General Moly,Inc. (TSE:GMO) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrant’s Certifying Accountant
(a) Dismissal of independent registered public accounting firm.
On January16, 2019, General Moly,Inc. (the “Company”) dismissed PricewaterhouseCoopers LLP as its independent registered public accounting firm. Such dismissal will become effective upon completion by PricewaterhouseCoopers LLP of its procedures on the financial statements of the Company as of and for the year ended December, 31, 2018 and the filing of the related Annual Report on Form10-K. The Audit Committee of the Company’s Board of Directors participated in and approved the decision to change the Company’s independent registered public accounting firm. The decision to change independent registered public accounting firms was made as a part of the Company’s ongoing cost reduction and cash conservation plan.
The reports of PricewaterhouseCoopers LLP on the financial statements as of and for the years ended December31, 2017 and 2016 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle, except that PricewaterhouseCoopers LLP’s report on the Company’s financial statements as of and for the years ended December31, 2017 and 2016 included an emphasis of matter paragraph related to liquidity pressures that could affect amounts reported in the Company’s financial statements in future periods.
During the fiscal years ended December31, 2017 and 2016 and the subsequent interim period through January16, 2019, there have been no disagreements with PricewaterhouseCoopers LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements if not resolved to the satisfaction of PricewaterhouseCoopers LLP would have caused them to make reference thereto in their reports on the financial statements for such years. In addition, there were no “reportable events” (as that term is defined in Item 304(a)(1)(v)of Regulation S-K) during the fiscal years ended December31, 2017 and 2016 and the subsequent interim period through January16, 2019, except PricewaterhouseCoopers LLP has communicated to us that the scope of its audit of our December31, 2018 financial statements will need to be expanded based on our disclosure that there is substantial doubt about our ability to operate as a going concern (see Note 2-Liquidity to the consolidated financial statements included in our Quarterly Report on Form10-Q for the quarterly period ended September30, 2018).
The Company has requested that PricewaterhouseCoopers LLP provide it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, dated January22, 2019, is filed as Exhibit16.1 to this Form8-K.
(b) Engagement of new independent registered public accounting firm.
The Audit Committee of the Company’s Board of Directors engaged Plante& Moran PLLC as the Company’s new independent registered public accounting firm as of January16, 2019. During the fiscal years ended December31, 2017 and 2016 and the subsequent interim
period through January16, 2019, the Company has not consulted with Plante& Moran PLLC regarding either (i)the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report was provided to the Company or oral advice was provided that Plante& Moran PLLC concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii)any matter that was either the subject of a disagreement, as that term is defined in Item 304(a)(1)(iv)of Regulation S-K and the related instructions to Item 304 of Regulation S-K, or a “reportable event,” as that term is defined in Item 304(a)(1)(v)of Regulation S-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
General Moly, Inc Exhibit
EX-16.1 2 a19-3238_1ex16d1.htm EX-16.1 Exhibit 16.1 January 22,…
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About General Moly,Inc. (TSE:GMO)
General Moly, Inc. is engaged in the business of the exploration, development and mining of properties containing molybdenum. The Company, through its subsidiary, Eureka Moly, LLC, holds interest in the Mt. Hope Project, a molybdenum property, located in Eureka County, Nevada. The Mt. Hope Project contains molybdenum reserves totaling approximately 1.4 billion pounds of which 1.2 billion pounds are estimated to be recoverable. It also owns a molybdenum and copper project, the Liberty Project, located in Nye County, Nevada. Its other mining properties include over 100 acres of fee simple land in the Little Pine Creek area of Shoshone County, Idaho; six patented mining claims known as the Chicago-London group, located near the town of Murray in Shoshone County, Idaho; 30 unpatented mining claims in Marion County, Oregon, known as the Detroit property, and 80 unpatented mining claims in Sanders and Madison County, Montana.