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The Creston Molybdenum deposit was extensively explored by major mining companies (Amax, Penõles, Fresnillo) during the 1970's and early 1980's. By 1981, Amax had advanced the project to the feasibility stage; however, due to the collapse of the molybdenum market, the project was abandoned.
In 1994, two astute Mexican nationals staked the heart of the property when the claims came open.
In May 2007 Creston Moly Corp. (formerly Georgia Ventures Inc.) raised $40 million in a bought deal financing through Canaccord Capital and Orion Securities, enabling the Company to purchase a 100% interest in the Creston deposit, leaving substantial cash on hand for near-term development.
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