Exhibit 10.2

 

7-29-10

 

AMENDMENT NO. 1 TO BRIDGE LOAN AGREEMENT

 

AMENDMENT NO. 1 TO BRIDGE LOAN AGREEMENT, dated July 30, 2010 (this
“Amendment”), is between General Moly, Inc., a Delaware corporation, (the
“Company”), and Hanlong (USA) Mining Investment, Inc., a Delaware corporation,
(“Lender”).

 

RECITALS

 

The Company and Purchaser are parties to the Bridge Loan Agreement, dated
March 4, 2010 (the “Agreement”) and desire to amend the Agreement to provide for
an extended Maturity Date that relates to extension of dates for completion of
specified conditions precedent in the Securities Purchase Agreement.  Undefined
capitalized terms used herein have the respective meanings set forth in the
Agreement.

 

Accordingly, in consideration of the mutual covenants contained in this
Amendment, the Parties intending to be legally bound agree as follows.

 

AGREEMENT

 

Section 3.1(a) of the Agreement is hereby amended by changing the date
“January 31, 2012,” to “March 31, 2012.”

 

Except as specifically set forth in this Amendment, the Agreement shall remain
in full force and effect.

 

[Signature page follows]

 

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GENERAL MOLY, INC.

 

 

 

 

 

 

 

 

By:

/s/ Bruce D. Hansen

 

 

 

 

 

 

Name:

Bruce D. Hansen

 

 

 

 

 

 

Title:

Chief Executive Officer

 

 

 

 

 

 

HANLONG (USA) MINING INVESTMENT, INC.

 

 

 

 

 

 

 

 

By:

/s/ Hui Ziao

 

 

 

 

 

 

Name:

Hui Ziao

 

 

 

 

 

 

Title:

President

 

 

 

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