline and/or if there are significant downward adjustments to estimates of recoverable quantities to be produced from proven and probable mineral reserves or production quantities, and/or upward adjustments to estimated operating costs and capital expenditures, all based on life-of-mine plans and projections. Additionally, should we be unable to secure additional financing follo, we may be required to modify our cash flow projections which could result in a significant reduction in the valuation of our assets thereby causing an impairment to our assets at that time. Cash and Cash Equivalents and Restricted Cash We consider all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company’s cash equivalent instruments are classified within Level 1 of the fair value hierarchy established by FASB guidance for Fair Value Measurements because they are valued based on quoted market prices in active markets. We consider all restricted cash, inclusive of the reserve account discussed above and reclamation surety bonds, to be long-term. March 31, 2020 December 31, 2019 (in thousands) Cash and cash equivalents $ 3,055 $ 4,614 Restricted cash held at EMLLC 3,684 3,388 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 6,739 $ 8,002 As of March 31, 2020, the LLC had $0.3 million in cash deposits associated with reclamation bonds, which are accounted for as restricted cash. Another $0.1 million in cash collateral is associated with surety bonds at the Liberty Project. These amounts are considered investments and are not included in cash and cash equivalents for purposes of the Statement of Cash Flows. Basic and Diluted Net Loss Per Share Net loss per share was computed by dividing the net loss attributable to the Company by the weighted average number of shares outstanding during the period. The weighted average number of shares was calculated by taking the number of shares outstanding and weighting them by the amount of time that they were outstanding. Outstanding awards as of March 31, 2020 and December 31, 2019, respectively, were as follows: March 31, 2020 December 31, 2019 Warrants Unvested Stock Awards Stock Appreciation Rights These awards were not included in the computation of diluted loss per share for the three months ended March 31, 2020 and December 31, 2019, respectively, because to do so would have been anti-dilutive. Therefore, basic loss per share is the same as diluted loss per share. Mineral Exploration and Development Costs All exploration expenditures are expensed as incurred. If no economic ore body is discovered, previously capitalized costs are expensed in the period the property is abandoned. Expenditures to develop new mines, to define further mineralization in existing ore bodies, and to expand the capacity of operating mines, are capitalized and amortized on a units-of-production basis over proven and probable reserves. Should a property be abandoned, its capitalized costs are charged to operations. The Company charges to the consolidated statement of operations the allocable portion of capitalized costs attributable to properties sold. Capitalized costs are allocated to properties sold based on the proportion of claims sold to the claims remaining within the project area. Mining Properties, Land and Water Rights Costs of acquiring and developing mining properties, land and water rights are capitalized as appropriate by project area. Exploration and related costs and costs to maintain mining properties, land and water rights are expensed as incurred while the property is in the exploration and evaluation stage. Development and related costs and costs to maintain mining properties, land and water rights are capitalized as incurred while the property is in the development stage. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production basis over proven and probable reserves. Mining properties, land and water rights are periodically assessed for impairment of value, and any subsequent losses are charged to operations at the time of impairment. If a property is abandoned or sold, a gain or loss is recognized and included in the consolidated statement of operations. The Company has capitalized royalty payments made to Mt. Hope Mines, Inc. (“MHMI”) (discussed in Note 11 below) during the development stage. The amounts will be applied to production royalties owed upon the commencement of production. Depreciation and Amortization Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Property and equipment are depreciated using the following estimated useful lives: Field equipment Four to ten years Office furniture, fixtures, and equipment Five to seven years Vehicles Three to five years Leasehold improvements Three years or the term of the lease, whichever is shorter Residential trailers Ten to twenty years Buildings and improvements Ten to twenty seven and one-half years Provision for Taxes Income taxes are provided based upon the asset and liability method of accounting. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. In accordance with authoritative guidance under Accounting Standards Codification (“ASC”) 740, Income Taxes , a valuation allowance is recorded against the deferred tax asset if management does not believe the Company has met the “more likely than not” standard to allow recognition of such an asset. Reclamation and Remediation Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Future obligations to retire an asset, including reclamation, site closure, dismantling, remediation and ongoing treatment and monitoring, are recorded as a liability at fair value at the time of construction or development. The fair value determination is based on estimated future cash flows, the current credit-adjusted risk-free discount rate and an estimated inflation factor. The value of asset retirement obligations is evaluated on a quarterly basis or as new information becomes available on the expected amounts and timing of cash flows required to discharge the liability. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount will be depreciated or amortized over the estimated life of the asset upon the commencement of commercial production. An accretion cost, representing the increase over time in the present value of the liability, will also be recorded each period as accretion expense. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Certain collateral amounts associated with our reclamation obligations are held in investment accounts, for which the fair value is estimated based on Level 1 inputs. Stock-based Compensation Stock-based compensation represents the fair value related to stock-based awards granted to members of the Board, officers and employees. The Company uses the Black-Scholes model to determine the fair value of stock-based awards under authoritative guidance for Stock-Based Compensation . For stock-based compensation that is earned upon the satisfaction of a service condition, the cost is recognized on a straight-line basis (net of estimated forfeitures) over the requisite vesting period (up to three years). Awards expire five years from the date of vesting. Further information regarding stock-based compensation can be found in Note 8 — “Equity Incentives.” Warrants The Company has issued warrants in connection with several financing transactions and uses the Black-Scholes model or a lattice to determine the fair value of these transactions based on the features included in each. Leases The Company adopted Accounting Standards Codification (“ASC”) 842, Leases, on January 1, 2019. Changes to the Company’s accounting policy as a result of adoption are discussed below. The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases are included in Deposits, prepaids and other Current Assets and Other accrued liabilities in the Consolidated Balance Sheets. No finance leases have been identified to date. Operating and finance lease right-of-use ("ROU") assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. When the rate implicit to the lease cannot be readily determined, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. Operating lease ROU assets also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Recently Adopted Accounting Pronouncements Fair Value Measurement (Topic 820) In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820). The update modifies the disclosure requirements on fair value measurements, including amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measures and the narrative description of measurement uncertainty. The amendments in ASU 2018-13 are effective for public entities for annual reporting periods beginning after December 31, 2019, and for interim periods within that reporting period. The Company adopted this standard as of January 1, 2020. The adoption had no effect on our financial statements.

MINING PROPERTIES, LAND AND WAT

MINING PROPERTIES, LAND AND WATER RIGHTS	3 Months Ended
	Mar. 31, 2020
MINING PROPERTIES, LAND AND WATER RIGHTS
MINING PROPERTIES, LAND AND WATER RIGHTS	NOTE 3 — MINING PROPERTIES, LAND AND WATER RIGHTS We currently have interests in two mining properties that are the primary focus of our operations, the Mt. Hope Project and the Liberty Project. We also have certain other, non-core, mining properties that are being evaluated for future development or sale. The Mt. Hope Project. We are currently in the process of developing the Mt. Hope Project, and have recently obtained all permits required for construction. In January 2014, the Company published an updated Technical Report on the Mt. Hope Project using Canadian Instrument NI 43-101 guidelines, which provided data on the viability and expected economics of the project. In early 2017, we re-examined the Mt. Hope proven and probable mineral reserves and updated the reserve and resource estimates using an $8.40/lb molybdenum (“Mo”) three-year backward average price. No further adjustments have been required. The Company has also identified a potential high-grade, copper-silver exploration target along with a significant zinc mineralized area at the Mt. Hope Project site, southeast of the Mt. Hope Project’s molybdenum deposit in central Nevada (the “Cu-Ag Target”). A high-intensity, ground-based Induced Polarization (“IP”) survey completed in February 2018 by Quantec Geoscience indicates a fairly continuous group of high chargeability anomalies that appear aligned with the recently identified Cu-Ag Target. These anomalies lie between 100 feet and 1,000-plus feet from the surface and trend northeast for over 1,000 feet. The IP survey indicates that the anomalies could continue further to the north-northeast and to the south where they appear to dip to the east. To date the preliminary Cu-Ag Target exploration work was undertaken solely by General Moly. The Company has presented the promising findings to its 20% joint venture partner at the Mt. Hope Project, POS-Minerals. Any mining operation to exploit economic mineralization will require the approval of POS-Minerals. Geological review of historic logs and core was completed by Mine Mappers, LLC of Tucson, Arizona to update the geologic interpretation of the skarn area. Mine Mappers reviewed the geologic interpretations in conjunction with the IP results and recommended a 10-hole, 9,400 foot drilling confirmation and exploration program. In September 2018, the Company commenced a 10 hole drill program on the patented claims at the Mt. Hope Project. The drilling program is focused on copper-silver-zinc mineralized skarns and designed to confirm and extend the target defined by historical drilling as well as test for extensions of zinc mineralization horizons which were historically mined. The drill program is was completed in late 2018 and the Company concluded that this minzeralization may have economic potential but requires further drilling and analysis and may be best explored in conjunction with or after the molybdenum project is developed. Liberty Project. We continue to evaluate opportunities at the Liberty Project as they arise. The Liberty Project remains largely in care and maintenance at this time. In July 2014, the Company published an updated NI 43-101 compliant pre-feasibility study, which more closely examined the use of existing infrastructure and the copper potential of the property. In February 2017, Liberty Moly entered into a lease agreement with WK Mining Ltd. (“WK”) for the lease of water rights for the purpose of mining and milling. The term of the lease is six years which WK can extend for an additional four years. As compensation for the leased water rights, WK has issued $124,000 in common shares to Liberty Moly, consisting of $100,000 at signing of the agreement and shares equal to $12,000 in both its first and second annual installments, and is required to pay an annual fee on the anniversary date of the lease in either cash or WK common shares. The third installment (due February 2020) was paid in cash. In December, 2019, Liberty Moly, LLC (“Liberty Moly”) entered into a lease agreement with SR Minerals, Inc. (SRM) for the lease of water rights for the purpose of mining and milling. The term of the lease is five years, after which SRM can extend annually for an additional five years. As compensation for the leased water rights, SRM has paid $16,000 in cash to Liberty Moly, and is required to pay an annual fee on the anniversary date of the lease in cash. Liberty Moly continues to work with the Nevada Division of Environmental Protection (“NDEP”) to address environmental concerns with some Liberty Project facilities acquired with the property. We have implemented remedial treatment of the Liberty pit lake and developed and implemented procedures to manage process solutions draining from the pre-existing leach pad, as required by NDEP. We may be required to treat the pit lake again, and/or revise our systems to manage heap leach solution. At this time we are working with NDEP to reasonably estimate the scope and costs of addressing these issues. Other Mining Properties. We also have mining claims and land purchased prior to 2006 which consist in part of (a) six patented mining claims known as the Chicago-London group, located near the town of Murray in Shoshone County, Idaho and (b) 34 unpatented mining claims in Marion County, Oregon, known as the Detroit property. The costs associated with these claims and properties are minimal and primarily relate to claim fees and property taxes. Historically, our efforts at these properties were minimal and consumed no significant financial resources. The total book value of these properties was approximately $0.1 million and the Company has retained production royalties of 1.5% of all net smelter returns on future production from two undeveloped properties in Skamania County, Washington and Josephine County, Oregon, which were sold in 2012 and 2013, respectively. The Chicago-London property ((a) above) was sold in January 2020. Summary. The following is a summary of mining properties, land and water rights at March 31, 2020 and December 31, 2019 (in thousands): At At March 31, December 31, 2020 2019 Mt. Hope Project: Development costs $ $ Mineral, land and water rights Advance royalties Total Mt. Hope Project Total Liberty Project Other Properties Total $ $ Development costs of $179.7 million as of March 31, 2020 include hydrology and drilling costs, expenditures to further the permitting process, capitalized salaries, project engineering costs, and other expenditures required to fully develop the Mt. Hope Project. Deposits on project property, plant and equipment of $88.0 million as of March 31, 2020 represent ongoing progress payments on equipment orders for the custom-built grinding and milling equipment, related electric mill drives, and other processing equipment that require the longest lead times.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	3 Months Ended
	Mar. 31, 2020
ASSET RETIREMENT OBLIGATIONS
ASSET RETIREMENT OBLIGATIONS	NOTE 4 — ASSET RETIREMENT OBLIGATIONS Asset retirement obligations (“ARO”) arise from the acquisition, development, construction and normal operation of mining property, plant and equipment due to government controls that protect the environment, and are primarily related to closure and reclamation of mining properties. The exact nature of environmental issues and costs, if any, which the Company or the LLC may encounter in the future are subject to change, primarily because of the changing character of environmental requirements that may be enacted by governmental authorities. The following table shows asset retirement obligations for future mine closure and reclamation costs in connection with the Mt. Hope Project and within the boundaries of the Plan of Operations (“PoO”): (in thousands) At January 1, 2019 $ 1,633 Accretion Expense 108 Adjustments* 62 At December 31, 2019 $ 1,803 Accretion Expense 27 Adjustments* — At March 31, 2020 $ 1,830 * The estimated future reclamation costs for the Mt. Hope Project have been discounted using a rate of 8%, which is the rate that existed at the time the liability was originally measured. The total inflated and undiscounted estimated reclamation costs associated with current disturbance under the PoO at the Mt. Hope Project were $5.8 million at March 31, 2020, inclusive of $2.6 million for mitigation of sage grouse habitat that would be affected by development of the Mt. Hope Project. Increases in ARO liabilities resulting from the passage of time are recognized as accretion expense. As of March 31, 2020, the LLC had provided the appropriate regulatory authorities with $2.8 million in reclamation financial guarantees through the posting of surety bonds for reclamation of the Mt. Hope Project as approved in the ROD. As of March 31, 2020, we had $0.3 million in cash deposits associated with these bonds which are specific to the PoO disturbance and recorded in Restricted cash and investments held for reclamation bonds and are unrelated to the inflated and undiscounted liability referenced above. The LLC posted an additional $0.3 million as a cash bond with the BLM in April 2019 as a result of a required three-year update to the reclamation bond calculation. The LLC has a smaller liability at the Mt. Hope Project for disturbance associated with exploration drilling which occurred outside the PoO boundaries. The LLC has not discounted this reclamation liability as the total amount is approximately $0.2 million. Total restricted cash for surety bond collateral requirements and other long-term reclamation obligations at the Mt. Hope Project equal $0.6 million. Another $0.1 million in cash collateral is associated with surety bonds at the Liberty Project. The Company’s Liberty Project is currently in the exploration stage. As the Company is not currently performing any exploration activity at the Liberty Project, the reclamation liability incurred for historical disturbance from previous operations and more recent exploration conducted by the Company of approximately $0.1 million has not been discounted as shown in the table below. Mt. Hope Project outside PoO boundary Liberty (in thousands) At January 1, 2019 $ 15 $ 121 Adjustments * 2 13 At December 31, 2019 $ 17 $ 134 Adjustments * — 20 At March 31, 2020 $ 17 $ 154 *

Current Debt

Current Debt	3 Months Ended
	Mar. 31, 2020
Current Debt
SENIOR NOTES	NOTE 5 — CURRENT DEBT In December 2014, the Company sold and issued 85,350 Units of Convertible Notes (the “Notes”) with warrants (the “Notes Warrants”) to qualified buyers pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, of which 23,750 Units were sold and issued to related parties, including several directors and each of our named executive officers. The Convertible Notes were unsecured obligations and were senior to any of the Company’s future secured obligations to the extent of the value of the collateral securing such obligations. The transaction value of $8.5 million was allocated between debt for the Convertible Notes and equity for the Notes Warrants based on the relative fair value of the two instruments. This resulted in recording $0.8 million in Additional Paid In Capital for the relative fair value of the Warrants and $7.7 million as Convertible Notes. The Company received net proceeds from the sale of the Convertible Notes of approximately $8.0 million, after deducting offering expenses of approximately $0.5 million, which was allocated between debt and equity. As a result, the Company recognized $0.4 million as Debt Issuance Costs to be amortized over the expected redemption period, and $0.1 million recognized as a reduction to Additional Paid in Capital. Net proceeds from the sale were used to fund ongoing operations. The Convertible Notes bore interest at a rate of 10.0% per annum, payable in cash quarterly in arrears on each March 31, June 30, September 30, and December 31. The Convertible Notes mature on December 26, 2019 unless earlier redeemed, repurchased or converted. Ninety-five percent of the outstanding maturity balance was converted on December 26, 2019, as described below. The Convertible Notes were redeemable by the Company for cash, either in whole or in part, at any time, in exchange for the sum of (i) a cash payment equal to the unpaid principal plus all accrued but unpaid interest through the date of redemption and (ii) the present value of the remaining scheduled interest payments discounted to the maturity date at the annual percentage yield on U.S. Treasury securities with maturity similar to the notes plus 25 basis points (the “Optional Redemption”). The Convertible Notes were mandatorily redeemable at par plus the present value of remaining coupons upon (i) the availability of cash from a financing for Mt. Hope and (ii) any other debt financing by the Company. In addition, 50% of any proceeds from the sale of assets cumulatively exceeding $250,000 were to be used to prepay the Convertible Notes at par plus the present value of remaining coupons (the “Mandatory Redemption”). The Convertible Notes were convertible at any time in an amount equal to 80% of the greater of (i) the average VWAP for the 30 Business Day period ending on the Business Day prior to the date of the conversion, or (ii) the average VWAP for the 30 Business Day period ending on the original issuance date of the note. Each Convertible Note could convert into a maximum of 100 shares per note, resulting in the issuance of 8,535,000 shares, or 9.3% of shares outstanding as of December 31, 2014 (the “Conversion Option”). General Moly’s executive management team and board of directors who participated in the offering were restricted from converting at a price less than $0.32, the most recent closing price at the time that the Notes were issued. If the Company underwent a “fundamental change”, the Convertible Notes were to be redeemed for cash at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased plus accrued and unpaid interest, including contingent interest and additional amounts, if any. Examples of a “fundamental change” include the reclassification of the common stock, consolidation or merger of the Company with another entity or sale of all or substantially all of the Company’s assets. During the year ended December 31, 2015, certain holders of the Convertible Notes, including both directors and named executive officers of the Company, elected to convert notes totaling $2.6 million, reducing the principal balance of the Convertible Notes to $5.9 million. Upon conversion, the Convertible Notes holders received 2,625,000 shares of common stock, at conversion prices ranging from $0.3462 to $0.5485, and were issued non-convertible Senior Promissory Notes (“Promissory Notes”) of $1.3 million, pursuant to the terms of the share maximum provision of the Conversion Option. The Promissory Notes had identical terms to the Convertible Notes, with the exception that the holder no longer had a Conversion Option. Accordingly, the Promissory Notes bore interest equal to 10.0% per annum, payable in cash quarterly in arrears on each March 31, June 30, September 30, and December 31 and mature on December 26, 2019. The conversions resulted in a $0.2 million annual reduction in interest payments made by the Company in the servicing of the Notes. On December 27, 2019, the Company closed the Exchange Offer, upon the terms and subject to the conditions set forth in the confidential Offer to Exchange and Subscription Offer dated November 27, 2019. Eligible holders tendered Old Notes with an original principal amount of $6.89 million of the total outstanding of $7.25 million, representing 95% of the outstanding, in the Exchange Offer. For each $1 principal amount of, and accrued and unpaid interest on, Old Notes tendered and accepted by the Company, one unit consisting of $1 principal amount of Exchange Notes and one New Warrant was settled. The Exchange Notes bear interest at an initial rate of 12% per annum. Interest on the Exchange Notes will be paid on March 31, June 30, September 30 and December 31 of each year, commencing on March 31, 2020. The Exchange Notes will mature on December 26, 2022, unless otherwise earlier redeemed. Each New Warrant is exercisable for one share of Common Stock at a price of $0.35 per share for a period of three years. One New Warrant was issued for each dollar of original principal amount of, and accrued and unpaid interest on, Old Notes exchanged for Exchange Notes for a total of 7.2 million New Warrants issued. The Company paid at maturity the unpaid principal and all accrued and unpaid interest in the approximate amount of $368,000 to those eligible holders that elected not to participate in the Exchange Offer. The original principal amount of Old Notes paid at maturity represented approximately 5% of the total outstanding. The maturity date was December 26, 2019. The Notes Warrants issued in connection with the Old Notes expired by their terms on December 26, 2019. The Company may redeem the Exchange Notes for cash, either in whole or in part, at any time, in exchange for the sum of (i) 101% of the amount of unpaid principal and (ii) all accrued but unpaid interest through the date of redemption. The Exchange Notes are mandatorily redeemable (i) upon obtaining debt or equity financing sufficient to cover the construction of Mt. Hope and (ii) upon a “fundamental change” such as a reclassification of the common stock, consolidation or merger of the Company with another entity or sale of all or substantially all of the Company’s assets. In addition, 50% of the proceeds exceeding a specified threshold amount of approximately $6.3 million from a financing in which the Company issues debt securities senior to the Exchange Notes will be used to redeem Exchange Notes. In all cases of mandatory redemption, the redemption amount is equal to the sum of (i) the unpaid principal plus all accrued but unpaid interest through the date of redemption and (ii) the present value of the remaining scheduled interest payments discounted to maturity date at the annual percentage yield on U.S. Treasury securities with maturity similar to the Exchange Notes plus 25 basis points. The Company accounted for the Exchange Offer as an extinguishment of the Old Notes and recorded a gain on extinguishment of $0.1 million. The Exchange Notes and the Exchange Warrants were recorded at fair value at December 27, 2019 of $6.8 million and $0.3 million, respectively. The Company incurred $0.2 million of offering expenses related to the Exchange Offer which was allocated between debt and equity. As a result, the Company recognized $0.2 million as Debt Issuance Costs to be amortized over the term of the Exchange Notes and recognized $8,000 as a reduction of Additional Paid In Capital. New 13% Senior Promissory Notes due December 2022 In addition to the Exchange Offer, certain Participating Holders also elected to participate in the accompanying Subscription Offer to purchase 13,355 units for $100 each, consisting of its newly issued Supplemental Notes and accompanying Warrant, including participation by the largest Old Noteholder investor, as well as the Company’s CEO, Bruce Hansen. One Warrant was also issued for each dollar invested in the Supplemental Notes. The New Warrants have an exercise price of $0.35 per share and have a three-year term. The Participating Holders increased their respective note investment by approximately 20% as additional consideration for the Supplemental Notes, resulting in approximately $1.34 million of new capital to the Company. The supplemental notes are redeemable at any time at the Company’s option, and must be redeemed by the Company under certain circumstances. The Company has agreed not to issue, assume or guarantee any indebtedness that is senior to or pari passu with the Supplemental Notes, provided, however, that the Company may issue no more than $15 million of additional debt securities that rank pari passu with the Supplemental Notes. The transaction value of $1.3 million was allocated between debt for the Supplemental Notes and equity for the accompanying Warrants based on their relative fair value. This resulted in recording $47,000 in Additional Paid in Capital for the Warrants and the remainder as Supplemental Notes. The Company incurred $40,000 of offering expenses related to the Subscription Offer which was allocated between debt and equity. As a result, the Company recognized $38,000 as Debt Issuance Costs to be amortized over the term of the Supplemental Notes and recognized $2,000 as a reduction to Additional Paid in Capital. The Supplemental Notes bear interest at a rate of 13.0% per annum, payable in cash quarterly in arrears on each March 31, June 30, September 30, and December 31. The Supplemental Notes mature December 26, 2022 unless earlier redeemed. The Company may redeem the Supplemental Notes for cash, either in whole or in part, at any time, in exchange for the sum of (i) 101% of the amount of unpaid principal and (ii) all accrued but unpaid interest through the date of redemption. The Supplemental Notes are mandatorily redeemable (i) upon obtaining debt or equity financing sufficient to cover the construction of Mt. Hope and (ii) upon a “fundamental change” such as a reclassification of the common stock, consolidation or merger of the Company with another entity or sale of all or substantially all of the Company’s assets. In either case, the mandatory redemption amount is equal to the sum of (i) the unpaid principal plus all accrued but unpaid interest through the date of redemption and (ii) the present value of the remaining scheduled interest payments discounted to maturity date at the annual percentage yield on U.S. Treasury securities with maturity similar to the Supplemental Notes plus 25 basis points. Embedded Derivatives Based on the redemption and conversion features discussed above, the Company determined that there were embedded derivatives that require bifurcation from the debt instrument and should be accounted for under ASC 815. Embedded derivatives are separated from the host contract, the Convertible Notes, and carried at fair value when: (a) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract; and (b) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument. The Company has concluded that the Mandatory Redemption and Conversion Option features embedded within the Convertible Notes meet these criteria and, as such, must be valued separate and apart from the Convertible Notes as one embedded derivative and recorded at fair value each reporting period (the “Embedded Derivatives”). A probability-weighted calculation was utilized to estimate the fair value of the Mandatory Redemption. The Company used a binomial lattice model in order to estimate the fair value of the Conversion Option in the Convertible Notes. A binomial lattice model generates two probable outcomes, arising at each point in time, starting from the date of valuation until the maturity date. A lattice was initially used to determine if the Convertible Notes would be converted or held at each decision point. Within the lattice model, the Company assumes that the Convertible Notes will be converted early if the conversion value is greater than the holding value. As of March 31, 2020 and December 31, 2019, the carrying value of the Exchange Notes, absent the embedded derivative, was $6.3 and $6.2 million, respectively, inclusive of an unamortized debt discount of $1.0 and $1.1 million. The fair value of the Exchange Notes was $5.8 and $6.2 million at March 31, 2020 and December 31, 2019. As of March 31, 2020 and December 31, 2019, the carrying value of the Supplemental Notes, absent the embedded derivative, was $1.2 and $1.2 million inclusive of an unamortized debt discount of $0.2 and $0.2 million, respectively. The fair value of the Supplemental Notes was $1.1 and $1.2 million at March 31, 2020 and December 31, 2019. The changes in the estimated fair value of the embedded derivatives during the year ended December 31, 2019 resulted in a loss of $14,150. The embedded derivatives in the Exchange Notes and the Supplemental Notes had a fair value of $1.0 million and $0.2 million, respectively, at March 31, 2020. The embedded derivatives in the Exchange Notes and the Supplemental Notes had a fair value of $0.6 million and $0.1 million, respectively, at December 31, 2019. Gain or loss on embedded derivatives is recognized as Interest Expense in the Statement of Operations. The Company has estimated the fair value of the Convertible Notes, Promissory Notes, Exchange Notes, Supplement Notes, and embedded derivatives based on Level 3 inputs. Changes in certain inputs into the valuation models can have a significant impact on changes in the estimated fair value. For example, the estimated fair value of the embedded derivatives will generally decrease with: (1) a decline in the stock price; (2) increases in the estimated stock volatility; and (3) an increase in the estimated credit spread. The following inputs were utilized to measure the fair value of the Notes and embedded derivatives: (i) price of the Company’s common stock; (ii) Conversion Rate (as defined in the Convertible Note); (iii) Conversion Price (as defined in the Convertible Notes); (iv) maturity date; (v) risk-free interest rate; (vi) estimated stock volatility; (vii) estimated credit spread for the Company; (viii) default intensity; and (ix) recovery rate. The following tables set forth the inputs to the models that were used to value the embedded derivatives: March 31, 2020 December 31, 2019 Stock Price 0.16 $ 0.24 Exercise Price 0.50 0.50 Expected Term 7.8 years 7.8 years Stock Volatility 40.0 % 40.0 % Risk-Free Interest Rate 0.6 % 1.8 % Type of Event Expected Date Probability of Event Mandatory Redemption October 17, 2019 Conversion Option March 31, 2019 Note Reaches Maturity December 31, 2019 The following assumptions were utilized to measure the fair value of the Exchange Notes, the Supplemental Notes, and the embedded derivatives at March 31, 2020 and December 31, 2019: (i) estimated market yield; and (ii) estimated probabilities of mandatory redemption.

COMMON STOCK UNITS, COMMON STOC

COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS	3 Months Ended
	Mar. 31, 2020
COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS
COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS	NOTE 6 — COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS During the three months ended March 31, 2020, we issued 369,000 shares of common stock pursuant to stock awards under the 2006 Equity Incentive Plan. During the year ended December 31, 2019, 1,544,926 shares of common stock were issued pursuant to stock awards under the 2006 Equity Incentive Plan. We currently have 98,013,256 warrants outstanding at an exercise price between $0.35 and $5.00 per share. On May 5, 2020, the Company filed a prospectus supplement in both Canada and the United States to its U.S. base shelf prospectus and U.S. registration statement on Form S-3 which enabled the Company, at its discretion from time to time, to sell up to $20 million worth of common shares by way of an at-the-market offering. The S-3 has not been declared effective by the SEC as of May 9, 2020. On March 12, 2020, the Company was advised by the NYSE American that the price deficiency had not been cured by the end of the six-month period, but that the NYSE American has granted the Company additional time until its 2020 Annual Meeting of Stockholders to implement a reverse stock split. The Company plans to seek shareholder approval of a reverse stock split proposal at its 2020 Annual Meeting of Stockholders. In the interim, the Company’s common stock remains listed on the NYSE American, under the trading symbol “GMO”, subject to the Company’s compliance with other continued listing requirements and subject to the trading price remaining above a required $0.06 minimum per share. The NYSE American has added the designation of “.BC” to indicate that the Company is below compliance with the listing standards set forth in the Company Guide. On October 17, 2018, the Company announced an underwritten public offering of 9,151,000 units at a price of $0.25 per share, with each unit consisting of one share of common stock accompanied by one warrant exercisable for one share of common stock immediately upon closing at a price of $0.35 per share. The offering provided net proceeds of approximately $1.9 million after underwriting commissions and expenses. Mr. Bruce Hansen, Chief Executive Officer of the Company and a related party, participated in the offering for a total of $0.5 million. The Company used the proceeds for general corporate purposes, including the ongoing preliminary drilling program for the exploration of zinc, copper and silver mineralization at the southeast area of the Mt. Hope Project. On December 9, 2019, the Company and an affiliate of AMER announced the closure of a $4 million private placement at a price of $0.40 per common share of General Moly under a new Securities Purchase Agreement (“SPA”) and amended and restated warrant agreement for the purchase of up to 80 million shares of common stock at $0.50 per share (“New AMER Warrant”), resolving the Dispute. Additionally, the parties agreed to a mutual release, terminating the previous AMER Investment Agreement, the prior Warrant, and the Dispute Negotiation Extension Agreement (“Extension Agreement”). These warrants are not indexed to the Company’s own stock. Therefore, these warrants are classified as a liability and subsequently measured at fair value with changes in fair value recorded as other income/expense in the Statements of Operations. The Company uses a Monte Carlo Simulation to determine the fair value of the warrants at the end of each reporting period based on the number of warrants expected to vest. At March 31, 2020 and December 31, 2019, the warrants had a fair value of $0.4 million and $1.1 million, respectively, resulting in a non-cash gain of $0.7 million recorded as other income in the Statement of Operations. The following inputs to the model were used at March 31, 2020 and December 31, 2019: March 31, 2020 December 31, 2019 Stock Price 0.16 $ 0.24 Exercise Price 0.50 0.50 Expected Term 7.8 years 7.8 years Stock Volatility 40.0 % 40.0 % Risk-Free Interest Rate 0.6 % 1.8 % On December 27, 2019, the Company issued warrants to purchase 8,556,456 shares of common stock in connection with the exchange of its senior notes as discussed above at an exercise price of $0.35 with a three-year term. These warrants are equity-classified. The Company used a Black-Scholes model to determine the fair value of the warrants at the date of issuance using the following inputs to the model: December 27, 2019 Stock Price $ 0.23 Exercise Price $ 0.35 Expected Term 3.0 years Stock Volatility 40.0 % Risk-Free Interest Rate 1.6 % Of the warrants outstanding at March 31, 2020, 8.6 million are exercisable at $0.35 per share at any time from December 27, 2019 through their expiration on December 26, 2022, 1.0 million are exercisable at $5.00 per share once General Moly has received financing necessary for the commencement of commercial production at the Mt. Hope Project and will expire one year thereafter, and the 80.0 million shares of the AMER Warrant will become exercisable in increments of 12 million shares for each $100 million in Bank Loan financing AMER assists in arranging. Pursuant to our amended Certificate of Incorporation, approved by the stockholders at the general meeting of June 30, 2015, we are authorized to issue 650.0 million shares of $0.001 par value common stock. All shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.

REDEEMABLE PREFERRED STOCK

REDEEMABLE PREFERRED STOCK	3 Months Ended
	Mar. 31, 2020
REDEEMABLE PREFERRED STOCK
REDEEMABLE PREFERRED STOCK	NOTE 7 — REDEEMABLE PREFERRED STOCK Pursuant to our Certificate of Incorporation we are authorized to issue 10,000,000 shares of $0.001 per share par value preferred stock, of which 55,000 shares are designated as Series A Preferred Stock Shares and 5,000 are designated as Series B Preferred Stock Shares as of March 31, 2020. The authorized but unissued shares of preferred stock may be issued in designated series from time to time by one or more resolutions adopted by the Board. The Board has the authority to determine the preferences, limitations and relative rights of each series of preferred stock. During the year ended December 31, 2019, the Company issued 14,000 shares of Series A Preferred in a series of private placement agreements. The Series A Preferred Shares were priced at $100.00/ share and are convertible at any time at the holder’s discretion into common shares whereby one preferred share converts at a price of $0.27/common share to 370.37 common shares. The conversion price was set at the closing price of the Company’s common stock on March 12, 2019, which was the day before announcement of the private placement. Upon maturity or full repayment of the Senior Convertible Notes and Promissory Notes currently outstanding, there will be mandatory redemption of the preferred shares in exchange for equivalent cash for the principal invested, plus any accrued and unpaid dividends. The holders of the Series A Preferred Shares are entitled to receive, when and if declared by the Board of Directors and in preference to the common stock, cumulative cash or in-kind dividends at a rate per annum of 5% of the original issue price. In the event of a liquidation, dissolution, or winding up of the Company, the proceeds would be distributed first to the holders of Series A Preferred Shares prior to any distributions to holders of other stock in an amount per share equal to the original issue price plus any declared but unpaid dividends. The holders of Series A Preferred Shares are entitled to vote, together with the holders of common stock, as if the Series A Preferred Shares had been converted to common stock on all matters submitted to stockholders for vote. In addition, the Series A Preferred Shares contains certain protective rights that require the vote or consent of the holders of at least a majority of the shares of Series A Preferred Shares. Of the 14,000 shares issued during the year ended December 31, 2019, 5,000 shares were issued to MHMI. On May 29, 2019, MHMI assigned their interest in 4,500 of the shares to various investors in their entity. MHMI retained 500 shares. In addition to the Series A Convertible Preferred Shares terms described in Note 1 above, MHMI and their investors had a one-time right to require the Company to redeem all or a portion of the Series A Convertible Preferred Shares upon the receipt of a minimum of $5,000,000 from the close of Tranche 3 of the amended AMER Investment Agreement. MHMI and their investors converted all of their preferred shares to 1,851,844 common shares during the fourth quarter of 2019. As the Series A Preferred Shares are redeemable upon maturity or full repayment of the Senior Convertible Notes and Promissory Notes, it has been classified as mezzanine equity in our Consolidated Balance Sheets. The Company recognizes change in the redemption value as they occur by adjusting the carrying amount of the mezzanine equity at each reporting date. The change in the redemption value of the Series A due to accrued and unpaid dividends since its issuance is insignificant. On August 2, 2019, the Company filed a Certificate of Designation of Series B Preferred Stock with the Delaware Secretary of State, designating 5,000 shares of preferred stock the Series B Convertible Preferred Shares. On August 5, 2019, the Company executed the Series B Purchase Agreement with the Investors. Pursuant to the Series B Purchase Agreement, the Investors agreed to purchase up to $400,000 of Series B Convertible Preferred Shares. This transaction closed on August 7, 2019. The Series B Convertible Preferred Shares were issued at a price of $100.00 per share, and each Series B Convertible Preferred Share will be convertible at any time at the holder’s discretion into 500 shares of common stock of the Company. The Series B Convertible Preferred Shares carry a 5% annual dividend, which may be paid, in the Company’s sole discretion, in cash, additional shares of Series B Convertible Preferred Shares or a combination thereof. The Series B Convertible Preferred Shares, like the Series A Convertible Preferred Shares, are mandatorily redeemable at such time that the Company’s $7.2 million Convertible Note debt currently outstanding become due and payable in accordance with their terms, as such terms may be modified from time to time. On March 27, 2020, the Company filed Certificates of Amendment to the Certificates of Designation for the Series A and B Convertible Preferred Stock clarifying that the private exchange offer completed by the Company in December 2019, constituted a modification of the Old Notes for purposes of the mandatory redemption provisions of the Series A and B Preferred Shares. Accordingly, the Series A and B Preferred Shares are mandatorily redeemable on such date as a majority of the then-outstanding principal amount of the Exchange Notes become due and payable in accordance with their terms (as may be altered by modification, amendment, exchange or otherwise, from time to time).

EQUITY INCENTIVES

EQUITY INCENTIVES	3 Months Ended
	Mar. 31, 2020
EQUITY INCENTIVES
EQUITY INCENTIVES	NOTE 8 — EQUITY INCENTIVES In 2006, the Board and shareholders of the Company approved the 2006 Equity Incentive Plan (“2006 Plan”), and in May 2010, our shareholders approved an amendment and restatement of the 2006 Plan increasing the number of shares that may be issued under the plan by 4,500,000 shares to 9,600,000 shares and extend the expiration date of the 2006 Plan to May 2020, as well as making other technical changes related to tax law and accounting rule changes, and to make administrative clarifying changes. In June 2016, our shareholders approved an additional amendment to the 2006 Plan increasing the number of shares that may be issued under the plan by 5,000,000 shares to 14,600,000 shares. In June 2019, our shareholders approved an amendment and restatement of the 2006 Plan increasing the number of shares that may be issued under the plan by 6,500,000 shares to 21,100,000 shares. The 2006 Plan authorizes the Board, or a committee of the Board, to issue or transfer up to an aggregate of 21,100,000 shares of common stock, of which 7,855,920 remain available for issuance as of March 31, 2020. Awards under the 2006 Plan may include incentive stock options, non-statutory stock options, restricted stock units, restricted stock awards, and stock appreciation rights (“SARs”). At the option of the Board, SARs may be settled with cash, shares, or a combination of cash and shares. The Company settles the exercise of other stock-based compensation with newly issued common shares. Stock-based compensation cost is estimated at the grant date based on the award’s fair value as calculated by the Black-Scholes option pricing model and is recognized as compensation ratably on a straight-line basis over the requisite vesting/service period. As of March 31, 2020, there was $0.4 million of total unrecognized compensation cost related to share-based compensation arrangements, which is expected to be recognized over a weighted-average period of 1.4 years. Stock Options and Stock Appreciation Rights All stock options and SARs are approved by the Board prior to or on the date of grant. Stock options and SARs are granted at an exercise price equal to or greater than the Company’s closing stock price on the date of grant. Both award types vest over a period of zero to three years with a contractual term of five years after vesting. The Company estimates the fair value of stock options and SARs using the Black-Scholes valuation model. Key inputs and assumptions used to estimate the fair value of stock options and SARs include the grant price of the award, expected option term, volatility of the Company’s stock, the risk-free rate and the Company’s dividend yield. At March 31, 2020, the outstanding and exercisable (fully vested) SARs had an aggregate intrinsic value of nil and had a weighted-average remaining contractual term of 1.1 years. No SARs were exercised during the three months ended March 31, 2020. Restricted Stock Units and Stock Awards Grants of restricted stock units and stock awards (“Stock Awards”) have been granted as performance based awards, earned over a required service period, or to Board members and the Company Secretary without any service requirement. Performance based grants are recognized as compensation based on the probable outcome of achieving the performance condition. Stock Awards issued to members of the Board of Directors and the Company Secretary that are fully vested at the time of issuance are recognized as compensation upon grant of the award. The compensation expense recognized by the Company for Stock Awards is based on the closing market price of the Company’s common stock on the date of grant. For the three months ended March 31, 2020, the weighted-average grant date fair value for Stock Awards was $0.24. The total fair value of stock awards vested during the three months ended March 31, 2020 is $0.1 million. Summary of Equity Incentive Awards The following table summarizes activity under the Plans during the three months ended March 31, 2020: SARs Stock Awards Weighted Number Weighted Average of Shares Average Strike Under Grant Number of Price Option Price Shares Balance at January 1, 2019 $ 3.19 938,667 $ 1.18 2,401,268 Awards Granted — — 0.24 135,000 Awards Exercised or Earned — — 0.38 (2,115,000) Awards Forfeited — — — — Awards Expired 2.56 (28,830) — — Balance at December 31, 2019 $ 3.21 909,837 $ 4.90 421,268 Exercisable at December 31, 2019 $ 1.69 27,693 SARs Stock Awards Weighted Number Weighted Average of Shares Average Strike Under Grant Number of Price Option Price Shares Balance at January 1, 2020 $ 3.21 909,837 $ 4.90 421,268 Awards Granted — — 0.24 2,569,000 Awards Exercised or Earned — — 0.38 (369,000) Awards Forfeited — — — — Awards Expired — — — — Balance at March 31, 2020 $ 3.21 909,837 $ 0.99 2,621,268 Exercisable at March 31, 2020 $ 1.69 27,693 A summary of the status of the non-vested awards as of March 31, 2020 and changes during the three months there ended is presented below: SARs Stock Awards Weighted Number Weighted Average of Shares Average Fair Under Fair Number of Value Option Value Shares Balance at January 1, 2019 $ 3.25 892,896 $ 1.44 1,735,553 Awards Granted — — 0.39 2,145,000 Awards Vested or Earned — — 0.30 (1,435,000) Awards Forfeited 1.15 (10,752) 1.46 (44,285) Balance at March 31, 2019 $ 3.26 882,144 $ 1.18 2,401,268 Weighted Number Weighted Average of Shares Average Fair Under Fair Number of Value Option Value Shares Balance at January 1, 2020 $ 3.26 882,144 $ 1.18 2,401,268 Awards Granted — — 0.24 135,000 Awards Vested or Earned — — 0.38 (2,115,000) Awards Forfeited — — — — Balance at March 31, 2020 $ 3.26 882,144 $ 4.90 421,268 Balance at December 31, 2020

CHANGES IN CONTINGENTLY REDEEMA

CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST (CRNCI)	3 Months Ended
	Mar. 31, 2020
CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST (CRNCI)
CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST (CRNCI)	NOTE 9 — CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST AND EQUITY Activity for Three Months Ended March 31, March 31, Changes CRNCI (Dollars in thousands) 2020 2019 Total CRNCI December 31, 2019 and 2018, respectively $ $ 172,261 Net Loss Attributable to CRNCI 75 (36) Total CRNCI March 31, 2020 and 2019, respectively $ $ 172,225 Activity for Three Months Ended March 31, March 31, Changes Redeemable Preferred Stock (Dollars in thousands) 2020 2019 Total Redeemable Preferred Stock December 31, 2019 and 2018, respectively $ 1,300 $ — Redeemable Preferred Stock Issued — 300 Preferred Stock Redeemed — — Total Redeemable Preferred Stock March 31, 2020 and 2019, respectively $ 1,300 $ 300

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
INCOME TAXES
INCOME TAXES	NOTE 10 — INCOME TAXES At March 31, 2020 and December 31, 2019, we had deferred tax assets principally arising from the net operating loss carry-forwards for income tax purposes multiplied by an expected rate of 21%. As management of the Company cannot determine that it is more likely than not that we will realize the benefit of the deferred tax assets, a valuation allowance equal to the net deferred tax asset has been established at March 31, 2020 and December 31, 2019. We establish a valuation allowance against the deferred tax assets if, based on available information, it is more likely than not that all of the assets will not be realized. The valuation allowance of $35,429 and $35,429 at March 31, 2020 and December 31, 2019, respectively, relates mainly to net operating loss carryforwards where the utilization of such attributes is not more likely than not. The Company continually assesses both positive and negative evidence to determine whether it is more likely than not that deferred tax assets can be realized prior to their expiration. As of March 31, 2020 and December 31, 2019, the Company had federal net operating losses of $281.3 and $280 million. $261 million of the losses were generated before 2018 and expire in varying amounts in 2021-2037. Losses generated after 2017 of $19 million have an indefinite carryover period. As of March 31, 2020 and 2019, the Company had no unrecognized tax benefits. There was no change in the amount of unrecognized tax benefits as a result of tax positions taken during the year or in prior periods or due to settlements with taxing authorities or lapses of applicable statues of limitations. On March 27, 2020, President Trump signed into U.S. federal law the CARES Act, which is aimed at providing emergency assistance and health care for individuals, families, and businesses affected by the COVID-19 pandemic and generally supporting the U.S. economy. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit (“AMT”) refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. In particular, the CARES Act, (i) eliminates the 80% of taxable income limitation by allowing corporate entities to fully utilize NOLs to offset taxable income in 2018, 2019 or 2020, (ii) increases the net interest expense deduction limit to 50% of adjusted taxable income from 30% for tax years beginning January 1, 2019 and 2020 and (iv) allows taxpayers with AMT credits to claim a refund in 2020 for the entire amount of the credit instead of recovering the credit through refunds over a period of years, as originally enacted by the Tax Cuts and Jobs Act in 2017. The Company is in the process of analyzing the different aspects of the CARES Act to quantify the impact of these provisions on the Company’s income taxes. The Company and/or its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. Without exception, the Company is no longer subject to U.S. Federal, state and local income tax examinations by tax authorities for years before 2014. The Company is open to federal and state tax audits until the applicable statutes of limitations expire.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 11 — COMMITMENTS AND CONTINGENCIES Mt. Hope Project The Mt. Hope Project is owned/leased and will be operated by the LLC under the LLC Agreement. The LLC currently has a lease (“Mt. Hope Lease”) with Mount Hope Mines, Inc. (“MHMI”) for a period of 30 years from October 19, 2005 and for so long thereafter as operations are being conducted on the property. The lease may be terminated earlier at the election of the LLC, or upon a material breach of the agreement and failure to cure such breach. If the LLC terminates the lease, termination is effective 30 days after receipt by MHMI of written notice to terminate the Mt. Hope Lease and no further payments would be due to MHMI. If MHMI terminates the lease, termination is effective upon receipt of a notice of termination due to a material breach, representation, warranty, covenant or term contained in the Mt. Hope Lease and followed by failure to cure such breach within 90 days of receipt of a notice of default. MHMI may also elect to terminate the Mt. Hope Lease if the LLC has not cured the non-payment of obligations under the lease within 10 days of receipt of a notice of default. In order to maintain the Lease Agreement, the LLC must pay certain minimum advance royalties as discussed below. The Mt. Hope Lease requires a royalty advance (“Construction Royalty Advance”) of 3% of certain construction capital costs, as defined in the Mt. Hope Lease. The LLC is obligated to pay a portion of the Construction Royalty Advance each time capital is raised for the Mt. Hope Project based on 3% of the expected capital to be used for those certain construction capital costs defined in the Mt. Hope Lease. Through March 31, 2020, we have paid $26.1 million of the total royalty advance. Based on our Mt. Hope Project capital budget we estimate that a final reconciliation payment on the Capital Construction Cost Estimate (the “Estimate”) will be due following the commencement of commercial production, after as-built costs are definitively determined. The Company estimates, based on the revised capital estimate discussed above and the current timeline for the commencement of commercial production, that an additional $5.4 million will be due approximately 24 months after the commencement of construction. This amount has been accrued for all periods presented as accrued advance royalties. The capital estimates may be subject to escalation in the event the Company experiences continued delays in achieving full financing for the Mt. Hope Project. The LLC is also obligated to make a minimum annual advance royalty payment (“Annual Advance Royalty”) of $0.5 million each October 19 for any year wherein commercial production has not been achieved or the MHMI Production Royalty (as hereinafter defined) is less than $0.5 million. As commercial production is not anticipated to commence before early-2022, the Company has accrued $2.0 million in Annual Advance Royalty payments which will be due in four $0.5 million installments in October 2020, 2021, 2022, and 2023 respectively. The Estimate and the Annual Advance Royalty are collectively referred to as the “Advance Royalties.” All Advance Royalties are credited against the MHMI Production Royalties once the mine has achieved commercial production. After the mine begins production, the LLC estimates that the MHMI Production Royalties will be in excess of the Annual Advance Royalties for the life of the Mt. Hope Project. Until the advance royalties are fully credited, the LLC will pay one half of the calculated Production Royalty annually. Assuming a $12 molybdenum price, the Annual Advance Royalties will be consumed within the first five years of commercial production. On February 28, 2018, the LLC) and MHMI entered into a Second Amendment dated effective January 15, 2018 (the “Lease Amendment”), to the Mt. Hope Lease. The Lease Amendment provides that following commencement of commercial production of any non- molybdenum minerals at the Mt. Hope Project, the LLC will pay a production royalty to MHMI as follows: · For zinc, the production royalty shall be equal to (i) 4.0% of net returns when the average gross value for the calendar quarter is less than or equal to $2.00 per pound; (ii) 4.5% of net returns when the average gross value is between $2.01 and $2.49 per pound; and (iii) 5.0% of net returns when the average gross value is $2.50 per pound or greater; and · For all other non-molybdenum minerals, the production royalty shall be equal to 4.0% of net returns. If commercial production of non-molybdenum minerals commences before commercial production of molybdenum, the Lease Amendment provides that the LLC’s obligation to pay the annual advance royalty under the Mt. Hope Lease will continue until the LLC has paid MHMI an aggregate of $3 million in non-moly production royalties in a three-year period. After this threshold is met, then payment of the advance royalty may be deferred in whole or in part if the non-moly production royalty exceeds specified levels. After non-moly production royalties have exceeded $10,000,000, future payments may be credited against future production royalties under certain circumstances. Additionally, Exxon Corporation will receive a perpetual 1% royalty interest in and to all ores, metals, minerals and metallic substances mineable or recoverable from the Mt. Hope Project in kind at the mine or may elect to receive cash payment equal to 1% of the total amount of gross payments received from the purchaser of ores mined/removed/sold from property net of certain deductions. The Liberty Project Liberty Moly continues to work with the Nevada Division of Environmental Protection (“NDEP”) to address environmental concerns with some Liberty Project facilities acquired with the property. We have implemented remedial treatment of the Liberty pit lake and developed and implemented procedures to manage process solutions draining from the pre-existing leach pad, as required by NDEP. We may be required to treat the pit lake again, and/or revise our systems to manage heap leach solution. At this time we are working with NDEP to reasonably estimate the scope and costs of addressing these issues.. Deposits on project property, plant and equipment As discussed in Note 1, the LLC has active orders with varying stages of fabrication on milling process equipment comprised of two 230kV primary transformers and substation, a primary crusher, a semi-autogenous mill, two ball mills, and various motors for the mills with remaining cash commitments of $0.6 million due on these orders. Equipment and Supply Procurement Through March 31, 2020, the LLC has made deposits and/or final payments of $88.0 million on equipment orders and has spent approximately $208.9 million for the development of the Mt. Hope Project, for a total Mt. Hope Project inception-to-date spend of $298.9 million. In 2012, the LLC issued a firm purchase order for eighteen haul trucks. The order provides for delivery of those haul trucks required to perform initial mine development, which will begin several months prior to commercial production. Non-refundable down-payments of $1.2 million were made in 2012, with pricing subject to escalation as the trucks were not delivered prior to December 31, 2013. Since that time, the LLC has renegotiated the timelines for truck delivery and delayed deliveries into December 2020. The contract is cancellable with no further liability to the LLC. Also in 2012, the LLC issued a firm purchase order for four mine production drills with a non-refundable down-payment of $0.4 million, and pricing was subject to escalation if the drills were not delivered by the end of 2013. Since that time, the LLC accepted a change order which delayed delivery into December 2020. The contract remains cancellable with no further liability to the LLC. On June 30, 2012, the LLC’s contract to purchase two electric shovels expired. On July 11, 2012, we signed a letter of intent with the same vendor providing for the opportunity to purchase the electric shovels at prices consistent with the expired contract, less a special discount in the amount of $3.4 million to provide credit to the LLC for amounts paid as deposits under the expired contract. The letter of intent provides that equipment pricing will remain subject to inflation indexes and guarantees production slots to ensure that the equipment is available when required by the LLC. Since that time, the parties agreed to extend the letter of intent through December 31, 2020. Obligations under capital and operating leases We have contractual operating leases that will require a total of $0.1 million in payments over the next three years. Operating leases consist primarily of rents on office facilities and office equipment. Our expected payments are $0.1 million, nil, and nil for the years ended December 31, 2020, 2021, and 2022, respectively. Creation of Agricultural Sustainability Trust On August 19, 2010, the LLC entered into an agreement with the Eureka Producers’ Cooperative (“EPC”), which was amended on October 15, 2018, whereby the LLC will fund a $5.6 million Sustainability Trust (“Trust”) in exchange for the cooperation of the EPC with respect to the LLC’s water rights and permitting of the Mt. Hope Project. The Trust will be tasked with developing and implementing programs that will serve to enhance the sustainability and well-being of the agricultural economy in the Diamond Valley Hydrographic Basin through reduced water consumption. The LLC has contributed $0.1 million into the Trust as of March 31, 2020. The remaining contributions to the Trust may be funded by the LLC over several years based on the achievement of certain milestones, which are considered probable, and as such $5.5 million has been accrued in the Company’s financial statements and is included in mining properties, land, and water rights. Permitting Considerations In the ordinary course of business, mining companies are required to seek governmental permits for expansion of existing operations or for the commencement of new operations. The LLC is required to obtain approval, in the form of a Record of Decision (“ROD”), from the BLM to implement the Mt. Hope Project Plan of Operations (“PoO”). The LLC is also required to obtain various state and federal permits including, but not limited to, water protection, air quality, water rights and reclamation. In addition to requiring permits for the development of the Mt. Hope Project, we will need to obtain and modify various mining and environmental permits during the life of the Mt. Hope Project. Maintaining, modifying, and renewing the necessary governmental permits is a complex and time-consuming process involving numerous jurisdictions and often involving public hearings and substantial expenditures. The duration and success of the LLC’s efforts to obtain, modify or renew permits will be contingent upon many variables, some of which are not within the LLC’s control. Increased costs or delays could occur, depending on the nature of the activity to be permitted and the interpretation of applicable requirements implemented by the permitting authority. All necessary permits may not be obtained and, if obtained, may not be renewed, or the costs involved in each case may exceed those that we previously estimated. In addition, it is possible that compliance with such permits may result in additional costs and delays. History of Record of Decision (ROD) On November 16, 2012, the BLM issued its initial ROD authorizing development of the Mt. Hope Project. The ROD was subsequently vacated by the U.S. Court of Appeals for the Ninth Circuit in December 2016, discussed below. Also, on April 23, 2015, the BLM issued a Finding of No Significant Impact (“FONSI”) supporting their Decision to approve an amendment to the PoO. The initial ROD and FONSI/Decision approved the PoO and amended PoO, respectively, for construction and operation of the mining and processing facilities and also granted the Right-of-Way, and amended Right-of-Way, respectively, for a 230kV power transmission line, discussed below. Monitoring and mitigation measures identified in the initial ROD and FONSI, developed in collaboration with the regulatory agencies involved throughout the permitting process, will avoid, minimize, and mitigate environmental impacts, and reflect the Company’s commitment to be good stewards of the environment. Ongoing changes to permits and the PoO during the life of mining operations are typical as design evolves and operations are optimized. On February 15, 2013, Great Basin Resource Watch and the Western Shoshone Defense Project (“Plaintiffs”) filed a Complaint against the U.S. Department of the Interior and the BLM (“Defendants”) in the U.S. District Court, District of Nevada (“District Court”), seeking relief under the National Environmental Policy Act (“NEPA”) and other federal laws challenging the BLM’s issuance of the initial ROD for the Mt. Hope Project, and on February 20, 2013 filed a Motion for Preliminary Injunction. The District Court allowed the LLC to intervene in the matter. On August 22, 2013, the District Court denied, without prejudice, Plaintiffs’ Motion for Preliminary Injunction based on a Joint Stipulation to Continue Preliminary Injunction Oral Argument, which advised the District Court that as a result of economic conditions, including the Company’s ongoing financing efforts, all major ground disturbing activities had ceased at the Mt. Hope Project. On July 23, 2014, the District Court denied Plaintiffs’ motion for summary judgment in its entirety and on August 1, 2014 the Court entered judgment in favor of the Defendants and the LLC, and against Plaintiffs regarding all claims raised in the Complaint. Thereafter, on September 22, 2014, the Plaintiffs filed their notice of appeal to the U.S. Court of Appeals for the Ninth Circuit (“Ninth Circuit”) of the District Court’s dismissal. Oral argument of the parties before the Ninth Circuit was completed on October 18, 2016. O n December 28, 2016, the Ninth Circuit issued its Opinion rejecting many of the arguments raised by the Plaintiffs challenging the Environmental Impact Statement ("EIS") completed for the Mt. Hope Project, but issued a narrow reversal of the BLM's findings related to air quality analysis and information related to potential public water resources. Because of this technical deficiency, the Court vacated the initial ROD. Re-Issuance of Record of Decision Approving Supplemental Environmental Impact Statement (“SEIS”) On remand to the BLM, the agency conducted additional evaluation of air quality impacts and resulting cumulative impact analysis under NEPA in preparation of a Supplemental Environmental Impact Statement (“SEIS”). The SEIS disclosed additional information to the public related to the selection of appropriate background concentrations to use for dispersion modeling of air pollutants and information related to potential public water reserves. Because the SEIS must be prepared in accordance with NEPA guidelines, the SEIS process included three publications in the Federal Register: the first was the Notice of Intent (“NOI”) which was published on July 19, 2017; the second, the Notice of Availability (“NOA”) of the Draft SEIS (“DSEIS”) was published on March 6, 2019; and on September 27, 2019, the third, an NOA of the final SEIS was published announcing that the BLM had re-issued the ROD marking completion of the NEPA process and approval of the SEIS. On October 31, 2019, a Complaint was filed against the U.S. Department of Interior and the BLM in the U.S. District Court in Nevada, challenging the re-issuance of the ROD. On March 11, 2020, the LLC filed its unopposed Motion to Intervene in the U.S. District Court on behalf of the Mt. Hope Project. The District Court approved the LLC’s intervention on March 19, 2020 and the LLC’s Answer to the Complaint was filed on March 20, 2020. The LLC will work closely with the BLM and DOI to defend the claims filed by Great Basin Resource Watch and Western Shoshone Defense Project. Reclamation Considerations Environmental regulations related to reclamation require that the cost for a third party contractor to perform reclamation activities on the minesite be estimated. In October 2015, we submitted a request to the BLM to reduce our reclamation liability to current surface disturbance. Simultaneously, we submitted an application to NDEP-BMRR to modify the Reclamation Permit to reflect this reduced reclamation liability. On October 26, 2015, NDEP-BMRR approved the proposed permit modification, including the reduced reclamation liability amount. On December 21, 2015, BLM approved the updated reclamation liability estimate, reducing of the reclamation liability to approximately $2.8 million. In early 2019, the Company submitted, and BLM approved a required 3-year update to the reclamation liability estimate, resulting in an increased liability of approximately $3.1 million. We worked with the LLC’s reclamation surety underwriters to satisfy the $2.8 million financial guarantee requirements under the approved amended PoO for the Mt. Hope Project and funded the $0.3 million increase in cash directly with the BLM in April 2019. As of March 31, 2020, the surety bond program was funded with a cash collateral payment of $0.3 million. Water Rights Considerations History of Mt. Hope Water Permits In July 2011, the Nevada State Engineer (“State Engineer”) initially approved our applications for new appropriation of water for mining and milling use, and applications to change existing water from agricultural use to mining and milling use for the Mt. Hope Project. Subsequently, the State Engineer granted water permits associated with the approved applications and approved a Monitoring, Management and Mitigation Plan (“3M Plan”) for the Mt. Hope Project. Eureka County, Nevada and two other parties comprised of water rights holders in Diamond Valley and Kobeh Valley appealed the State Engineer’s decision approving the applications and granting the water permits to the Nevada State District Court (“District Court”) and then filed a further appeal to the Nevada Supreme Court challenging the District Court’s decision affirming the State Engineer’s decision to approve the applications and grant the water permits. In June 2013, the appeal was consolidated by the Nevada Supreme Court with an appeal of the State Engineer’s approval of the 3M Plan filed by two water rights holders. The District Court previously upheld the State Engineer’s approval of the 3M Plan and the two parties subsequently appealed the District Court’s decision to the Nevada Supreme Court. On September 18, 2015, the Nevada Supreme Court issued an Order that reversed and remanded the cases to the District Court for further proceedings consistent with the Order. On October 29, 2015, the Nevada Supreme Court issued the Order as a published Opinion. The Nevada Supreme Court ruled that the State Engineer did not have sufficient evidence in the record at the time he approved the applications and granted the water permits to demonstrate that successful mitigation may be undertaken so as to dispel the threat to existing water rights holders. On September 27, 2017, the Nevada Supreme Court affirmed a March 4, 2016 District Court Order vacating the 3M Plan, denying the water applications and vacating the permits issued by the State Engineer in July 2011 and June 2012. This decision of the Nevada Supreme Court was final, and not subject to further appeal. New Change Applications for Water Use at Mt. Hope Project After the Company received the September 2017 decision from the Nevada Supreme Court, it proceeded with new applications to change existing agricultural irrigation and mining/milling water rights owned by the Company to use at the Mt. Hope Project. These new change applications had been filed with the State Engineer in 2015 and 2016 while the above described appeals were pending before the Nevada Supreme Court. Originally, these applications and other new appropriation applications were to be addressed at a pre-hearing conference scheduled on August 25, 2016 before the State Engineer. These applications were the subject of a Writ of Prohibition or Mandamus (“Writ”) filed by Eureka County on August 23, 2016 to the Nevada Supreme Court seeking the Supreme Court’s intervention to stop further action by the State Engineer while the appeals discussed above were pending. On December 22, 2017 the Nevada Supreme Court denied Eureka County’s Writ Petition. As a result, the State Engineer allowed a pre-hearing conference held on January 24, 2018. At the pre-hearing conference the State Engineer and his hearing officer scheduled review of the new change applications for a September 11, 2018 hearing in Carson City, Nevada. On January 2, 2018, Eureka County, and later joined by the other two protestants representing a rancher in Kobeh Valley and a ranching group in Diamond Valley, filed a motion to dismiss with the State Engineer asserting that our applications were precluded from review and approval asserting that they were repetitive of the applications denied previously by the Nevada Supreme Court in its September 2017 decision. On March 26, 2018, the State Engineer issued a non-final order denying the motion to dismiss finding that the applications to be reviewed at the upcoming hearing were not identical issues and that further consideration of the motion could be taken at the hearing. On May 14, 2018, Eureka County, joined by the other protestants filed a Writ to the Nevada Supreme Court and later a Motion to Stay the September hearing date, asserting that the denial of the Motion to Dismiss was erroneous and that the Nevada Supreme Court should order that the applications be denied and/or the September 2018 hearing should be delayed until the Nevada Supreme Court can consider the Writ and underlying motion to dismiss. The Company filed its objection on June 27, 2018, and on August 30, 2018, the Nevada Supreme Court denied the Writ, permitting the September 2018 hearing before the Nevada State Engineer to proceed. On the second day of the September hearing, all protest issues raised by Eureka County and the Diamond Natural Resources Protections & Conservation Association (“DNR”) concerning the Mt. Hope water rights applications were resolved through a Stipulation, Settlement Agreement and Withdrawal of Protest (“Settlement”). After Eureka County and DNR were excused, the hearing continued with evidence addressing concerns raised by another protestant representing a Kobeh Valley ranching family and cattle company that refused to participate in the Settlement. At the public hearing, the Company presented expert testimony in support of its augmentation and monitoring plan to the Nevada State Engineer, which will protect senior water rights in the Kobeh Valley basin when the Company commences construction and operation of its proposed Mt. Hope molybdenum project near the town of Eureka, Nevada. The hearing concluded on September 21, 2018. Effective April 30, 2019, the Company, through its wholly owned subsidiary Kobeh Valley Ranch LLC (“KVR”) entered into a settlement agreement with a Kobeh Valley, Nevada ranching family (“Ranchers”), resolving the last set of protests pending before the Nevada State Engineer pertaining to the Mt. Hope Project’s water rights applications. On June 6, 2019, the Nevada State Engineer issued Ruling 6464 granting the Company’s water rights applications for mining purposes. The water right permits for the Mt. Hope Project were issued on July 24, 2019. With receipt of and in compliance with the terms of the water permits, the water is available for consumptive use at the Mt. Hope Project. Neither the issuance of Ruling 6464 nor the issuance of the water permits were challenged, and the deadline for filing any appeal has expired. Key Terms of Settlements Eureka County and the DNR Under the terms of the Settlement with Eureka County and the DNR, the Company and the LLC agreed to convey all related water rights for Mt. Hope Project at the future cessation of all mining activity to assist Eureka County and the DNR’s efforts to mitigate the pre-existing effects of agricultural groundwater pumping in Diamond Valley. Furthermore, upon construction of certain power infrastructure and grants of right of way by the LLC at the Mt. Hope Project, the Company and the LLC will work cooperatively with Eureka County to allow use of and access to such infrastructure to lessen the pre-existing effects of Diamond Valley groundwater pumping. Eureka County, and the Company and the LLC, also agreed to work cooperatively to seek opportunities to improve and implement groundwater monitoring efforts. In addition, the Company withdrew its protests to Eureka County’s pending applications with the Nevada State Engineer to appropriate water from the Kobeh Valley basin, and at the request of DNR, the Company also agreed to publicly support the proposed Diamond Valley Ground Water Management Plan currently pending before the Nevada State Engineer. With receipt of the water permits, the LLC increased its financial contributions to the existing Agricultural Sustainability Trust Agreement, discussed above, with the Eureka Producers’ Cooperative (“EPC”) in Diamond Valley with an additional $50,000 to EPC. Initially, upon execution of the Settlement, the LLC made a payment of $50,000. The LLC will make additional contributions of $750,000 each after the commencement of molybdenum production at the Mt. Hope Project and on the one-year anniversary of production, for a total contribution obligation to the Sustainability Trust of $5.6 million, an increase of $1.6 million related to the terms of the Settlement. The amount has been accrued under mining properties, land, and water rights in the Company’s financial statements in addition to the previously accrued $4.0 million resulting in a total accrual of $5.6 million. The LLC has contributed $0.1 million into the Trust as of December 31, 2019. The Sustainability Trust is tasked with developing and implementing programs that will serve to slow groundwater drawdown and thereby improve the sustainability of the agricultural economy in the Diamond Valley Hydrographic Basin. Kobeh Valley Ranching Family At the execution of the settlement agreement, the LLC funded an initial payment of $1 million into a trust account; distribution to the Ranchers occurred when the water permits were issued on July 24, 2019. Upon receipt of the initial $1,000,000 into the trust account, the Ranchers withdrew their protests and forfeited any judicial review of Ruling 6464 and the water applications and issuance of the water permits issued on July 24, 2019 by the Nevada State Engineer. When conditions exist for the LLC to secure project financing, additional consideration of $14,000,000 will be payable to the Ranchers. If the LLC has not secured Mt. Hope Project financing within 12 months of the executed settlement agreement or April 2020, the LLC will begin to make monthly payments of $10,000 to the Ranchers until financing is achieved and the remaining consideration will be paid to the Ranchers. Pursuant to an April 29, 2019 Consent Agreement, the members of the LLC agreed that funding for the $1 million was advanced to the LLC by the Company, to preserve the joint venture’s existing reserve account. General Moly sourced $500,000 from its available cash, and received the remaining $500,000 from closing a sale of Series A Convertible Preferred Shares in a private placement with Mount Hope Mines Inc. (“MHMI”), the Mt. Hope Project’s claim/land lessor, discussed in Items 1 and 2 above and later in Note 7 to the consolidated financial statements contained elsewhere in this report. In exchange for General Moly advancing the $1,000,000 initial settlement funding, the LLC members have agreed to repay the $1 million advance from the proceeds of ongoing sales of non-critical LLC assets and lands. On September 27, 2019, the Company and POS-Minerals entered into a further Consent Agreement for a reimbursement schedule concerning the approximately $700,000 owed to the Company by the LLC in return for the Company’s advance of funding to settle protests related to the water right applications for the Mt. Hope Project. Under the September Consent Agreement, $200,000 was reimbursed from the Reserve Account to the Company on September 30, 2019 and an additional $200,000 was reimbursed in early November. The remaining approximately $300,000 was reimbursed in March 2020 upon the sale by the LLC of more than $400,000 in non-critical Mt. Hope Project related equipment. The Company and POS-Minerals agreed in the Consent Agreement that all funds received from the future sale of other assets owned by the LLC are owed to the Reserve Account until the March 31, 2020 balance of $0.7 million is repaid. Environmental Considerations Our former mineral property holdings in Shoshone County, Idaho included lands contained in mining districts that have been designated as a “Superfund Site” pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act. This “Superfund Site” was established to investigate and remediate primarily the Bunker Hill properties of Smelterville, Idaho, a small portion of Shoshone County where a large smelter was located. However, because of the extent of environmental impact caused by the historical mining in the mining district, the Superfund Site covers the majority of Shoshone County including our former Chicago-London and Little Pine Creek properties as well as many small towns located in Northern Idaho. We have conducted a property environmental investigation of these properties, which revealed no evidence of material adverse environmental effects at either property. We are unaware of any pending action or proceeding relating to any regulatory matters that would affect our financial position due to these inactive mining claims in Shoshone County. Our Chicago-London property was sold in January 2020 and Little Pine Creek in 2019.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 — SUBSEQUENT EVENTS On April 24, 2020, General Moly, Inc. (the “Company”) received funding under a Paycheck Protection Program (“PPP”) loan (the “PPP Loan”) from U.S. Bank, National Association (the “Lender”). The principal amount of the PPP Loan is $365,034. The PPP was established under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and is administered by the U.S. Small Business Administration (the “SBA”). The Company applied for the PPP Loan primarily because its potential to access other sources of capital has been greatly reduced by the ongoing COVID-19 pandemic. The PPP Loan has a two-year term, maturing on April 23, 2022. The interest rate on the PPP Loan is 1.0% per annum. Principal and interest are payable in 18 monthly installments, beginning on November 23, 2020, until maturity with respect to any portion of the PPP Loan which is not forgiven as described below. The Company did not provide any collateral or guarantees for the PPP Loan, nor did the Company pay any facility charge to obtain the PPP Loan. The PPP Loan provides for customary events of default, including, among others, those relating to failure to make payment, bankruptcy, breaches of representations and material adverse effects. The Company is permitted to prepay or partially prepay the PPP Loan at any time with no prepayment penalties. The PPP Loan may be partially or fully forgiven if the Company complies with the provisions of the CARES Act, including the use of PPP Loan proceeds for payroll costs, rent, utilities and other expenses, provided that such amounts are incurred during the eight-week period that commenced on April 24, 2020 and at least 75% of any forgiven amount has been used for covered payroll costs as defined by the CARES Act. Any forgiveness of the PPP Loan will be subject to approval by the SBA and the Lender and will require the Company to apply for such treatment in the future.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements

DESCRIPTION OF BUSINESS (Tables

DESCRIPTION OF BUSINESS (Tables)	3 Months Ended
	Mar. 31, 2020
DESCRIPTION OF BUSINESS
Schedule of cash commitments under milling equipment contracts	The following table sets forth the LLC’s remaining cash commitments under these equipment contracts (collectively, “Purchase Contracts”) at March 31, 2020 (in millions): As of March 31, Year 2020 * 2020 $ — 2021 0.6 Total $ 0.6 * All amounts are commitments of the LLC, and as a result of the agreement between Nevada Moly and POS-Minerals are to be funded by the reserve account, now $3.7 million, until such time that the Company obtains financing for its portion of construction costs at the Mt. Hope Project or until the reserve account balance is exhausted, and thereafter are to be funded 80% by Nevada Moly and 20% by POS-Minerals. POS-Minerals remains obligated to make capital contributions for its 20% portion of equipment payments required by approved budgets of the LLC, and such amounts contributed by the reserve account on behalf of POS-Minerals will reduce, dollar for dollar, the amount of capital contributions that the LLC is required to return to POS-Minerals.

MINING PROPERTIES, LAND AND W_2

MINING PROPERTIES, LAND AND WATER RIGHTS (Tables)	3 Months Ended
	Mar. 31, 2020
MINING PROPERTIES, LAND AND WATER RIGHTS
Summary of mining properties, land and water rights	The following is a summary of mining properties, land and water rights at March 31, 2020 and December 31, 2019 (in thousands): At At March 31, December 31, 2020 2019 Mt. Hope Project: Development costs $ $ Mineral, land and water rights Advance royalties Total Mt. Hope Project Total Liberty Project Other Properties Total $ $

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Mt. Hope Project and within the boundaries of the Plan of Operations ("PoO")
Property, plant and equipment
Asset retirement obligations for future mine closure and reclamation costs	(in thousands) At January 1, 2019 $ 1,633 Accretion Expense 108 Adjustments* 62 At December 31, 2019 $ 1,803 Accretion Expense 27 Adjustments* — At March 31, 2020 $ 1,830 *
Liberty Project
Property, plant and equipment
Asset retirement obligations for future mine closure and reclamation costs	Mt. Hope Project outside PoO boundary Liberty (in thousands) At January 1, 2019 $ 15 $ 121 Adjustments * 2 13 At December 31, 2019 $ 17 $ 134 Adjustments * — 20 At March 31, 2020 $ 17 $ 154 *

Current Debt (Tables)

Current Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Current Debt
Schedule of the inputs to the models that were used to value the embedded derivatives	March 31, 2020 December 31, 2019 Stock Price 0.16 $ 0.24 Exercise Price 0.50 0.50 Expected Term 7.8 years 7.8 years Stock Volatility 40.0 % 40.0 % Risk-Free Interest Rate 0.6 % 1.8 % Type of Event Expected Date Probability of Event Mandatory Redemption October 17, 2019 Conversion Option March 31, 2019 Note Reaches Maturity December 31, 2019

COMMON STOCK UNITS, COMMON ST_2

COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS (Tables)	3 Months Ended
	Mar. 31, 2020
COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS
Fair value, valuation technique, inputs	The following inputs to the model were used at March 31, 2020 and December 31, 2019: March 31, 2020 December 31, 2019 Stock Price 0.16 $ 0.24 Exercise Price 0.50 0.50 Expected Term 7.8 years 7.8 years Stock Volatility 40.0 % 40.0 % Risk-Free Interest Rate 0.6 % 1.8 % On December 27, 2019, the Company issued warrants to purchase 8,556,456 shares of common stock in connection with the exchange of its senior notes as discussed above at an exercise price of $0.35 with a three-year term. These warrants are equity-classified. The Company used a Black-Scholes model to determine the fair value of the warrants at the date of issuance using the following inputs to the model: December 27, 2019 Stock Price $ 0.23 Exercise Price $ 0.35 Expected Term 3.0 years Stock Volatility 40.0 % Risk-Free Interest Rate 1.6 %

EQUITY INCENTIVES (Tables)

EQUITY INCENTIVES (Tables)	3 Months Ended
	Mar. 31, 2020
EQUITY INCENTIVES
Schedule Of Share Based Compensation Activity	SARs Stock Awards Weighted Number Weighted Average of Shares Average Strike Under Grant Number of Price Option Price Shares Balance at January 1, 2019 $ 3.19 938,667 $ 1.18 2,401,268 Awards Granted — — 0.24 135,000 Awards Exercised or Earned — — 0.38 (2,115,000) Awards Forfeited — — — — Awards Expired 2.56 (28,830) — — Balance at December 31, 2019 $ 3.21 909,837 $ 4.90 421,268 Exercisable at December 31, 2019 $ 1.69 27,693 SARs Stock Awards Weighted Number Weighted Average of Shares Average Strike Under Grant Number of Price Option Price Shares Balance at January 1, 2020 $ 3.21 909,837 $ 4.90 421,268 Awards Granted — — 0.24 2,569,000 Awards Exercised or Earned — — 0.38 (369,000) Awards Forfeited — — — — Awards Expired — — — — Balance at March 31, 2020 $ 3.21 909,837 $ 0.99 2,621,268 Exercisable at March 31, 2020 $ 1.69 27,693
Schedule of Nonvested Share Activity	SARs Stock Awards Weighted Number Weighted Average of Shares Average Fair Under Fair Number of Value Option Value Shares Balance at January 1, 2019 $ 3.25 892,896 $ 1.44 1,735,553 Awards Granted — — 0.39 2,145,000 Awards Vested or Earned — — 0.30 (1,435,000) Awards Forfeited 1.15 (10,752) 1.46 (44,285) Balance at March 31, 2019 $ 3.26 882,144 $ 1.18 2,401,268 Weighted Number Weighted Average of Shares Average Fair Under Fair Number of Value Option Value Shares Balance at January 1, 2020 $ 3.26 882,144 $ 1.18 2,401,268 Awards Granted — — 0.24 135,000 Awards Vested or Earned — — 0.38 (2,115,000) Awards Forfeited — — — — Balance at March 31, 2020 $ 3.26 882,144 $ 4.90 421,268 Balance at December 31, 2020

CHANGES IN CONTINGENTLY REDEE_2

CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST (CRNCI) (Tables)	3 Months Ended
	Mar. 31, 2020
CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST (CRNCI)
Summary of changes in contingently redeemable noncontrolling interest and equity	Activity for Three Months Ended March 31, March 31, Changes CRNCI (Dollars in thousands) 2020 2019 Total CRNCI December 31, 2019 and 2018, respectively $ $ 172,261 Net Loss Attributable to CRNCI 75 (36) Total CRNCI March 31, 2020 and 2019, respectively $ $ 172,225 Activity for Three Months Ended March 31, March 31, Changes Redeemable Preferred Stock (Dollars in thousands) 2020 2019 Total Redeemable Preferred Stock December 31, 2019 and 2018, respectively $ 1,300 $ — Redeemable Preferred Stock Issued — 300 Preferred Stock Redeemed — — Total Redeemable Preferred Stock March 31, 2020 and 2019, respectively $ 1,300 $ 300

DESCRIPTION OF BUSINESS - Relat

DESCRIPTION OF BUSINESS - Related Parties (Details) $ in Millions	Jan. 01, 2015USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Jan. 31, 2015USD ($)	Mar. 31, 2020USD ($)factor	Dec. 31, 2019USD ($)	Feb. 29, 2008	Dec. 31, 2007
Description of business
Additional ownership granted if General Moly fails to return capital to POS Corp (as a percent)						5.00%
Mt. Hope Project
Description of business
Ownership interest in project (as a percent)									100.00%
Balance of reserve account						$ 3.7	$ 3.4
POS-Minerals Corporation
Description of business
Contributions made by EMLLC to its members					$ 0.7
Eureka Moly LLC
Description of business
Ownership interest (as a percent)								20.00%
Ownership interest (as a percent)								80.00%
Eureka Moly LLC
Description of business
Dilution formula factor | factor						1.5
Deemed capital contributions of both parties						$ 1,090.8
Eureka Moly LLC | POS-Minerals Corporation
Description of business
Return of contributions to POS Minerals which the LLC is required to make due to not achieving production						36
Capital contributions reduction limit						$ 33.6
Eureka Moly LLC | Eureka Moly LLC
Description of business
Ownership interest (as a percent)						80.00%
Nevada Moly LLC
Description of business
Contributions made by EMLLC to its members					$ 2.7
Nevada Moly LLC | POS-Minerals Corporation
Description of business
Remaining amount of capital contribution due to POS Minerals						$ 33.6
Reduction in obligation				$ 2.4		$ 2.4
Failure to use standard mining industry practice triggers put of ownership interest						12 months
Percentage of POS Mineral Cash Contributions puttable to Nevada Moly if specified conditions occur (as a percent)						120.00%
Interest per annum on total contributions which Nevada Moly is required to pay (as a percent)						10.00%
Obligation to fund return of capital by Nevada Moly to POS-Minerals	$ 36
Nevada Moly LLC | POS-Minerals Corporation | LIBOR
Description of business
Unpaid amount interest rate						LIBOR
Unpaid amount Libor floor (as a percent)						5.00%
Nevada Moly LLC | Milling equipment | POS-Minerals Corporation
Description of business
Remaining amount of capital contribution due to POS Minerals						$ 33.6
Percentage of reduction on principal payments				20.00%
Principal payment made for equipment		$ 1.2		$ 8.4
Nevada Moly LLC | Electrical transformer | POS-Minerals Corporation
Description of business
Principal payment made for equipment			$ 2.2

DESCRIPTION OF BUSINESS - Priva

DESCRIPTION OF BUSINESS - Private Placement (Details)

Dec. 09, 2019USD ($)

Aug. 05, 2019USD ($)$ / sharesshares

Aug. 02, 2019$ / sharesshares

Mar. 21, 2019USD ($)tranche$ / shares

Oct. 17, 2018USD ($)$ / shares

Dec. 31, 2014shares

Mar. 31, 2020USD ($)$ / sharesshares

Dec. 31, 2019USD ($)$ / sharesshares

Dec. 31, 2015shares

Mar. 12, 2020$ / shares

May 02, 2019USD ($)

Mar. 31, 2019USD ($)

Private Placement

Convertible share value

$ 1,300,000

$ 1,300,000

$ 300,000

Stock price (in dollars per share) | $ / shares

$ 0.25

Net proceeds

$ 1,900,000

Convertible Notes

Private Placement

Convertible share value

$ 400,000

Convertible share par value (in dollars per share) | $ / shares

$ 0.001

Conversion of shares (in shares) | shares

2,625,000

Debt instrument interest rate (as a percent)

10.00%

Convertible notes issued

$ 7,200,000

Series B Preferred Stock

Private Placement

Stock price (in dollars per share) | $ / shares

$ 100

Number of common stock shares offered per convertible preferred share | shares

500

Dividends Payable Current And Noncurrent Percentage

5.00%

Annual dividend (as a percent)

5.00%

Series B Preferred Stock | Convertible Notes

Private Placement

Stock price (in dollars per share) | $ / shares

$ 100

Conversion of shares (in shares) | shares

500

Dividends Payable Current And Noncurrent Percentage

5.00%

Annual dividend (as a percent)

5.00%

Minimum

Private Placement

Stock price (in dollars per share) | $ / shares

$ 0.06

Maximum | Convertible Notes

Private Placement

Conversion of shares (in shares) | shares

8,535,000

Private Placement

Private Placement

Convertible share value

$ 900,000

Convertible share par value (in dollars per share) | $ / shares

$ 0.001

Number of tranche investment | tranche

3

Maximum value issuable per closing

$ 300,000

Debt instrument interest rate (as a percent)

5.00%

Convertible notes issued

$ 1,300,000

Net proceeds

$ 4,000,000

Private Placement | Series A Preferred Stock

Private Placement

Number of shares converted | shares

1

1

Stock price (in dollars per share) | $ / shares

$ 100

$ 100

Preferred share conversion (in dollars per share) | $ / shares

$ 0.27

Conversion of shares (in shares) | shares

370.37

370.37

Mt. Hope Project | Private Placement

Private Placement

Convertible share value

$ 500,000

DESCRIPTION OF BUSINESS - Restr

DESCRIPTION OF BUSINESS - Restructuring Costs and Reserves (Details)

May 05, 2020USD ($)

Dec. 09, 2019USD ($)

Sep. 30, 2019USD ($)

Jul. 24, 2019USD ($)

Oct. 17, 2018USD ($)shares

Oct. 16, 2017USD ($)tranche

Apr. 12, 2017USD ($)

Nov. 02, 2015USD ($)tranche

Mar. 31, 2020USD ($)

Nov. 30, 2019USD ($)

Oct. 31, 2018USD ($)shares

Mar. 31, 2020USD ($)

Mar. 31, 2020USD ($)shares

Sep. 27, 2019USD ($)

Class of Stock [Line Items]

Net proceeds

$ 1,900,000

Number of units issued during the period | shares

9,151,000

AMER International Group

Class of Stock [Line Items]

Private Placement

$ 4,000,000

Number of tranche investment | tranche

3

Ranchers

Class of Stock [Line Items]

Source from available cash

$ 500,000

Proceeds from private placement used

500,000

First Tranche | AMER International Group

Class of Stock [Line Items]

Private Placement

$ 4,000,000

Second Tranche | AMER International Group

Class of Stock [Line Items]

Private Placement

$ 6,000,000

Number of tranche investment | tranche

3

Third Tranche | AMER International Group

Class of Stock [Line Items]

Private Placement

$ 10,000,000

$ 5,000,000

ATM

Class of Stock [Line Items]

Issue of shares | shares

1,168,300

Net proceeds

$ 1,900,000

$ 500,000

Number of units issued during the period | shares

9,125,000

Number of shares of common stock in each unit issued | shares

1

Number of warrants in each unit issued | shares

1

Number of shares each unit may purchase | shares

1

Period of time the ATM is suspended (in years)

2 years

ATM | Maximum

Class of Stock [Line Items]

Net proceeds

$ 20,000,000

$ 20,000,000

Eureka Moly LLC | Ranchers

Class of Stock [Line Items]

Payment to trust

$ 1,000,000

Eureka Moly LLC | Land and Water Rights

Class of Stock [Line Items]

Amount owed to the company

$ 700,000

Reimbursement of debt

$ 200,000

$ 300,000

$ 200,000

Eureka Moly LLC | Equipment | Minimum

Class of Stock [Line Items]

Sale of equipment

$ 400,000

DESCRIPTION OF BUSINESS - Agree

DESCRIPTION OF BUSINESS - Agreement in Principle (Details) - USD ($)	Dec. 26, 2019	Dec. 31, 2019	Mar. 31, 2020
Minimum
Debt Instrument
Warrant exercise price			$ 0.35
Maximum
Debt Instrument
Warrant exercise price			$ 5
Senior Notes
Debt Instrument
Face amount		$ 5,000,000
Senior Notes | Warrants | Majority debt holders of senior notes and CEO Bruce Hansen
Debt Instrument
Debt instrument interest rate (as a percent)	13.00%
Original principal amount exchanged (as a percent)	20.00%
Long-term debt	$ 1,300,000
Repayment of warrants	$ 368,000
warrants not exchanged	5.00%
Non-Convertible Senior Promissory Notes
Debt Instrument
Warrants and rights outstanding term		3 years
Non-Convertible Senior Promissory Notes | Minimum
Debt Instrument
Debt instrument interest rate (as a percent)		12.00%
Non-Convertible Senior Promissory Notes | Maximum
Debt Instrument
Debt instrument interest rate (as a percent)		14.00%
Non-Convertible Senior Promissory Notes | Warrants
Debt Instrument
Warrant exercise price		$ 0.35
Repayment of warrants		$ 400,000

DESCRIPTION OF BUSINESS - Capit

DESCRIPTION OF BUSINESS - Capital Requirements and Restructuring (Details) $ / shares in Units, £ in Millions

Dec. 09, 2019GBP (£)

Dec. 09, 2019USD ($)$ / shares

Dec. 06, 2019$ / sharesshares

Oct. 14, 2019USD ($)

Aug. 28, 2019

Jul. 29, 2019

Mar. 21, 2019tranche

Oct. 16, 2017USD ($)tranche$ / sharesshares

Nov. 02, 2015USD ($)tranche$ / sharesshares

Apr. 17, 2015USD ($)$ / sharesshares

Mar. 31, 2020USD ($)$ / sharesshares

Dec. 31, 2019shares

CAPITAL REQUIREMENTS AND RESTRUCTURING

Common stock issued | shares

152,685,255

152,033,515

Amount committed to be purchased

$ 600,000

Number of days in which the transaction must be closed

2 days

AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Warrants to purchase common shares | shares

12,000,000

Number of days considered for VWAP

30 days

Number of tranche investment | tranche

3

Private Placement

$ 4,000,000

Private placement (in shares) | shares

1,100,000

10,000,000

Purchase price per share acquired (in dollars per share) | $ / shares

$ 0.40

$ 0.27

Denomination of amount borrowed

$ 100,000,000

Initial term of mine production

5 years

5 years

Class II director term on Board of Directors

3 years

Expense reimbursement from reserve for potential opportunities

$ 2,500,000

Private Placement

CAPITAL REQUIREMENTS AND RESTRUCTURING

Number of tranche investment | tranche

3

Purchase price per share acquired (in dollars per share) | $ / shares

$ 0.40

Face amount

1,300,000

Private Placement | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Shares agreed to purchase as per agreement | shares

40,000,000

Warrants to purchase common shares | shares

80,000,000

80,000,000

Warrant exercise price | $ / shares

$ 0.50

Number of days considered for VWAP

90 days

Volume weighted average price per share | $ / shares

$ 0.50

First Tranche | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Private Placement

$ 4,000,000

Common stock issued | shares

13,300,000

Purchase price per share acquired (in dollars per share) | $ / shares

$ 0.30

Second Tranche | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Shares agreed to purchase as per agreement | shares

14,600,000

Number of days considered for VWAP

30 days

Number of tranche investment | tranche

3

Private Placement

$ 6,000,000

Purchase price per share acquired (in dollars per share) | $ / shares

$ 0.41

Funds allocated from private placement of shares for general corporate purposes

$ 5,500,000

Funds allocated from private placement for expense reimbursement

$ 500,000

Third Tranche | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Private Placement

$ 10,000,000

$ 5,000,000

Common stock issued | shares

20,000,000

Purchase price per share acquired (in dollars per share) | $ / shares

$ 0.50

Shares involved in closing of joint business | shares

10,000,000

Warrants. | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Warrant exercise price | $ / shares

$ 0.50

Minimum

CAPITAL REQUIREMENTS AND RESTRUCTURING

Warrant exercise price | $ / shares

$ 0.35

Minimum | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Expected saleable amount | £

£ 3

Maximum

CAPITAL REQUIREMENTS AND RESTRUCTURING

Warrant exercise price | $ / shares

$ 5

Maximum | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Expected saleable amount | £

£ 20

Mt. Hope Project | Senior secured term loan | AMER International Group

CAPITAL REQUIREMENTS AND RESTRUCTURING

Face amount

$ 700,000,000

$ 700,000,000

Investment Securities Purchase Agreement

CAPITAL REQUIREMENTS AND RESTRUCTURING

Dispute resolution period

10 days

AMER Extension Agreement | Settled litigation

CAPITAL REQUIREMENTS AND RESTRUCTURING

Proceeds from legal settlements

$ 300,000

Period considered for calculating weighted average share price

30 days

DESCRIPTION OF BUSINESS - Cash

DESCRIPTION OF BUSINESS - Cash Commitments (Details) $ in Millions	Mar. 31, 2020USD ($)
Cash commitments under equipment contracts
2021	$ 0.6
Total	$ 0.6
Purchase Commitment | Mining and milling equipment | POS-Minerals Corporation
Cash commitments under equipment contracts
Percentage of commitments funded	20.00%
Purchase Commitment | Mining and milling equipment | Nevada Moly LLC
Cash commitments under equipment contracts
Percentage of commitments funded	80.00%

DESCRIPTION OF BUSINESS - Purch

DESCRIPTION OF BUSINESS - Purchase Commitment excluding Long-term Commitment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 09, 2019	Apr. 17, 2015
Cash commitments
Amount committed to be purchased	$ 600
Restricted cash held at EMLLC	3,684	$ 3,388
Purchase Commitment | Mining and milling equipment | Eureka Moly LLC
Cash commitments
Aggregate amount of equipment orders	88,000
Amount of equipment orders relate to fully fabricated items	71,700
Amount of equipment orders relate to partially fabricated milling equipment, and non-refundable deposits on mining equipment	16,300
Mt. Hope Project
Cash commitments
Balance of reserve account	3,700	3,400
Restricted cash held at EMLLC	3,700	$ 3,400
Mt. Hope Project | Eureka Moly LLC
Cash commitments
Aggregate amount of equipment orders	$ 88,000
Senior secured term loan | Mt. Hope Project | AMER International Group
Cash commitments
Face amount			$ 700,000	$ 700,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting Method (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Feb. 29, 2008
Significant Accounting Policy disclosures
Noncontrolling ownership net loss	$ (75,000)	$ 36,000
Eureka Moly LLC
Significant Accounting Policy disclosures
Noncontrolling ownership net loss	374,000
Gain (loss) on contract termination attributable to CRNCI	$ 75,000
Eureka Moly LLC
Significant Accounting Policy disclosures
Ownership interest (as a percent)			80.00%
Noncontrolling Interest, Ownership Percentage by Parent			80.00%
Ownership interest (as a percent)			20.00%
Eureka Moly LLC | Eureka Moly LLC
Significant Accounting Policy disclosures
Noncontrolling Interest, Ownership Percentage by Parent	80.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Contingently Redeemable Noncontrolling Interest ("CRNCI") (Details) - Nevada Moly LLC - POS-Minerals Corporation - USD ($) $ in Millions	1 Months Ended			3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Mar. 31, 2015	Mar. 31, 2020
Consecutive months failure to follow standard mining practices				12 months
Remaining amount of capital contribution due to POS Minerals				$ 33.6
Reduction in obligation			$ 2.4	2.4
Milling equipment
Remaining amount of capital contribution due to POS Minerals				$ 33.6
Percentage of reduction on principal payments			20.00%
Principal payment made for equipment	$ 1.2		$ 8.4
Electrical transformer
Principal payment made for equipment		$ 2.2

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2015	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Cash and cash equivalents		$ 3,055	$ 4,614
Restricted cash held at EMLLC		3,684	3,388
Total cash, cash equivalents and restricted cash shown in the statement of cash flows		6,739	8,002	$ 7,265	$ 8,617
Cash deposits		708	708
POS-Minerals Corporation
Contributions made by EMLLC to its members	$ 700
Mt. Hope Project
Restricted cash held at EMLLC		3,700	3,400
Cash deposits		600
Initial Fund From Members Reserve Account Balance		3,700	$ 3,400
Liberty Project
Cash deposits		100
Eureka Moly LLC
Cash deposits		$ 300
Nevada Moly LLC
Contributions made by EMLLC to its members	$ 2,700

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basic and Diluted Net Loss Per Share (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Warrants
Basic and Diluted Net Loss Per Share
Shares not included in computation of diluted loss per share because they are anti-dilutive	98,013,256	98,013,256
Unvested Stock Awards
Basic and Diluted Net Loss Per Share
Shares not included in computation of diluted loss per share because they are anti-dilutive	2,621,268	421,268
Stock Appreciation Rights
Basic and Diluted Net Loss Per Share
Shares not included in computation of diluted loss per share because they are anti-dilutive	909,837	909,837

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-based Compensation (Details)	3 Months Ended
	Mar. 31, 2020
Stock-based Compensation
Expiration period from date of vesting	5 years
Maximum
Stock-based Compensation
Vesting period	3 years

MINING PROPERTIES, LAND AND W_3

MINING PROPERTIES, LAND AND WATER RIGHTS (Details)	Oct. 17, 2018USD ($)	Dec. 31, 2019USD ($)	Aug. 31, 2018ft	Feb. 28, 2018ft	Feb. 28, 2017USD ($)	Mar. 31, 2020USD ($)propertyitem$ / item	Dec. 31, 2005item
Mining properties
Number of mining properties | item						2
Common shares issued	$ 1,900,000
Mining properties, land and water rights
Mining properties, land and water rights		$ 244,137,000				$ 244,845,000
Deposits on project property, plant and equipment		87,972,000				$ 87,972,000
Mt. Hope Project
Mining properties
Molybdenum price (in dollars per pound) | $ / item						8.40
Backward average price						3 years
Ownership interest (as a percent)						20.00%
Depth of the recommended 10-hold drilling for confirmation and exploration program | ft			9,400
Mt. Hope Project | Minimum
Mining properties
Depth of high chargeability anomalies | ft				100
Mt. Hope Project | Maximum
Mining properties
Depth of high chargeability anomalies | ft				1,000
Lease Agreement with WK Mining Ltd
Mining properties
Term of lease					6 years
Extended lease term					4 years
Common shares issued					$ 124,000
Initial payment fees					100,000
Annual fees of first installment					$ 12,000
Lease Agreement with SR Minerals, Inc.
Mining properties
Initial payment fees		16,000
Chicago London Group Property
Mining properties
Number of patented mining claims acquired | item							6
Detroit Property
Mining properties
Number of unpatented mining claims acquired | item							34
Skamania and Josephine Property
Mining properties
Mineral, land and water rights						$ 100,000
Production royalties percentage						1.50%
Number of undeveloped properties | property						2
Land and Water Rights
Mining properties, land and water rights
Mining properties, land and water rights		244,137,000				$ 244,845,000
Land and Water Rights | Mt. Hope Project
Mining properties
Development costs		179,356,000				179,672,000
Mineral, land and water rights		23,423,000				23,396,000
Advance Royalties		32,988,000				33,488,000
Mining properties, land and water rights
Mining properties, land and water rights		235,767,000				236,556,000
Land and Water Rights | Liberty Project
Mining properties, land and water rights
Mining properties, land and water rights		8,370,000				8,289,000
Land and Water Rights | Other Properties
Mining properties, land and water rights
Mining properties, land and water rights		$ 0				0
Mining properties, land and water rights. | Mt. Hope Project
Mining properties, land and water rights
Deposits on project property, plant and equipment						$ 88,000,000

ASSET RETIREMENT OBLIGATIONS -

ASSET RETIREMENT OBLIGATIONS - Future mine closure and reclamation costs (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Mt. Hope Project and within the boundaries of the Plan of Operations ("PoO")
Asset retirement obligations disclosures
Asset retirement obligation, beginning balance	$ 1,803	$ 1,633
Accretion Expense	27	108
Adjustments		62
Asset retirement obligation, ending balance	1,830	1,803
Mt. Hope Project outside PoO boundary
Asset retirement obligations disclosures
Asset retirement obligation, beginning balance	17	15
Adjustments		2
Asset retirement obligation, ending balance	17	17
Liberty Project
Asset retirement obligations disclosures
Asset retirement obligation, beginning balance	134	121
Adjustments	20	13
Asset retirement obligation, ending balance	$ 154	$ 134

ASSET RETIREMENT OBLIGATIONS _2

ASSET RETIREMENT OBLIGATIONS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Asset retirement obligations disclosures
Cash deposits	$ 708	$ 708
Mt. Hope Project
Asset retirement obligations disclosures
Cash deposits	600
Mt. Hope Project and within the boundaries of the Plan of Operations ("PoO")
Asset retirement obligations disclosures
Total inflated and undiscounted reclamation costs	5,800
Mitigation of sage grouse habitat	2,600
Mt. Hope Project outside PoO boundary
Asset retirement obligations disclosures
Total inflated and undiscounted reclamation costs	200
Liberty Project
Asset retirement obligations disclosures
Cash deposits	$ 100
Mining properties, land and water rights. | Mt. Hope Project
Asset retirement obligations disclosures
Future reclamation costs discount rate (as a percent)	8.00%
Mining properties, land and water rights. | Mt. Hope Project | Financial guarantee
Asset retirement obligations disclosures
Update to reclamation bond calculation (in years)	3 years
Reclamation financial guarantees	$ 2,800
Cash deposits	300
Additional in long term funding mechanism	$ 300

Current Debt - Convertible Debt

Current Debt - Convertible Debt (Details)	Dec. 27, 2019USD ($)item$ / sharesshares	Dec. 31, 2014USD ($)Dinstrument$ / sharesshares	Mar. 31, 2020USD ($)security$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2019$ / shares	Dec. 09, 2019shares	Jun. 30, 2015$ / shares
Convertible Debt
Common stock, par value (in dollars per share) | $ / shares			$ 0.001		$ 0.001		$ 0.001
Warrants issued | shares			98,013,256
Maximum
Convertible Debt
Warrant exercise price | $ / shares			$ 5
Minimum
Convertible Debt
Warrant exercise price | $ / shares			0.35
Warrants
Convertible Debt
Additional paid in capital recorded		$ 800,000
Reduction to additional paid in capital		100,000
Warrants exercisable for each common stock | shares	8,556,456					80,000,000
Warrant exercise price | $ / shares	$ 0.35		$ 0.50		$ 0.50
Exchange Warrants
Convertible Debt
Fair value of notes	$ 300,000
10% Senior Promissory Notes due December 26, 2019
Convertible Debt
Gains (Losses) on Extinguishment of Debt	100,000
12% Senior Promissory Notes due December 26, 2022
Convertible Debt
Convertible notes issued	6,890,000
Outstanding amount	7,250,000
Fair value of notes	6,800,000
Deferred finance costs	200,000
Reduction to additional paid in capital	$ 8,000
Debt instrument interest rate (as a percent)	12.00%
U.S. Treasury securities Floor (as a percent)	0.25%
Threshold amount of proceeds from financing for redeeming exchange notes	$ 6,300,000
Percentage of proceeds from the sale of assets held for repay debt	50.00%
Debt instrument repurchase price percentage	101.00%
Number of units issued | item	1
Percentage of outstanding notes in exchange offer	95.00%
Denomination for conversion of notes	$ 1
Number of warrants settled | item	1
Warrants exercisable for each common stock | shares	1
Warrant exercise price | $ / shares	$ 0.35
Warrant exercise term	3 years
Warrants issued | shares	7,200,000
Payment of principal and interest	$ 368,000
Percentage of principal paid on outstanding amount	5.00%
New 13% Senior Promissory Notes due December 2022
Convertible Debt
Number of units issued | shares	13,355
Additional paid in capital recorded	$ 47,000
Discounts and offering expenses	40,000
Deferred finance costs	38,000
Reduction to additional paid in capital	$ 2,000
Debt instrument interest rate (as a percent)	13.00%
U.S. Treasury securities Floor (as a percent)	0.25%
Debt instrument repurchase price percentage	101.00%
Denomination for conversion of notes	$ 100
Warrants exercisable for each common stock | shares	1
Warrant exercise price | $ / shares	$ 0.35
Warrant exercise term	3 years
Percentage of increase in investment of notes	20.00%
Value of new notes	$ 1,340,000
New 13% Senior Promissory Notes due December 2022 | Maximum
Convertible Debt
Convertible notes issued	$ 15,000,000
Convertible Notes
Convertible Debt
Convertible notes issued			$ 7,200,000
Net proceeds from the sale of the Notes		8,000,000
Discounts and offering expenses		500,000
Deferred finance costs		$ 400,000
Debt instrument interest rate (as a percent)		10.00%
Percentage of convertible amount on outstanding amount		95
U.S. Treasury securities Floor (as a percent)		0.25%
Percentage of proceeds from the sale of assets held for repay debt		50.00%
Amount held for repay debt		$ 250,000
Percentage of convertible debt average VWAP		80.00%
Number of business days considered for calculating average VWAP | D		30
Conversion of shares (in shares) | shares				2,625,000
Percentage of convertible shares on outstanding shares		9.30%
Debt instrument repurchase price percentage		100.00%
Aggregate principal amount				$ 2,600,000
Remaining amount of notes available for conversion				5,900,000
Annual reduction in interest payments				$ 200,000
Number of embedded derivatives | security			1
Convertible notes		$ 7,700,000
Convertible Notes | Maximum
Convertible Debt
Conversion ratio (in shares)		100
Conversion of shares (in shares) | shares		8,535,000
Convertible share price (in dollars per share) | $ / shares				$ 0.5485
Convertible Notes | Minimum
Convertible Debt
Convertible share price (in dollars per share) | $ / shares		$ 0.32		$ 0.3462
Convertible Notes | Warrants
Convertible Debt
Number of units issued | shares		85,350
Number of units issued to related parties | shares		23,750
Convertible notes issued		$ 8,500,000
Number of instruments used as a basis for the fair value of a transaction | instrument		2
Warrant exercise price | $ / shares			$ 5
Non-convertible Promissory Note
Convertible Debt
Debt instrument interest rate (as a percent)				10.00%
Senior Promissory Notes issued				$ 1,300,000

Current Debt - Embedded Derivat

Current Debt - Embedded Derivatives (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Mar. 12, 2020$ / shares	Oct. 17, 2018$ / shares
Embedded derivatives
Carrying value of Notes	$ 6,300,000
Stock price (in dollars per share) | $ / shares				$ 0.25
Minimum
Embedded derivatives
Stock price (in dollars per share) | $ / shares			$ 0.06
Embedded derivatives
Embedded derivatives
Stock price (in dollars per share) | $ / shares	$ 0.16	$ 0.24
Fair Value Inputs Mandatory Redemption	10.00%
Fair Value Inputs Conversion Option		0.00%
Fair Value Inputs Note Maturity	90.00%
Embedded derivatives | Exercise Price
Embedded derivatives
Embedded derivative measurement input | $ / shares	0.50	0.50
Embedded derivatives | Expected Term
Embedded derivatives
Embedded derivative measurement input	7.8	7.8
Embedded derivatives | Stock Volatility
Embedded derivatives
Embedded derivative measurement input	0.40	0.40
Embedded derivatives | Risk-Free Interest Rate
Embedded derivatives
Embedded derivative measurement input	0.006	0.018
Convertible Notes
Embedded derivatives
Carrying value of Notes		$ 6,200,000
Unamortized debt discount	$ 1,000,000	1,100,000
Fair value of notes payable	5,800,000	6,200,000
Convertible Notes | Embedded derivatives
Embedded derivatives
Fair value of embedded derivatives	1,000,000	600,000
Net gain on changes in fair value of embedded derivatives		14,150
Non-convertible Promissory Note
Embedded derivatives
Carrying value of Notes	1,200,000	1,200,000
Unamortized debt discount	200,000	200,000
Fair value of notes payable	1,100,000	1,200,000
Non-convertible Promissory Note | Embedded derivatives
Embedded derivatives
Fair value of embedded derivatives	$ 200,000	$ 100,000

COMMON STOCK UNITS, COMMON ST_3

COMMON STOCK UNITS, COMMON STOCK AND COMMON STOCK WARRANTS (Details)	May 05, 2020USD ($)	Dec. 09, 2019USD ($)$ / sharesshares	Oct. 17, 2018USD ($)$ / sharesshares	Apr. 12, 2017USD ($)	Nov. 02, 2015$ / sharesshares	Jun. 30, 2015Vote$ / sharesshares	Apr. 17, 2015shares	Oct. 31, 2018USD ($)shares	Dec. 31, 2014shares	Mar. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2015shares	Mar. 31, 2020USD ($)$ / sharesshares	Mar. 12, 2020$ / shares	Dec. 27, 2019$ / sharesshares	Dec. 06, 2019$ / shares
Shares issued, stock awards (in shares) | shares										369,000	1,544,926
Number of units issued during the period | shares			9,151,000
Net proceeds | $			$ 1,900,000
Number of common stock shares offered per unit in underwritten public offering | shares			1
Number of warrants offered per unit in underwritten public offering. | shares			1
Number of common shares warrant holders may purchase | shares			1
Other income | $										$ 752,000
Exercise price of warrants exercised for cash (in dollars per share)			$ 0.35
Number of Shares Under Warrants
Warrants outstanding | shares										98,013,256			98,013,256
Exercise Price
Shares authorized (in shares) | shares						650,000,000				650,000,000	650,000,000		650,000,000
Par or stated value of common stock (in dollars per share)						$ 0.001				$ 0.001	$ 0.001		$ 0.001
Number of votes per share | Vote						1
Ownership percentage required to control board of directors (as a percent)						50.00%
Stock price (in dollars per share)			$ 0.25
Convertible Notes
Conversion of shares (in shares) | shares												2,625,000
Warrants
Purchase price per share acquired (in dollars per share)		$ 0.50													$ 0.35
Fair value of warrants issued | $										$ 400,000	$ 1,100,000		$ 400,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares		80,000,000													8,556,456
Exercise Price
Exercise price per share										$ 0.50	$ 0.50		$ 0.50		$ 0.35
Expiration term										1 year
Stock price (in dollars per share)										$ 0.16	0.24		0.16		0.23
Warrant exercise price										$ 0.50	$ 0.50		$ 0.50		$ 0.35
Warrants and rights outstanding term										7 years 9 months 18 days	7 years 9 months 18 days		7 years 9 months 18 days		3 years
Warrants | Stock Volatility
Exercise Price
Warrants and Rights Outstanding, Measurement Input										40	40		40		40
Warrants | Risk-Free Interest Rate
Exercise Price
Warrants and Rights Outstanding, Measurement Input										0.6	1.8		0.6		1.6
Warrants | Convertible Notes
Number of warrants issued in private placement of its senior convertible notes | shares										1,000,000
Exercise Price
Exercise price per share										$ 5			$ 5
Warrant exercise price										$ 5			5
Warrants. | Convertible Notes
Number of warrants issued in private placement of its senior convertible notes | shares										8,600,000
Exercise Price
Stock price (in dollars per share)										$ 0.35			$ 0.35
ATM
Number of units issued during the period | shares								9,125,000
Net proceeds | $								$ 1,900,000					$ 500,000
Issue of shares | shares													1,168,300
Period of time the ATM is suspended (in years)								2 years
Private Placement
Net proceeds | $		$ 4,000,000
Purchase price per share acquired (in dollars per share)		$ 0.40
AMER International Group
Purchase price per share acquired (in dollars per share)		$ 0.40														$ 0.27
Denomination of amount borrowed | $		$ 100,000,000
Warrants to purchase common shares | shares										12,000,000
Fair value of warrants issued | $										$ 100,000,000			$ 100,000,000
AMER International Group | Warrants
Number of warrants issued in private placement of its senior convertible notes | shares										80,000,000
AMER International Group | Warrants.
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares					80,000,000
Exercise Price
Exercise price per share					$ 0.50
Warrant exercise price					$ 0.50
AMER International Group | Private Placement
Warrants to purchase common shares | shares					80,000,000		80,000,000
Exercise Price
Exercise price per share					$ 0.50
Warrant exercise price					$ 0.50
Minimum
Exercise Price
Exercise price per share										$ 0.35			$ 0.35
Stock price (in dollars per share)														$ 0.06
Warrant exercise price										0.35			0.35
Maximum
Exercise Price
Exercise price per share										5			5
Warrant exercise price										$ 5			$ 5
Maximum | Convertible Notes
Conversion of shares (in shares) | shares									8,535,000
Maximum | ATM
Net proceeds | $	$ 20,000,000			$ 20,000,000
Bruce D. Hansen
Net proceeds | $			$ 500,000

REDEEMABLE PREFERRED STOCK (Det

REDEEMABLE PREFERRED STOCK (Details) - USD ($)

Dec. 09, 2019

Aug. 05, 2019

Aug. 02, 2019

May 29, 2019

Nov. 02, 2015

Dec. 31, 2014

Mar. 31, 2020

Dec. 31, 2019

Mar. 31, 2019

Dec. 31, 2019

Dec. 31, 2015

Mar. 12, 2020

Oct. 17, 2018

Preferred Stock

Preferred shares, authorized (in shares)

10,000,000

Redeemable Preferred Stock Issued

$ 300,000

Share Price

$ 0.25

Preferred shares, par value (in dollars per share)

$ 0.001

Minimum

Preferred Stock

Share Price

$ 0.06

Private Placement

Preferred Stock

Convertible notes issued

$ 1,300,000

Series A Preferred Stock

Preferred Stock

Preferred shares, authorized (in shares)

55,000

Cumulative cash or in-kind dividends

5.00%

Series A Preferred Stock | Private Placement

Preferred Stock

Number of shares issued

14,000

Number of shares assigned during the period

4,500

Number of shares retained during the period

500

Share Price

$ 100

$ 100

$ 100

Number of shares converted

1

1

Preferred share conversion (in dollars per share)

$ 0.27

Conversion of shares (in shares)

370.37

370.37

Series A Preferred Stock | Mt. Hope Project | Private Placement

Preferred Stock

Number of shares issued

5,000

Series B Preferred Stock

Preferred Stock

Preferred shares, authorized (in shares)

5,000

5,000

Redeemable Preferred Stock Issued

$ 400,000

Share Price

$ 100

Number of common stock shares offered per convertible preferred share

500

Annual dividend (as a percent)

5.00%

AMER International Group

Preferred Stock

Private Placement

$ 4,000,000

AMER International Group | Third Tranche

Preferred Stock

Private Placement

$ 10,000,000

$ 5,000,000

Conversion of shares (in shares)

1,851,844

Convertible Notes

Preferred Stock

Conversion of shares (in shares)

2,625,000

Convertible notes issued

$ 7,200,000

Convertible Notes | Maximum

Preferred Stock

Conversion of shares (in shares)

8,535,000

Convertible Notes | Series B Preferred Stock

Preferred Stock

Share Price

$ 100

Conversion of shares (in shares)

500

Annual dividend (as a percent)

5.00%

EQUITY INCENTIVES - Stock Optio

EQUITY INCENTIVES - Stock Options and Stock Appreciation Rights (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended
	Jun. 30, 2019	Jun. 30, 2016	May 31, 2010	Mar. 31, 2020
Equity incentives
Increase in number of shares authorized	6,500,000	5,000,000	4,500,000
Authorized shares	21,100,000	14,600,000	9,600,000
Shares available for issuance				7,855,920
Total unrecognized compensation cost related to share-based compensation arrangements				$ 400
Expected weighted-average recognition period in years				1 year 4 months 24 days
Contractual term				5 years
Maximum
Equity incentives
Vesting period				3 years
Stock Options and Stock Appreciation Rights
Equity incentives
Contractual term				5 years
Aggregate intrinsic value of outstanding and exercisable				$ 0
Weighted average remaining contractual term of outstanding and exercisable				1 year 1 month 6 days
Number of options or SARs exercised (in shares)				0
Stock Options and Stock Appreciation Rights | Minimum
Equity incentives
Vesting period				0 years
Stock Options and Stock Appreciation Rights | Maximum
Equity incentives
Vesting period				3 years

EQUITY INCENTIVES - Summary of

EQUITY INCENTIVES - Summary of Equity Incentive Awards Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Stock Appreciation Rights
Awards - SARs and Stock Awards - Weighted Average Strike or Grant Price
Beginning balance (in dollars per share)	$ 3.21	$ 3.19	$ 3.19
Forfeited (in dollars per share)		$ 1.15
Expired (in dollars per share)			2.56
Ending balance (in dollars per share)	3.21		3.21
Weighted Average Price, Exercisable (in dollars per share)	$ 1.69		$ 1.69
Awards - SARs and Stock Awards - Number of Shares Under Option or Number of Shares
Beginning Balance (in shares)	909,837	938,667	938,667
Expired (in shares)			(28,830)
Ending Balance (in shares)	909,837		909,837
Exercisable (in shares)	27,693		27,693
Unvested Stock Awards
Equity incentives
Fair value of Stock Awards vested	$ 0.1
Awards - SARs and Stock Awards - Weighted Average Strike or Grant Price
Beginning balance (in dollars per share)	$ 4.90	$ 1.18	$ 1.18
Granted (in dollars per share)	0.24	0.39	0.24
Exercised or Earned (in dollars per share)	0.38		0.38
Forfeited (in dollars per share)		$ 1.46
Ending balance (in dollars per share)	$ 0.99		$ 4.90
Awards - SARs and Stock Awards - Number of Shares Under Option or Number of Shares
Beginning Balance (in shares)	421,268	2,401,268	2,401,268
Granted (in shares)	2,569,000		135,000
Exercised or Earned (in shares)	(369,000)		(2,115,000)
Ending Balance (in shares)	2,621,268		421,268

EQUITY INCENTIVES - Restricted

EQUITY INCENTIVES - Restricted Stock Units and Stock Awards Activity, Non-vested Awards (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Stock Appreciation Rights
Non-vested Awards - SARs and Stock Awards - Weighted Average Fair Value
Beginning balance (in dollars per share)	$ 3.26	$ 3.25	$ 3.25
Forfeited (in dollars per share)		1.15
Ending balance (in dollars per share)	$ 3.26	$ 3.26	$ 3.26
Non-vested Awards - SARs and Stock Awards - Number of Shares Under Option or Number of Shares
Beginning Balance (in shares)	882,144	892,896	892,896
Forfeited (in shares)		(10,752)
Ending Balance (in shares)	882,144	882,144	882,144
Unvested Stock Awards
Non-vested Awards - SARs and Stock Awards - Weighted Average Fair Value
Beginning balance (in dollars per share)	$ 1.18	$ 1.44	$ 1.44
Granted (in dollars per share)	0.24	0.39	0.24
Vested or Earned (in dollars per share)	0.38	0.30
Forfeited (in dollars per share)		1.46
Ending balance (in dollars per share)	$ 4.90	$ 1.18	$ 1.18
Non-vested Awards - SARs and Stock Awards - Number of Shares Under Option or Number of Shares
Beginning Balance (in shares)	2,401,268	1,735,553	1,735,553
Granted (in shares)	135,000	2,145,000
Vested or Earned (in shares)	(2,115,000)	(1,435,000)
Forfeited (in shares)		(44,285)
Ending Balance (in shares)	421,268	2,401,268	2,401,268

CHANGES IN CONTINGENTLY REDEE_3

CHANGES IN CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST (CRNCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Changes in CRNCI
Total CRNCI, Beginning balance	$ 172,239	$ 172,261
Less: Net Loss Attributable to CRNCI	75	(36)
Redeemable Preferred Stock Issued		300
Total CRNCI, Ending balance	$ 172,314	$ 172,225

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
INCOME TAXES
Expected federal income tax rate (as a percent)	21.00%		21.00%
Valuation allowance	$ 35,429		$ 35,429
Net operating loss carry-forwards	281,300		$ 280,000
Operating loss carry forward subject to expiration	261,000
Operating loss carry forward not subject to expiration	19,000
Unrecognized tax benefits	0	$ 0
Change in unrecognized tax benefits	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Mt Hope (Details)	Feb. 28, 2018USD ($)$ / lb	Mar. 31, 2020USD ($)installment$ / item	Dec. 31, 2019USD ($)
Lessee, Lease, Description
Lease term		3 years
Accrued, estimated advance royalty		$ 6,888,000	$ 6,388,000
Mt. Hope Project
Lessee, Lease, Description
Payment of royalty installment		$ 500,000
Molybdenum price (in dollars per pound) | $ / item		8.40
Eureka Moly LLC | Exxon Corporation
Lessee, Lease, Description
Production royalty, as percentage of net returns	1.00%
Percentage of cash payment of total gross payments received from the purchaser of ores mined/removed/sold from property net of certain deductions	1.00%
Eureka Moly LLC | Mt. Hope Project
Lessee, Lease, Description
Lease term		30 years
Lease period for written notice of termination		30 days
Maximum period for receipt of notice of default		90 days
Maximum period for receipt of notice of default in non-payment obligation		10 days
Royalty advance percentage required by long-term lease		3.00%
Cumulative amount paid for construction royalty fee		$ 26,100,000
Accrued, estimated advance royalty		5,400,000
Annual advance royalty payment		500,000
Accrued annual advance royalty		$ 2,000,000
Number of installments | installment		4
Royalty advance percentage of production royalties		5.00%
Molybdenum price (in dollars per pound) | $ / item		12
Period of commercial production		5 years
Eureka Moly LLC | Mt. Hope Project | Other non-moly minerals
Lessee, Lease, Description
Production royalty, as percentage of net returns	4.00%
Annual advance royalty payment	$ 3,000,000
Annual advance royalty period	3 years
Threshold limit for production royalty	$ 10,000,000
Eureka Moly LLC | Mt. Hope Project | Average gross value less than or equal to $2.00 per pound | Zinc
Lessee, Lease, Description
Production royalty, as percentage of net returns	4.00%
Average Gross Value Per Pound | $ / lb	2
Eureka Moly LLC | Mt. Hope Project | Average gross value between $2.01 and $2.49 per pound | Zinc
Lessee, Lease, Description
Production royalty, as percentage of net returns	4.50%
Eureka Moly LLC | Mt. Hope Project | Average gross value greater than $2.50 per pound | Zinc
Lessee, Lease, Description
Production royalty, as percentage of net returns	5.00%
Average Gross Value Per Pound | $ / lb	2.50
Eureka Moly LLC | Mt. Hope Project | Minimum | Average gross value between $2.01 and $2.49 per pound | Zinc
Lessee, Lease, Description
Average Gross Value Per Pound | $ / lb	2.01
Eureka Moly LLC | Mt. Hope Project | Maximum
Lessee, Lease, Description
Period of commercial production		24 months
Eureka Moly LLC | Mt. Hope Project | Maximum | Average gross value between $2.01 and $2.49 per pound | Zinc
Lessee, Lease, Description
Average Gross Value Per Pound | $ / lb	2.49

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Equipment and Supply Procurement (Details) $ in Millions	Jul. 11, 2012USD ($)	Jun. 30, 2012item	Dec. 31, 2012USD ($)item	Mar. 31, 2020USD ($)instrument
Equipment and Supply Procurement
Number of primary transformers | instrument				2
Number of ball mills | instrument				2
Amount committed to be purchased				$ 0.6
Eureka Moly LLC | Mt. Hope Project
Equipment and Supply Procurement
Aggregate amount of equipment orders				88
Development costs				208.9
Total amount spent for Mt. Hope project inception-to-date				$ 298.9
Purchase Commitment | Eureka Moly LLC | Haul trucks
Equipment and Supply Procurement
Number ordered | item			18
Nonrefundable down payment			$ 1.2
Purchase Commitment | Eureka Moly LLC | Mine production drills
Equipment and Supply Procurement
Number ordered | item			4
Nonrefundable down payment			$ 0.4
Purchase Commitment | Eureka Moly LLC | Electric shovels
Equipment and Supply Procurement
Number ordered | item		2
Nonrefundable down payment	$ 3.4

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Obligations Under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Aug. 19, 2010
Operating lease obligations
Total expected payments for operating lease for the next three years	$ 100
Lease term	3 years
Expected payments for operating lease, current fiscal year	$ 100
Expected payments for operating lease, 12 to 24 months	0
Expected payments for operating lease, 24 to 36 months	0
Eureka Moly LLC
Operating lease obligations
Sustainability Trust fund asset amount			$ 5,600
Paid into trust		$ 100
Accrual for trust to be established upon certain achievements of milestones	$ 5,500
Eureka Moly LLC | Mt. Hope Project
Operating lease obligations
Lease term	30 years

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Loss Contingencies (Details)

Sep. 30, 2019USD ($)

Jul. 24, 2019USD ($)

Mar. 31, 2020USD ($)

Nov. 30, 2019USD ($)

Jul. 31, 2011item

Mar. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Sep. 27, 2019USD ($)

Aug. 19, 2019USD ($)

Aug. 18, 2019USD ($)

Jun. 30, 2019USD ($)

Apr. 30, 2019USD ($)

Dec. 21, 2015USD ($)

Jun. 30, 2013item

Aug. 19, 2010USD ($)

Loss Contingencies

Provision for post closure reclamation and remediation costs

$ 2,000,000

$ 2,000,000

$ 1,953,000

Loss contingency accrual

14,000,000

14,000,000

14,000,000

Permitting Considerations

Loss Contingencies

Provision for post closure reclamation and remediation costs

3,100,000

$ 3,100,000

$ 2,800,000

Environmental analysis, process term

3 years

Additional cash deposit

$ 300,000

Payment to trust

$ 300,000

Water Rights Considerations

Loss Contingencies

Number of parties appealing to the Nevada Supreme Court | item

2

The number of additional parties in suit | item

2

Ranchers

Loss Contingencies

Source from available cash

$ 500,000

Proceeds from private placement used

500,000

Eureka Moly LLC

Loss Contingencies

Sustainability Trust fund asset amount

$ 5,600,000

Paid into trust

$ 100,000

Eureka Moly LLC | Eureka County and the DNR

Loss Contingencies

Amount paid upon execution of the settlement

50,000

Second payment payable after receipt of the water permits

50,000

50,000

Additional contributions will be made after the commencement of production

750,000

750,000

Sustainability Trust fund asset amount

$ 5,600,000

$ 4,000,000

Amount of increase in Sustainability Trust fund asset amount

1,600,000

1,600,000

Paid into trust

$ 100,000

Eureka Moly LLC | Ranchers

Loss Contingencies

Payment to trust

$ 1,000,000

Loss contingency accrual

14,000,000

$ 14,000,000

Threshold period to secure project financing

12 months

Monthly payments until financing is achieved

$ 10,000

Land and Water Rights | Eureka Moly LLC

Loss Contingencies

Amount owed to the company

$ 700,000

Reimbursement of debt

$ 200,000

300,000

$ 200,000

Equipment | Eureka Moly LLC | Minimum

Loss Contingencies

Sale of equipment

$ 400,000

SUBSEQUENT EVENTS - Agreement i

SUBSEQUENT EVENTS - Agreement in principle (Details) - Subsequent event - PPP Loan	Apr. 24, 2020USD ($)installment
Debt Instrument
Face amount | $	$ 365,034
Debt Instrument, Term	2 years
Debt instrument interest rate (as a percent)	1.00%
Number of principal and interest installments | installment	18