Item 1.01 Entry into a Material Definitive Agreement

On August 8, 2008, General Moly, Inc. (the "Company") entered into a Molybdenum Supply Agreement (the "Off-Take Agreement") with Sojitz Corporation ("Sojitz"). The Off-Take Agreement provides for the supply of five million pounds per year of molybdenum for five years, beginning once the Mt. Hope Project reaches certain minimum commercial production levels. One million annual pounds sold under the Off-Take Agreement will be subject to a per-pound molybdenum floor price and is offset by a flat discount to spot moly prices above the floor. The remaining four million annual pounds sold under the Off-Take Agreement will be sold with reference to spot moly prices without regard to a floor price. The Off-Take Agreement also provides Sojitz the exclusive right to distribute General Moly Technical-grade Molybdenum Oxide (TMO) in Japan and a non-exclusive right to sell General Moly TMO within South Korea.

Item 8.01 Other Events

On August 11, 2008, the Company issued a press release (the "Press Release") announcing that it had entered into the Off-Take Agreement. A copy of the Press Release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Press Release of General Moly, Inc.

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