# MOL - Moly Mines



## imajica (26 July 2006)

a very impressive resource update!!!!

these guys now have JORC compliant resources  worth billions!!

market cap: 48 million (what the?????????????)


Moly Mines Limited (ASX code: "MOL") is pleased to announce a further major upgrade to the resource at the 
Spinifex Ridge Molybdenum/Copper Project, located in the Pilbara region of Western Australia. The Company's 
recently completed, 15 month drilling campaign has now converted a significant portion of the resource into the 
Measured category under the JORC Code, sufficient for the Company to consider the resource to be at a bankable 
level.  

The Measured resource has increased from 61 million tonnes to 187 million tonnes, a 200% increase as detailed 
below. 

The new JORC compliant resource using a 0.03% Mo cut-off is 500 million tonnes @ 0.06% Mo and 0.09% Cu. 

This represents a near doubling of the resource of 281 million tonnes as it stood prior to the commencement Moly 
Mines' drilling program in April 2005. The deposit remains open at depth.  

A breakdown of the new resource is as follows:  

            o  Measured - 187 million tonnes @ 0.07% Mo and 0.10% Cu; 
            o  Indicated  - 282 million tonnes @ 0.05% Mo and 0.08% Cu; and 
            o  Inferred    -   31 million tonnes @ 0.05% Mo and 0.07% Cu. 

The upgraded resource confirms the project's status as an advanced world class molybdenum project and is a 
significant milestone in the Bankable Feasibility Study ("BFS"). The completion of resource drilling allows the 
Company to commence detailed mine planning with optimised pit designs. 

This new resource has been independently calculated by engineering and mining consultants Steffen Robertson & 
Kirsten (Australasia) Pty Ltd ("SRK") using a database containing 137 holes for 44,718 metres, including the 99 
holes drilled by Moly Mines. Data has been verified and twin holes were used to confirm the compatibility of historical 
data with holes undertaken by Moly Mines. 

Spinifex Ridge now has a significant resource inventory of: 

             o  Molybdenum  -  280,000+ tonnes (~620 million pounds) 
             o  Copper  -  430,000 tonnes (~950 million pounds) 
             o  Silver  -  850 tonnes (~29 million ounces)


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## ALFguy (26 July 2006)

Yeah, very nice, I got in on this following the announcement. 
Not much volume, but certainly worth holding some.


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## mmmmining (29 November 2006)

Anyone still follow MOL? Recently several MOL stocks in TSX went up a lot, but this one is still going nowhere in a hurry. Since it listed on TSX, I hope it will take some leads from there. So far there is no relationship. MOL.TO is worth CAN$1.2. In AUS$, it should be about AUS$1.36.


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## VENMan (17 December 2006)

I bought in at $1.20 on TSX, 
After a positive BFS what do any of you think the odds of financing are?
100% or much less?

Best of luck to all

p.s I'm new to this site so i may take a while to respond. Thanks


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## mmmmining (17 December 2006)

VENMan said:
			
		

> I bought in at $1.20 on TSX,
> After a positive BFS what do any of you think the odds of financing are?
> 100% or much less?
> 
> ...




I wish I can trade stock in TSX easily. There are a lot of good stocks I want to own, such as LAM, SXR, MGA, UUU, FRG...

For MOL, there is almost zero interest in Australian. It is a good thing before everyone love it.  

I don't think financing is a problem. Only the term and condition to be worried. In worse case, they can sell stocks to shareholders.


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## VENMan (17 December 2006)

In Canada most recently, there is a company Blue Pearl (BLE) which went from about 60 cents to $9.80 cdn. They had about the same amount of moly as MOL but the grade was 11% per tonne (MOL 6%, i'm not sure what difference this makes perhaps you would know?) anyways, BLE bought a Canadian producer Thompson Creek in BC. You can see some of this information in Moly Mines presentation under comparisons.
Both the pres of Moly Mines and Blue Pearl were on a popular TV show in Canada at the same time ROB TV (Report on Business). After that program many investors myself included bought into Moly Mines.

This is why i like moly mines.  In many reports they keep saying that Moly Mines is one of the top 3 largest moly mining projects in the world. The first is Idaho General Mines (GMO, AMEX) 15.4 tpy, the second Moly Mines (MOL, ASX,TSX), 11.41tpy and the third InteMoly Greenland, 10.2. I can't buy the other two so i bought Moly Mines. Plus Worley Parsons is doing the BFS. WOR is a $4 billion dollar company and a ASX100 company with over 14,000 employees in over 30 countries so if they say Moly Mines is good i think more than a few Bankers will listen. Also, i have read that High Demand and limited roasting capacity is the reason for higher molybdenum prices. Apparently in 2005 some 24 moly producing wanna bees, with a combined capacity of 105tpy was projected (this includeds the top three) but only six roasters projected with a combined capacity of only 42 tpy. 
Now when Moly Mines came out and announced Worley Parsons was appointed to manage the BFS they also said the scope of the BFS has been broadened to include a seperate but concurrent feasibility study on the merits of constructing a Roaster/Converter facility. So that's why i also like this stock.
It made me start to think about other companies in Australia that might want to send their moly to Moly Mines roasting facility and the following potential companies i found: Havilah Resources, Thor Mining and Queensland.

i don't know if i'm off in my way of thinking. Perhaps you could call Moly Mines and ask them a few questions and reply back. Although they have an office in Toronto i don't think it's set up yet but when it is i'll call them.
This new director they got seems top notch as well. He looked after investment relations at Normandy from 1997 until 2002 when Newmount bought them out. I had a look and Newmount paid $2 Billion for Normandy. Also he is currently Investment Relations VP for a TSX company FNX mining which closed on Friday at over $18 CND. I had a look and back in December of 2000 someone could of bought that stock for 25cents CDN.
So that's why i like this new director for Moly Mines.

Well that's about all i got, that's my 2cents!
Remember to always do your own homework and this is only what one guy thinks.

Best of look to all! Kind regards


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## mmmmining (17 December 2006)

VENMan said:
			
		

> i don't know if i'm off in my way of thinking. Perhaps you could call Moly Mines and ask them a few questions and reply back. Although they have an office in Toronto i don't think it's set up yet but when it is i'll call them.




Obviously you did a lot of research. Good on you. At this moment, I am pro-occupied by uranium stocks. I own some MOL just to get moly covered, and like the story of booming oil/natural gas pipeline business, which will lead to increasing consumption of moly. 

I will call the company to get your questions answered in a week or two. Good luck with MOL.


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## VENMan (18 January 2007)

Hello everybody,
This guy should of bought yesterday;   
---------------------------------

Anybody know anything about this new director. Mr Peter Thomas. I guess he works at FGM and he helped get them A$3billion in financing. 
Could this be the only reason this stock took such a big jump?
or Could there be something else in the works?

I'll check back in a hour for any comments!

Best of luck to all


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## VENMan (18 January 2007)

Could SOmeone please give me some information regarding the Distance from Fortescue's Christmas Creek Deposit to Moly MInes Spinifex Ridge Deposit and then the distance from Spinifex Ridge to Port Hedland?

Does anyone also know the distance from Spinifex Ridge and the new Railway being built by Fortescue?

Thank You so much!


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## Kauri (18 January 2007)

VENMan said:
			
		

> Could SOmeone please give me some information regarding the Distance from Fortescue's Christmas Creek Deposit to Moly MInes Spinifex Ridge Deposit and then the distance from Spinifex Ridge to Port Hedland?
> 
> Does anyone also know the distance from Spinifex Ridge and the new Railway being built by Fortescue?
> 
> Thank You so much!



  VenMan
   Try this map...the proposed MOL mine is..from memory... between Yarrie and Marble bar..proposed FMG rail is the blue corridor..
    Cheers

http://www.ncc.gov.au/pdf/DeRaFoFR-003.pdf


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## mmmmining (18 January 2007)

It will be a hard work to connect dots between FMG and MOL. Hope you can find the answer. I just hold some to have some moly exposure although it is not fashionable here in Aussie land. It may have its day someday. 

Take the rare earth metal for example. A company called LYC has been up for more than 50% within 30 days. I used to trade LYC a bit. My last out is $0.40. I still have the order to buy back @0.375. (actually it just missed by 0.5 cents  ) No chance in a short time frame.


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## VENMan (19 January 2007)

kauri, thank you for the map, it's a great help
mmmmining, best of luck in your trades.


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## Kauri (19 January 2007)

VENMan said:
			
		

> kauri, thank you for the map, it's a great help
> mmmmining, best of luck in your trades.






> Mr Tapp also confirmed Fortescue may launch a fresh application to the National Competition Council to have BHP Billiton’s Goldsworthy railway “declared” a service under the Trade Practices Act and opened to other users.
> 
> Last month the Federal Court ruled that neither BHP Billiton’s Goldsworthy nor Newman railways should be exempt from national competition laws, while the Australian Competition Tribunal is expected to hear Fortescue’s appeal against the Federal Government’s refusal to declare the Newman railway before the middle of the year.




   The Goldsworthy line goes from Port Hedland through to Yarrie. Its the old GML line for Goldsworthy and Shay Gap. Not too far from MOL..


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## VENMan (20 January 2007)

As we all know, Mr. Thomas from FMG became a new director in Moly Mines.
Moybdenum is used in the making of stainless steel and FMG from my understand makes steel. I'm speculating but I think Moly Mines and FMG could do business together. I think Mr. Thomas could go to his contacts in China and get sign contracts for the molybdenum Moly Mines is going to produce which would help secure financing for Moly Mines. The railway from Yarrie to Port Hedland is a very good point. Please post back what the tribunial has to say. I think many Canadian investors see Moly Mines as a $3 dollar stock in 12months. 

What do you guys think? 

20million pounds of moly at $25 a pound is $500 million in annual sales. 

If Moly Mines needs $400 million, do any of you think Moly Mines would have any problems getting the loan?
I think a bank will use $12.50 a moly pound. So would a company be able to get a $400 million dollar loan if they could get $250 million in sign contracts in China for their product?

Does anybody have a bankers point of view? Thanks


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## YOUNG_TRADER (27 February 2007)

Big spike today on no ann

I hope its a T/O and while I'm not a holder of MOl, I am in CYL a very early stage Moly Player, its where Moly was 12-18months ago, with MOL gone CYL will be the only pure Moly play left I think


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## nizar (27 February 2007)

YOUNG_TRADER said:
			
		

> Big spike today on no ann
> 
> I hope its a T/O and while *I'm not a holder of MOl*,




LOL good, i was gonna kill you if you held it!
Its not fair for one person to get all the breakouts!!!   

LOL joke...


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## nogutsnoglory1 (9 March 2007)

I have posted a video of Mr.Fisher at the 2007 PDAC in Toronto from Tuesday.
http://www.istrikeinvestments.com/index.php?option=com_frontpage&Itemid=1
enjoy, the interview was great.

Landon


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## bvbfan (22 March 2007)

This has gone parabolic here and not one post...
Oh well 

Had a few good trades from 1.40 to 1.60's now wishing I hadn't sold at 1.60's last time


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## YOUNG_TRADER (22 March 2007)

Finally getting the attention it deserves, their Moly project is worth heaps!

If you wish you'd be on the MOL train then CYL is worth a look, its where MOL was 18months ago in terms of its Moly project


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## bvbfan (22 March 2007)

Already in on CYL (O)

Wish they would  concentrate on Moly instead of trying to put their finger  in  the Uranium pie

Few of the other Moly plays in  Canada, ROK, AUA getting support from the Sprott Moly fund that's planned

There are a few others with moly exposure I  came across just can't remember who (THR as a secondary to the tungsten)


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## prophet174 (4 April 2007)

Does anyone now the reason behind the sudden interest in Mol from the Canadians. An sp rise of 22% in two days???


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## bvbfan (4 April 2007)

The Sprott Moly Fund to launch soon

And the jump in Moly prices.

DGR had a great run yesterday, few other moly plays which have not moved yet


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## Taurisk (4 April 2007)

prophet174 said:


> Does anyone now the reason behind the sudden interest in Mol from the Canadians. An sp rise of 22% in two days???




Sorry, don't know the answer to that one, especially since half the world's molybdenum occurs in the U.S.
However, the Canadians do keep an eye on the Australian market, I suspect our shares are much cheaper than U.S. shares and Molybdenum is a very important metal in steel production, used in aircraft, armour plating and many other things, but I'm sure you know this:
check this link:  http://en.wikipedia.org/wiki/Molybdenum

I'll probably buy into this sector.

Cheers

Taurisk


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## purple (25 June 2007)

MOL has been consolidating for quite a while now. looks like it might just have enough for a breakout soon, if a good ann comes.

but looks like it's only stock specific - THR and CYL have not had that great a run themselves.


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## YELNATS (25 June 2007)

purple said:


> MOL has been consolidating for quite a while now. looks like it might just have enough for a breakout soon, if a good ann comes.
> 
> but looks like it's only stock specific - THR and CYL have not had that great a run themselves.





Although Thor Mining PLC (THR) has not done too bad of late - up 6.5% today to 41 cents. regards YN


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## purple (26 June 2007)

YELNATS said:


> Although Thor Mining PLC (THR) has not done too bad of late - up 6.5% today to 41 cents. regards YN




Yeah, seems like Thor is starting to put all that chinese pullout and insider trading fiasco behind and starting to move again.


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## Bushman (26 June 2007)

Here is a report prepared by Far East Capital on the state of play of Tungsten on Molybdenum prospects in Australia. It mentions a couple of companies - THR and QOL amongst them - looking to produce tungsten and molybdenum mines in the short to medium term.

View attachment tungsten21June07.pdf


To quote the report:
'The tungsten market has been overshadowed by the
surge in molybdenum prices from US$25/lb in February to US$33.50/lb at the end of May.' Could be explaining some of the renewed interest in this sector.

No mention of the company you are interested in but should help with your overall segment analysis. 

PS: hope attachment works. First time I am having a go at using this forum.


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## moses (13 July 2007)

Mol has a very interesting chart; a great volume spike two months ago and now gapping up twice just before quarterly ann is released.


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## adobee (16 July 2007)

Hi, I Hope that some of you who have commented on this are still holding.. Very strong price increases in the last week and really breaking out, the volume remains reasonable small.


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## Sean K (16 July 2007)

adobee said:


> Hi, I Hope that some of you who have commented on this are still holding.. Very strong price increases in the last week and really breaking out, the volume remains reasonable small.



Hooly dooly, this has gone balistic. No ann? Speeding tickets? Golly, something in the wind here. Takeover? But such low volume? Moly is certainly one of the metals to be digging up at the moment.


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## adobee (20 July 2007)

Moly mines is flying now up to $7.00  .. this is a really breaking out no..
Not alot of volume yet though..   hopefully not just being manipulated.


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## adobee (23 July 2007)

I cant believe more people are not holding this stock or commenting on it. Anyway high at 7.25  still low volume and not may sellers..


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## adobee (2 August 2007)

Mass mutual financial group has become a major share holder round 5% with majority of shares being purchased at around 6.52.


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## adobee (21 August 2007)

Moly mines came down substanially over the past week almost 50% of where it was peaking prior to the market change .. I have taken this opportunity to double up the money I have invested and expect a strong recovery.. There are limited sellers of this stock ..


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## bvbfan (22 August 2007)

I've repurchased most of what I sold but leave a little available just in case there is a bigger drop to sub $3.

Time to buy up the world class mines starting production next 2-3years


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## adobee (22 August 2007)

Forget sub $3.00 MOL is heading back to $7 where it belongs.. Strong buy orders around $4.50.............................


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## moses (22 August 2007)

MOL's performance today has been very positive, gapping up beautifully as MOL does best. Now up 25% and just shy of $5, and with almost no sellers in the queue, this stock could easily bounce back to $6 very quickly if past performance is an indicator.


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## moses (23 August 2007)

No. After todays performance MOL is looking like a short. The SMA chart has gone sharply into reverse, and the candle shows ominous deliberation.


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## FUTUREFUND (25 September 2007)

Anyone following Moly Mines? DFS out! Increased volume on TSX 2mill closed up 11% $4.30 c. circa $4.60 Aud bringing in line with asx. Does Sprott know something, any thoughts?


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## Miner (25 September 2007)

DFS is an excellent.
MOL has already started moving engineering personnel to undertake detailed engineering. If my sources are correct then it is the same team with WOR backing who were engaged in FMG project.
As you know Molybdenum is an important ingredient in making alloy with high speed steel etc. Not preaching metallurgy but the alloy  steel with Chromium and Moly onto it are value added products.  Same applies with Manganese. Under lay man terms if you are buying an ordinary steel (structural as used in construction industry) for one unit then a special steel with Moly and Chrom will fetch 12  units for the same weight. The project has great potential and excellent team. With iron ore increase in price means steel price increase and obviously as a correlation Moly price will go up. Unfortunately that means our car prices will go up too (Please correct if I am wrong here)

However as an ordinary Miner I do not know the synergy between Aluminium maker and Steel maker. Yes I am referring to recent addition in teh board and would be observing the effect in company performance . Please refer to Worsley Alumina expansion record, Alcan in Gove record which are excellent . But they are not from Ferrous Group. 

Let us think positive.

MOL went up to $7 for few days and probably by fluke. But this time it will be no fluke with solid DFS.

Happy investing

Regards


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## FUTUREFUND (26 September 2007)

Miner I agree with you, Spinifex Ridge is a quality long term project with a Market savvy management and the Andrew Forrest connection hasn't hurt the share price either. 

Moly's descision to list on the TSX where they are familiar with Molybdenum has been instrumental in the sp movement. China produces aproximately 30% of the worlds Mo and are apparently no longer exporting  due to supply! China's Insatiable appetite for Fe will continue to drive demand.

I would like to see more volume, but if you look at FMG in the earlier days volumes were similiar. I like they the planning and timing of this announcement especially with regards to the TSX, but it doesnt seem to be having the desired effect currently trading $4.08 c down 5% aprox $4.37 Aud not the response Moly were hoping for I think. Maybe after the webcast ?

GOOD FUTURE FOR MOLY HOLDERS.


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## michael_selway (26 September 2007)

FUTUREFUND said:


> Miner I agree with you, Spinifex Ridge is a quality long term project with a Market savvy management and the Andrew Forrest connection hasn't hurt the share price either.
> 
> Moly's descision to list on the TSX where they are familiar with Molybdenum has been instrumental in the sp movement. China produces aproximately 30% of the worlds Mo and are apparently no longer exporting  due to supply! China's Insatiable appetite for Fe will continue to drive demand.
> 
> ...




Hm not bad

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS -1.6 -68.9 34.6 196.8 
DPS 0.0 0.0 0.0 0.0 *

thx

MS


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## adobee (26 September 2007)

I am on my way back from Fiji I am sitting in an airport looking at MOL but cant open the attachements in PDF on the cafe computer.. I have four hours to kill so may keep trying.. please this sounds positive though..


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## BIG BWACULL (26 September 2007)

Article Yesterday

*Moly Mines to push ahead with $1bn Pilbara project*

25-September-07 by Julie-anne Sprague




> Moly Mines Ltd intends to produce molybdenum from its Spinifex Ridge project by July 2009 after today revealing the results of a definitive feasibility study showing the project was economically viable despite its capital cost jumping to $1.07 billion.
> 
> Once completed, Moly Mines said the project would produce about 5 per cent of the world's molybdenum and would also be one of the world's top five producers.
> 
> ...


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## FUTUREFUND (26 September 2007)

Big Mwacull,

Its all looking great for Moly, the webcast and powerpoint arranged in toronto, and detailing the points in your post is provided available on Moly's website. Financing next step! which is in process I also like the fact that there is mention by Derek Fisher of JV with various parties chinese, korean and japanese mentioned with chinese visiting site recently. Webcast was after TSX close last trade lets see how TSX opens tonight.


FUTURE LOOKS BRIGHT


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## prophet174 (27 September 2007)

The canadians don't seem that impressed with the latest announcement. Anyone know why the the MOL sp on the ASX is taking the lead from MOL on the TSX?


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## FUTUREFUND (27 September 2007)

I agree considering the way the canadians have taken to moly and the volume of shares that have been traded since listing on the TSX, expectations by holders would have been higher.

Maybe increased capex 33% due to extra thru put !!!???

Maybe market has overlooked the Moly price modelling of US $13.80 lb not current $32.00lb? or didnt like that the project was modelled over 10 yrs ? and pit design 16yrs.

Maybe ? there looking at our trade on ASX and asking whats going on ?

At the end of the day I think what was delivered in the DFS has already given the share price a decent ride, the price seems to be moving ever so slightly with a little more volume. The price will move upwards as influencing factors eventuate - Financing, Chinese or other investment, more local interest on ASX and as has been the case following the TSX's positive trade.

I would like to see some Australian analyst coverage and Institutional buying, But at the end of the day the Fundamentals are Good we just have to be patient.

FUTURE MOLY SHARE PRICE UP UP UP


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## michael_selway (1 October 2007)

FUTUREFUND said:


> I agree considering the way the canadians have taken to moly and the volume of shares that have been traded since listing on the TSX, expectations by holders would have been higher.
> 
> Maybe increased capex 33% due to extra thru put !!!???
> 
> ...




Is the mine life of Moly still 20 yrs as per their site?

*Spinifex Ridge, located in the development-friendly Pilbara region of Western Australia, hosts a 470 million tonne Molybdenum and Copper resource that can sustain a 20 million tonne mining operation for more than 20 years.*

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS -1.6 -68.9 34.6 212.4 
DPS 0.0 0.0 0.0 0.0 *

thx

MS


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## FUTUREFUND (1 October 2007)

Michael Selway,

Yes mine life is stated at 20 yrs + obviously dependant on thru put, initial estimates were based on aprox 15mtpa, the DFS is now based on 20mtpa leaving a resource of 272mt. The capex increase was largely due to increasing thru-put and providing the heavier duty primary crusher and ball mills, which can handle up to 27-28 mtpa.

Derek Fisher has confidently stated that this is a 30 year project. In the PDAC 2007 video interview by istrike, which can be viewed on Moly site he has stated that opinion.

Derek Fisher and the team at Moly have adopted a conservative modelling approach for the financing and structure of the project, the same attitude the banks evaluate on. 

The other reasoning as stated by Derek fisher is they would basically like to keep their options open as to the future expansion and output of the mine. eg: what have they found along the way ? The prices of mining costs and Molybdenum 10yrs on ?  Derek fisher stated early on that the company stopped drilling at aprox 200 holes as they had found enough for this project, the DFS states 238 holes to be exact.

The potential for drilling outside the perimeters of the DFS area and near the bottom of the pit are exciting to say the least able to take the project well beyond 20yrs. But management are focussed on getting this project up and running.


THE FUTURE IS LOOKING BRIGHTER FOR MOLY


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## Miner (2 October 2007)

Dear Future Fund

Not sure if you are yourself Derek Fisher or one of the fund managers for MOL writing under disguise in this col. If you are not then feel proud to write such notes which expected to come from people very close of Derek Fisher. 

I would be asking why MOL SP is so erractic, recent price increase and what were the reasons that MOL suddenly shot up to $7?

Notwithstanding the Moly price is going to be up but when MOL really going to be producing to fetch the high price for MOL?

Other than Mr Derek Fisher who knows the answer?


Regards

Miner


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## FUTUREFUND (3 October 2007)

Dear Miner,

No Unfortunately I am not Derek Fisher or a fund manager etc. I am a private investor and shareholder of Moly mines. Any knowledge or information that I have posted is readily available within MOL'S company announcements and their website, print and online media and the TSX.

My opinion of Derek Fisher has been formulated through research and observing the manner in which he and his team have tirelessly foccussed on bring this project to fruition. In march this year I saw him give an Impressive presentation at a Investor roadshow, the best of the day and created the most interest to investors.

As for the performance of the share price I understand what you are saying. In a project of this size there a lot of phases over a long period and the share price not always but generally reflects these positive/negative stages. Molybdenum as a commodity being little Known in Australia has probably had an effect as has the lack of Insto coverage, but this will all change as the project advances.   

I believe from some of the media on the Moly site that some time in june/july around the time of the sp peak Derek Fisher was doing the rounds to fund managers and brokers in the UK, US, and Toronto. And this may have been the influencing factor for the share rally, the sp fall maybe due to the fact that the DFS was originally due end of july ? 

Starting to see better volume here and a lot better on the TSX and Paradigm, Haywood, and Wellington are buying. p.s. Have you looked at the recent promotional video on Moly site worth a look and I think its smart how they have spinifex project info translated in chinese ! 



FUTURE LOOKING BRIGHT FOR MOLY


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## Miner (4 October 2007)

Dear Future Fund
Thanks for your note and I am pleased to see how good research can emulate knowledge. Well done and thanks again for helping me some doubts on SP.
 I am not trying to pamper you but you do write with confidence and better English.

I am also following the MOL share very closely with few others. With my working with ferrous based minerals and sharing what you and others said I recognise technically MOL has the intrinsic value. However it is all about market. If people who are ready to spend do not understand the value of Moly then the share will slug.

Yes, I have seen the presentation in website and very professional. I also noticed a chunk of good personnel has moved to work into MOL project from FMG. One of the directors from FMG is also in MOL board.

If I sale MOL share today I can guarantee that the price will rise extremely high from some of my impatient experience:banghead :. 

May be people who want to see their MOL shares to go up should  motivate me to sale and then fund me for my  deficit from their profit !!!

No technical information on this note so please do not call me name.  

Regards
Miner


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## prophet174 (13 October 2007)

Moly Mines Moves Rapidly to Detailed Design and Construction Planning at Spinifex Ridge Following Completion of DFS
10/11/2007       

- Potential Financiers And JV Partners Conducting Due Diligence On Project

TORONTO, ONTARIO, Oct 11, 2007 (MARKET WIRE via COMTEX News Network) -- 
Moly Mines Limited, (TSX: MOL)(ASX: MOL) reports that since completion last month of the Definitive Feasibility Study (DFS) on its Spinifex Ridge moly-copper project, the Company has rapidly moved to detailed design and planning for construction of the mine and processing facilities in the Pilbara district of Western Australia. 

In particular, the Company has implemented a detailed execution plan aimed at having the necessary finance for Spinifex Ridge in place, all permitting completed and construction commenced by the end of March 2008 in order to meet its production start-up target of July 2009. 

Copies of the detailed Information Memorandum on the project have been circulated to those major North America, European and Australian financial institutions that had previously expressed strong interest in assisting the company with financing Spinifex Ridge. Copies have also been distributed to potential joint venture partners. 

An electronic data room has been opened, and the interested parties are now conducting due diligence on the project. 

In addition, Moly Mines has progressed its personnel recruitment programme with the critical appointment of a project construction manager, Mr Terry Scott, who has over 30 years experience in managing the delivery of major mining, mineral processing, civil engineering, heavy construction and building projects. His most recent project was the A$760m Yabulu Extension at the QNI nickel refinery in Townsville, Queensland for BHP Billiton. He holds a Bachelor of Engineering (Civil) degree and is a Registered Mine Manager - Open Cut. 

His early appointment will enable him to make a considerable contribution to the detailed design, execution planning and construction strategy for the Spinifex Ridge project. 

Also joining Moly Mines, as senior metallurgist, is Mr Sam Thong who brings to the company some 15 years of extensive experience in crushing, grinding, and flotation circuits and in the application of new technology. He will report to metallurgical manager, Mr David Pass. 

The Spinifex Ridge DFS was prepared and managed by WorleyParsons, Australia's largest resource engineering group. The company commenced detailed engineering and design activities for project implementation in August, and a significant number of their engineering team dedicated to the project will be accommodated in Moly Mines' West Perth offices. 

Moly Mines already has over 40 full-time employees dedicated to Spinifex Ridge, and project implementation will be significantly enhanced by the integration of the WorleyParsons design engineers with the company's senior technical managers and staff. 

Engineering and support services staffing numbers are expected to rise to around 100 in the next 6-8 weeks, and Moly Mines has completed sub lease arrangements for an additional 1,500m2 of floor space at a neighbouring premises to accommodate the expanding workforce. 

The company's personnel manager, Ms Sue Germon, recently participated with a number of other companies in a two-day recruitment seminar in Johannesburg, organized by the Australian Government. Over 7,000 people attended, many seeking employment in the mining industry. Her attendance was in integral part of the company's forward planning and recruitment strategy. 

The Spinifex Ridge orebody contains more than 600m lb of molybdenum and will be exploited by a conventional truck and shovel open pit mine at an annual rate of 20m tonnes. The processing plant will produce separate moly and copper concentrates. Using a long-term (post 2015) moly price forecast of less than half the current US$32/lb, the DFS shows revenues of US$4.94bn in the first 10 years of operation, with moly accounting for US$4.4bn of this total. With capital costs estimated at US$852m, payback would be achieved in three years. 

Contacts: Moly Mines Limited Dr. Derek Fisher Managing Director + 61 8 9429 3300 Email: info@molymines.com Website: www.molymines.com 

SOURCE: Moly Mines Limited 

mailto:info@molymines.com http://www.molymines.com 

Copyright 2007 Market Wire, All rights reserved.


----------



## bvbfan (16 October 2007)

Waiting on the sidelines for the next correction to add these to a long term portfolio.

Hoping that the correction will see MOL around $4 or less but as to when it will occur?


----------



## michael_selway (16 October 2007)

bvbfan said:


> Waiting on the sidelines for the next correction to add these to a long term portfolio.
> 
> Hoping that the correction will see MOL around $4 or less but as to when it will occur?




Hi when do u think the next correction will be?

thx

MS

*Earnings and Dividends Forecast (cents per share) 
2007 2008 -- 2010 
EPS -1.6 -14.0 -- 208.4 
DPS 0.0 0.0 -- 0.0 *


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## bvbfan (16 October 2007)

We are starting it now I feel.

Unless XJO can break 6800 decisively in the next few days we will start to head lower. 
It's hard to pin point a cataylst but the run up has been too quick for my liking.


----------



## Miner (17 October 2007)

Dear B Fan

Looks like you were very right. There is likely to be a sharp correction on Wednesday. ONe hidden thing is about Citi COrp huge loss and how much was related to Sub Prime is only known to them.
Though this is not relevant to MOL but across the all the DJ has fallen again tonight.  At 10.30 AM New York time DJ has fallen by 86 points. 
This will be reflected in ASX on Wednesday.
I have produced some extract  which will be magnified (I hate it) by the close of Dow analysis tonight:

*Market falters as oil hits $86, big banks set up credit fund**From wire reports *
October 16, 2007 

 NEW YORK - Stocks pulled back sharply yesterday as news that major U.S. banks will set up a fund to help bail out the credit markets and as oil prices surged to $86 per barrel for the first time. The Dow Jones industrial average lost 108 points.

The stock market's pullback comes not only amid concerns about debt and rising energy costs but as investors await third-quarter reports due this week from more than 80 components of the Standard & Poor's 500 index.

The Dow fell 108.28 to 13,984.80. Broader stock indicators also declined. The S&P 500 index declined 13.09 to 1,548.71, and the Nasdaq composite index lost 25.63 to 2,780.05.



The Russell 2000 index of smaller companies fell 11.81 to 829.36.

The Sun-Bloomberg index of the top stocks in Maryland fell 3.44 to 361.93. Federal Realty Investment Trust declined $2.27 to $88.63, while Legg Mason Inc. fell $2.19 to $84.38.

Declining issues outnumbered advancers by about 8-to-3 on the New York Stock Exchange, on volume of 1.29 billion shares.



Wall Street's unease yesterday follows a period of calm after worries about the credit markets roiled markets around the world over the summer.

*The credit markets didn't show signs of recovery until the Federal Reserve reduced short-term interest rates and the rates it charges on loans to banks*


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## semochen (28 October 2007)

Article on mineweb
http://www.mineweb.net/mineweb/view/mineweb/en/page39?oid=38912&sn=Detail

*Moly Mines closing in on finance for big Spinifex Ridge operation*
Possibly what will be the first of the big new molybdenum mine developments to come on stream, Moly Mines says it is close to tieing up finance for this massive A$1bn primary moly project.

Author: Lawrence Williams
Posted:  Friday , 26 Oct 2007 

LONDON -  

Speaking to Mineweb in London today, Derek Fisher, CEO and Managing Director of Australian molybdenum developer, Moly Mines (ASX, TSX: MOL) was quietly confident that finance for what would be one of the world's biggest new molybdenum mining projects was in the final stages of arrangement.  He went on to say that an announcement on the indicative financing arrangements would be forthcoming shortly, following a Board meeting in Australia next week.

Fisher was one of the speakers at yesterday's successful Mining Journal 20:20 half-day meeting where he presented details of the company's Spinifex Ridge project in Western Australia's Pilbara region, where it has outlined a huge resource.  Proven and Probable Reserves are stated at 314.6 million tonnes of ore grading 0.061% Mo, 0.092% copper and 1.7 g/tonne silver.  (A JORC/NI 43-101 complinat assessment of the measured and indicated resource is 469.2 million tonnes at 0.058% molybdenum and 0.089 percent copper and 1.6 g/tonne silver).  A higher grade core section means that it will be possible to mine to higher grades in the early stages of the operation thus boosting early cashflow potential. 

By any accounts, this is a massive deposit.  It is in an area with substantial existing mining activity, and while final environmental approvals should never be taken for granted, this is a mining-friendly area and such approvals are expected early next year.  It is also close to a major natural gas pipeline which will provide the fuel for the mine's power, giving it a very low cost per kWh.

As to confidence as to whether this, among the new moly projects, is one which will definitely move ahead, Moly Mines has already implemented detailed engineering and placed forward orders for key long lead time processing equipment.  The company has already been in direct contact with the major contract miners over preliminary contract mining costs - contract mining is the normal pattern in Australia. 

With finance virtually set, Fisher is hoping to start construction in 2nd quarter 2008 and bring it on stream in the third quarter of 2009.  Economics appear robust on the very considerable amount of work put into the Definitive Feasibility study by Worley Parsons, Australia's biggest firm of resource engineers.  Capital costs are put at A$1.07 billion (US$981 million) and cash operating costs estimated at only $6.92/lb moly after taking into account copper credits - compared with the current moly price of over $30/lb.  Annual output is calculated at 24 million pounds of molybdenum a year, putting it straight into the top tier of moly producers worldwide.

On the projected development schedule Spinifex Ridge should be on stream ahead of most, if not all, of any other major new moly projects and should thus be one of the first to reap the rewards of high prices in the sector, which are expected to remain firm at least into the beginning of the next decade.


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## Miner (28 October 2007)

If I am selling my goods on future prospect  I will make sure to provide a good sales pitch.
Mr Derek Fisher was no different and hats off to him.
If that speech accelerates the sagging MOL price then his home work will do temporarily.

There will be plenty of ups and downs until mid 2009 by when he will be refine his speech on company's future again

Regards


----------



## semochen (14 November 2007)

MOL on trading halt this morning.......

hope it will be good news

any ideas on what the news would be anyone???


----------



## Miner (15 November 2007)

Nothing much- strategic alliance by selling the shares at 4 dollars and diluting the existing shareholders. See the attachment of ASX.
With rising trend of Dow tonight, probably MOL will rise by 10 cents for a day or two just to fall down below $4.

Life is Cool otherwise.


----------



## bvbfan (15 November 2007)

Sure shareholders aren't going to like it.
But it's part of how the funds will be raised.
Debt markets aren't as favourable it would seem so equity raising has to be the way.

Oxiana had to double the capital structure at 25c or so then again at 50c.
People complained but look at it now.

They'll be another raising in March so be prepared for it or get out.

Right now I doubt it'll get much past $5 but I'm prepared to hold for 2009/10 when earnings alone should support a multiple of the current share price.


----------



## reece55 (22 February 2008)

Nice move up in the last couple of days, finally getting out of the trading range it' s been in for a little while... Any else pick up some in these after the crash, I took a very small bite....

Fundamentally, loads of upside in this stock - Molly on the up and it's got a great resource, a conservative NPV more than supports the current market cap.

Cheers


----------



## doctorj (22 February 2008)

They must be close to placing the debt they need in order to develop Spinifex Ridge.  It'll be interesting to hear how their roadshow went given all the subprime debt issues.


----------



## Birdster (22 February 2008)

reece55 said:


> Nice move up in the last couple of days, finally getting out of the trading range it' s been in for a little while... Any else pick up some in these after the crash, I took a very small bite....
> 
> Fundamentally, loads of upside in this stock - Molly on the up and it's got a great resource, a conservative NPV more than supports the current market cap.
> 
> Cheers




What's the reason for the rise? No anns... no news... not even a thread on it till you Reece. Entering in to my WL and going to study. 

It's funny that my portfolio has the most highest % of mining spec stocks atm since bailing last dive of the market. 

Day trading enviroment atm, IMO. Not to mention cheap buys for long. 

MOL is not subject to either unless there is some underlying result. 

Note: not holding--but curious

DYOR - you know the drill...


----------



## jman2007 (23 February 2008)

reece55 said:


> Nice move up in the last couple of days, finally getting out of the trading range it' s been in for a little while... Any else pick up some in these after the crash, I took a very small bite....
> 
> Fundamentally, loads of upside in this stock - Molly on the up and it's got a great resource, a conservative NPV more than supports the current market cap.
> 
> Cheers




Been watching this stock with some interest myself,

Although also a little surprised that there hasn't even been a thread on MOL until now. Yes the resource base as such looks extremely impressive, although haven't picked up any as yet, even post-correction.

jman


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## bvbfan (3 March 2008)

There is a thread for MOL (https://www.aussiestockforums.com/forums/showthread.php?t=4019&highlight=moly&page=4)

Maybe merge the two?

I topped up in the 2.40's but took profit on that when it spiked to 3.40 recently.  Didn't like that it was trading at a 20c premium to Toronto listing.

With current Copper and Moly prices in ground resource valued at about $25billion with market cap of $250million.
I like that discount


----------



## jman2007 (11 March 2008)

Crikey...

Not a place for the faint-hearted if you were thinking of trading MOL today, in what only can be described as 2 shocking days of trading.

Getting tantalizingly close to that important 2.50 mark, around which recent "mini-rallies" have been staged.  Bidders appear to be consolidating there positions around this mark, although there is currently a significant discrepancy between highest bid vs lowest offer atm.

I'm not prepared to call this one yet, but will keep a careful eye on trading tomorrow. Obviously much will depend on events in the US tonight.

Some input and opinions from investors who have owned and traded this stock would be much appreciated.



bvbfan said:


> There is a thread for MOL




Ahh yes, sorry about the *cough* double-thread thing 

jman


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## Miner (11 March 2008)

Moly Mines has few interesting factors :

Director Peter Thomas - Nominee of Andrew Forrest
Director Michael K - the famous speculative king
Consultant - Worley Parsons - doing lot many engineering projects but so far not produced a single delivered EPCM.
Moly has a good synergy as a metal with steel / nickel and iron ore. All will boom together and sink together. However when sinking MOL will be a faster decccleration !!


----------



## jman2007 (12 March 2008)

Miner said:


> Moly Mines has few interesting factors :
> 
> Director Peter Thomas - Nominee of Andrew Forrest
> Director Michael K - the famous speculative king
> ...




You sound a bit unconvinced Miner

Under their Corporate Directory I have Derek Fisher as MD, and Michael K does not appear on the list.  Perhaps there has been some personnel change I am not aware of, or their website is not up-to-date?

jman


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## doctorj (12 March 2008)

Sorry Miner, you're going to need to update your information.  jman2007 is on the money - Twiggy was involved but stepped aside after the Canadian regulator had misgivings about his history.  I'm not sure of Kiernan's involvement, but I'm certain he's not involved anymore - he's got his hands full just down around the corner at Territory.


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## Miner (12 March 2008)

doctorj said:


> Sorry Miner, you're going to need to update your information.  jman2007 is on the money - Twiggy was involved but stepped aside after the Canadian regulator had misgivings about his history.  I'm not sure of Kiernan's involvement, but I'm certain he's not involved anymore - he's got his hands full just down around the corner at Territory.




Thanks Jman and Doctor J

Dr Fisher is definitely the MD and was the MD.
I mentiioned anout Peter Thomas. Who is the Financial Controller of FMG and Director of MOL.  He is there as a director on behalf of Andrew F.
Yes, it looks like Michael K is no more there as one of top 20 share holders. He was never a director there. I should have clarified that and thanks.
I have no misgivings about MOL. In this forum I said about the project, colin agnew (ex Worsley Alumina and Gove) and the importance of Moly as a metal in the past.
It is a great project . My only point was the share price has been sluggish for long time.
Any way thanks a lot

Mr David Neil Constable Non-Executive Director -- 
Mr C J Agnew Non-Executive Director -- 
Dr Derek Fisher Managing Director, Chief Executive Officer -- 
Mr. Paul Willis Non-Executive Director 27/01/2006 
*Mr Peter Thomas Non-executive Director -- *


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## jman2007 (13 March 2008)

Miner said:


> Thanks Jman and Doctor J
> 
> It is a great project . My only point was the share price has been sluggish for long time.
> Any way thanks a lot
> ...




No worries Miner,

I know you're not the type of guy who would purposely try to mislead us, thanx for supplying the clarification for us. 

Cheers
jman


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## reece55 (18 March 2008)

Molly mines announces today that due to ongoing capital constraints, it's debt financing is likely to occur in H2 08 rather than H1.....

And down she goes...  disappointing, but that is the market we are in... enough pain for me on this one, time to jump ship......

Link on bloomberg

Cheers


----------



## SenTineL (8 April 2008)

MOL up today by 20% on the back of announcements.

Are any of you guys still holding this one? Looks like it got battered recently.


----------



## jman2007 (8 April 2008)

SenTineL said:


> MOL up today by 20% on the back of announcements.
> 
> Are any of you guys still holding this one? Looks like it got battered recently.




Nah SenTinel,

Not holding MOL atm, great announcent though, definitely sends a clear sign to the market that MOL means business. Was considering an entry around 2.60 a few weeks ago, but perhaps now I've missed my best chance...

jman


----------



## JTLP (8 April 2008)

2.60 JMan???

I think you mean 1.60 my good sir.

If not...it's well below your buy in price...so go for it! :::


----------



## 56gsa (9 April 2008)

SenTineL said:


> MOL up today by 20% on the back of announcements.
> 
> Are any of you guys still holding this one? Looks like it got battered recently.





EPCM contract was not unexpected news - think the market got excited by this statement in the announcement:


> The Company continues to work closely with its advisors to bring a financial close to the Spinifex Ridge Project and is well advanced with financing documentation which will facilitate a rapid financing process.


which is suitably ambiguous to suggest anything and keep everyone interested - given the premiums being paid to obtain finance by WES, BOR not to mention the king of junk bonds himself at FMG (who I think was involved with this mob at some stage?),  I wonder how the little old MOL will go?

don't under estimate this final hurdle in the current climate and while they have JP Morgan running the book, and their New York-based resource investment house Harbinger Capital Partners on board with 19.9% bought at $4 (ouch!), are those out there looking to park a spare $1bn going to be considering molydbenum ??  i could think of other commodities i'd be considering first....

anyway good luck to 'em and no doubt some rises to come in anticipation of positive news...


----------



## YOUNG_TRADER (9 April 2008)

Hmmm nice, Moly Mines working away,

Anyone know what the spot Moly price is?

It wasn't that long ago that PMH and MGO were all the rage because of their MOLY hits/tonnage


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## Nuke (9 April 2008)

hey YT,

moly spot price is US$33.75/lb. MOL used $13 prices in NPV calcualtions

http://www.infomine.com/investment/historicalcharts/showcharts.asp?c=Molybdenum


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## Nuke (9 April 2008)

Also,

If u like the future of molybdenum check out PRZ. Currently in the process of acquiring an advanced project that rivals Spinifex Ridge in size


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## YOUNG_TRADER (9 April 2008)

Nuke said:


> hey YT,
> 
> moly spot price is US$33.75/lb. MOL used $13 prices in NPV calcualtions
> 
> http://www.infomine.com/investment/historicalcharts/showcharts.asp?c=Molybdenum




wow the Moly price is almost 3x their NPV calcs, I suppose to err on the side of caution these groups use long term conservative prices which is fair enough I guess, I mean if the project was financially viable at $13/lb then it must be bonaza at $34/lb!

If they can get into production ASAP will reap bonaza cash flows


----------



## YOUNG_TRADER (9 April 2008)

Hey Nuke thanks for the link,

Looks like theres lots of spec metal prices at that site, thanks I'll keep it for my future research/reference

Anyhoo heres a 10year Moly Chart


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## Nuke (9 April 2008)

hey YT,

infomine.com is the best and biggest mining datatbase. im not a subscriber but will be very soon. the info they provide is well worth the subscription fee. also, edumine provides online courses on a variety of minining related topics which are very useful

nuke


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## AussiePaul72 (9 April 2008)

If anyone is interested in emerging moly companies, another to keep an eye on is Millenium (MOY). They renamed the company (originally Wedgetail WTE) upon finding a significant molybdenum anomoly which they have termed the Millenium resource. It is in the same region as Moly Mines Spinefex Ridge resource and early signs are that it could be potentially a larger moly resource. Not a great deal of interest in MOY at present but is well and truly on my watch list. Not sure there is a MOY thread but there was a WTE thread started if anyone wants some info 
Sorry ...... back to MOL!


----------



## Birdster (9 April 2008)

Nuke said:


> ...
> 
> infomine.com is the best and biggest mining datatbase. im not a subscriber but will be very soon. the info they provide is well worth the subscription fee. also, edumine provides online courses on a variety of minining related topics which are very useful
> 
> nuke




So nuke,

if I can ask which subscription you have/will subscribe to? Sooo many options to subscribe to. Is there a benefit to look behind the "golden door" of that site?

I have watched MOL and researched to a moderate capacity. What info would the infomine site have that free sites would lack? That goes for all other specs in this sector. Consolidated information is the only advantage yes?


----------



## michael_selway (10 April 2008)

Nuke said:


> hey YT,
> 
> infomine.com is the best and biggest mining datatbase. im not a subscriber but will be very soon. the info they provide is well worth the subscription fee. also, edumine provides online courses on a variety of minining related topics which are very useful
> 
> nuke




Hi Nukeits not bad, it has up to 15 years historic price charts, kitcometals only has 5!

http://www.infomine.com/commodities

thx

MS


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## YOUNG_TRADER (15 April 2008)

Moly has got EPA approvals for their Spinifex Ridge Moly project

EPA RECOMMENDS SPINIFEX RIDGE MOLYBDENUM PROJECT FOR MINISTERIAL APPROVAL
Moly Mines Limited, (MOL – TSX/ASX) is pleased to advise the Environmental Protection Authority of Western Australia (EPA) have today released their “EPA Bulletin” which contains the EPA’s report and recommendations to the Minister for the Environment on the Spinifex Ridge Molybdenum Project proposal. Section 44 of the Environmental Protection Act 1986 (EPA Act) requires the EPA to report to the Minister for the Environment the outcome of its assessment of a proposal. The report must set out:
• the key environmental factors identified in the course of the assessment; and
• the EPA’s recommendations as to whether or not the proposal may be implemented, and, if the EPA recommends that implementation be allowed, the conditions and procedures to which the implementation should be subject.
The proposal put to the EPA by the Company considers an open pit mining operation and processing facility capable of treating 20 million tonnes of ore per annum. The EPA has concluded that it is unlikely that the EPA’s objectives would be compromised by implementing the Project and have recommended the Project proposal tabled by Moly Mines be approved subject to implementation of certain conditions, all of which are considered by Moly Mines to be reasonable and manageable through the Company’s best practice systems.
The EPA Bulletin is open now for a 2 week public appeal period, and depending on resolution of those appeals, if any, the final ministerial approval process will commence.


----------



## goatpointer (18 May 2008)

RE:  EPA Bulletin
The 2 week public appeal period is now well over. I've seen nothing about progress or otherwise with this.  
How confident can we be that final Ministerial approval will be given?  (And when?)
Goatpointer


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## SM Junkie (3 July 2008)

There does not seem to be much interest in Moly Mines, despite some positive announcements from the company, I wonder why this is?

Recent announcements include:


Hematite iron ore discovered, not sure how much yet.
Signed a 10 year agreement with TKMet for all of the molybdenum
43% increase in the Spinifex Ridge Molybdenum/Copper Project’s Proven and Probable Ore Reserves to 451 million tonnes @ 0.05% Mo and 0.08% Cu
The resource base Ore Reserves likely to extend mine life beyond 30 years .
It is also likely to support an operational expansion to at least 30 million tonnes per annum.

Perhaps once Ministerial approval is granted more interest will occur.  Personally I think Moly are looking good.


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## YOUNG_TRADER (3 July 2008)

SM

I was just looking at MOL (don't hold any as its not my kinda stock) but wow those Fe hits were amazing,

Surprised the mkt hasn't stood up and taken note,

Then again the mkts are ****ed at the moment

But like I said those are some very very impressive Fe hits, very impressive!


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## Schmuckie (24 July 2008)

Moly Mines is continuing to take a hit, even with continued good news that show improved fundamentals for the company.  Most junior resource stocks are taking a hit right now, and MOL is no exception.  For people holding long, is this "steak on sale" or is there any reason to be cautious in buying?  

Many thanks,
Schmuckie


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## YOUNG_TRADER (24 July 2008)

More amazing Fe hits for MOL from surface too so very little if any over burden

And those grades of 60% Fe are DSO!

Problem for MOL is that they are a large Molybdenum mine developer/soon to be producer and hence the Fe while very impressive isn't appreciated by the market,


Does bode very well for the Iron ore prospectivity of the surrounding grounds and these results are to the west of the first results suggesting perhaps continuation of mineralisation to the west?

MPJ 's Talga Peak is directly to the west, something to keep in mind


----------



## AnDy62 (24 July 2008)

Schmuckie, 
I hold a few long term. The main concern is financing, the need to raise a lot of money to get a mine this size up and going,  can't remember the figure off the top of my head, think about a billion. If financing can be done on ok terms then I think MOL is fundamentally undervalued, considering the cash flows they will generate.
YT, 
Just saw your post. You're obviously the guru on these sorts of things, the grades were good I take it. But I've heard it may be expensive to extract because of the silicate levels or something?? Still a good discovery I hope!


----------



## YOUNG_TRADER (24 July 2008)

Hey Andy,

You'll notice that MOL is hitting a mixture of Haematite and Magnetite, similar to what GBG has at its Karra deposit (I think its Karra)

The point is as the Fe grade drops from 60% the impurity levels naturally increase and for Magnetite such high silica grades are not uncommon and are usually easily removed via the benefication process

The main problem for MOL is it is a Molybdenum company and thus such a nice Iron Ore project in the Pilbara type area while very promissing will not really influence MOL's share price or market cap too much, its kinda like when RIO announces another 500Mt's of 62% DSO Fe

I would think the best move for MOL to realise full value in these mkts is spin off the Iron ore rights into a new Iron Ore company and give shareholders a free in specie distribution, this is what companies like GIR have done very succesfully of the years (ie with RHI)

I would suspect that such a free standing Iron Ore IPO company would have a mkt cap of $50m at least and thus more truly reflect the Iron ore project and value

Note I don't hold MOL, but have been watching the Iron Ore story unfold as I hold MPJ directly to the West


----------



## noco (24 July 2008)

AnDy62 said:


> Schmuckie,
> I hold a few long term. The main concern is financing, the need to raise a lot of money to get a mine this size up and going,  can't remember the figure off the top of my head, think about a billion. If financing can be done on ok terms then I think MOL is fundamentally undervalued, considering the cash flows they will generate.
> YT,
> Just saw your post. You're obviously the guru on these sorts of things, the grades were good I take it. But I've heard it may be expensive to extract because of the silicate levels or something?? Still a good discovery I hope!




Yes you are right, the cost to develope the iron ore is probably too much for Molly mines.
Have noted a comment from the CEO Dr. Derek Fisher that "due to the current intensive focus on the Sinifex Ridge Molybdenum project and its financing, an option currently under consideraton for this non-core asset is to invite expressions of interest from third parties to capitalize on the iron potential of the tenements."
Hope this throws some light on your concern.


----------



## michael_selway (25 July 2008)

noco said:


> Yes you are right, the cost to develope the iron ore is probably too much for Molly mines.
> Have noted a comment from the CEO Dr. Derek Fisher that "due to the current intensive focus on the Sinifex Ridge Molybdenum project and its financing, an option currently under consideraton for this non-core asset is to invite expressions of interest from third parties to capitalize on the iron potential of the tenements."
> Hope this throws some light on your concern.




Hi Sounds good

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS -1.6 -1.5 13.0 45.0 
DPS 0.0 0.0 0.0 0.0 *



> Date: 10/7/2008
> Author: Michael Vaughan
> Source: The Australian Financial Review --- Page: 20
> Moly Mines is attempting to raise $A1.4 billion for its Spinifex Ridgemolybdenum project. In July 2008, Moly announced hopes of raising funds for theWestern Australian project, which will be supported by 70% debt and 30% equity,by September, after delays due to the rising cost of debt. Most fund raisingwill be attempted in the final few weeks before the deadline, but with highyields in the current bond market, Moly may need to secure bridging finance tokeep up momentum. ThyssenKrupp and Harbinger Capital have expressed interest inbecoming involved in financing the project




thx

MS


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## resourceboom (28 July 2008)

yes it does sound good, and it will have a very long mine life too! It is something like a minimun of 20 years!


----------



## renim (2 August 2008)

if the fe good enough, twiggy might dig it - road miner style.


disclaimer
i've got some mol, it's been a dog compared to fmg


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## bvbfan (8 August 2008)

Having a ripper of a night on the TSX up 35%

Could funding news be in the offing or perhaps a juicy takeover bid?

I'd lean to the funding but you never know.


----------



## Schmuckie (8 August 2008)

bvbfan said:


> Having a ripper of a night on the TSX up 35%
> 
> Could funding news be in the offing or perhaps a juicy takeover bid?
> 
> I'd lean to the funding but you never know.




Hmmm.  I came here looking for an answer, thinking someone closer to home might know.  Picked up a few more shares last week, but held out on picking up even more while I waited for a slightly lower price.  Maybe I should have just bought more then.


----------



## resourceboom (11 August 2008)

bvbfan said:


> Having a ripper of a night on the TSX up 35%
> 
> Could funding news be in the offing or perhaps a juicy takeover bid?
> 
> I'd lean to the funding but you never know.




yeah mate, ann out today, request for trading halt due to funding announcement due out later today, can't wait, I hold a small amount in my super fund


----------



## AnDy62 (11 August 2008)

The ann came out an hour or so.
Looks like good news.
Interesting to see what will happen to the price.
Good luck holders!


----------



## Wysiwyg (29 August 2008)

I received this pump in the e-mail today. 

*Tiny Aussie Miner Discovers $17.8bn ‘Energy-Metal’ Deposit*

Spinifex Ridge molybdenum-copper project fits the bill as far as being in the Pilbara, market cap. around $185 million and around $2 share price.

Anyone agree that the "Energy Metal" is molybdenum and the company is MOL?


----------



## Santoro (29 August 2008)

Wysiwyg said:


> I received this pump in the e-mail today.
> 
> *Tiny Aussie Miner Discovers $17.8bn ‘Energy-Metal’ Deposit*
> 
> ...




Agree wysiwig...same quoted melting point....same 43% resource increase....worth buying?? At these levels maybe worth getting a smallish position to build on just in case it does start to rise? Who knows?


----------



## bvbfan (29 August 2008)

Moly would be a major energy play.
Both for oil/gas infrastructure in pipelines as well as drilling equipment.

Also moly used widely in nuclear reactors.

http://www.stockinterview.com/molybdenum.html
http://www.molyinvestingnews.com
http://www.resourceinvestor.com

Have some good articles on Moly


----------



## jackjones (14 September 2008)

I see Mol is in a downtrend but sitting on 1.7 support for the third time. Could be an interesting test. I'll probably buy some if it holds.


----------



## Schmuckie (18 September 2008)

This update on financing released in Canada during Wednesday trading (overnight for those of you in Australia).

http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=7051108


----------



## mino (1 October 2008)

Anyone know what happens with this stock?

They have got the interim financing approved but the stock still dives in day by day for the past week or so now...  

Is it just because of the metals outlook? Any supporting charts for this would be great


----------



## Glen48 (1 October 2008)

The word is it getting smashed but hold on it should come good over time.
Think I read that in Diggers and drillers been looking at it myself.


----------



## jackjones (1 October 2008)

Yep well the next stop is $1 if not there then .50c is the bottom of the long term down trend. 

I ended up with some at 1.14 today so it looks like i'm in the for the long haul. Hopefully the pieces come together.


----------



## Wysiwyg (1 October 2008)

Glen48 said:


> The word is it getting smashed but hold on it should come good over time.
> Think I read that in Diggers and drillers been looking at it myself.




The article by Al Robinson (son of robin hood maybe ) at around $2 and at the end he says and I quote.



> P.S. With its massive natural resource endowments and a distinct geographical advantage over its South American competitors, *the Australian resource sector is set to boom as long as China does*. Savvy investors will be looking for ways to profit from this.
> 
> No newsletter on the planet is best positioned to help you do this. To try Diggers and Drillers risk-free for three months, click on the link below.
> 
> P.P.S. Stop Press! The ‘Energy Metal’ company I want to tell you about has just signed a 10-year off-take agreement with ThyssenKrupp. ‘Energy Metal’ concentrates from the mine will be shipped to a plant in Chile for conversion. *This is another step towards full-scale production... and another reason to own this stock IMMEDIATELY*.





Someone tell him we`re in a bear market.


----------



## frankblack (2 October 2008)

What happened today? It is now over 35% lower then any other time in the last 12 months. And it has been as high as $5! And on the back of no news! Posite P/E. Postive outlook. And down 22% today on the back of nothing! What gives?

Disc: I don't hold MOL.


----------



## J.B.Nimble (2 October 2008)

frankblack said:


> What happened today? It is now over 35% lower then any other time in the last 12 months. And it has been as high as $5! And on the back of no news! Posite P/E. Postive outlook. And down 22% today on the back of nothing! What gives?
> 
> Disc: I don't hold MOL.




A massive resource, a good looking DFS, and a 10 year off take deal all sounds wonderful but the 1071millAUD capex requirement sounds like an impossible dream. I would worry about them starting to move on the strength of the 150mill USD interim finance package with no certainty of being able to fund the job... warning bells...


----------



## jman2007 (4 October 2008)

J.B.Nimble said:


> A massive resource, a good looking DFS, and a 10 year off take deal all sounds wonderful but the 1071millAUD capex requirement sounds like an impossible dream. I would worry about them starting to move on the strength of the 150mill USD interim finance package with no certainty of being able to fund the job... warning bells...




I think you've pretty much hit on the crux of the matter here Nimble. Having most of your boxes ticked off is great i.e. positive DFS, robust Resource figures etc, but you also need a tick in the biggest box of all, funding. You would have to think that TCW wouldn't have contributed to the kitty without some kind of reasonable expectation of getting a good return from MOL however, but it all looks a little scary right now.

jman 
DNH


----------



## Santoro (4 October 2008)

jman2007 said:


> I think you've pretty much hit on the crux of the matter here Nimble. Having most of your boxes ticked off is great i.e. positive DFS, robust Resource figures etc, but you also need a tick in the biggest box of all, funding. You would have to think that TCW wouldn't have contributed to the kitty without some kind of reasonable expectation of getting a good return from MOL however, but it all looks a little scary right now.
> 
> jman
> DNH




True...seems odd that considering the scale of the project that TCW would finance 150 mil without concern to future funding, in the offtake agreement TKMet agreed to particiapte in the equity financing component....guess depends what position these co's are in and the demand for Moly at the time.

small holding....was smallish but now small


----------



## noco (5 October 2008)

bvbfan said:


> Moly would be a major energy play.
> Both for oil/gas infrastructure in pipelines as well as drilling equipment.
> 
> Also moly used widely in nuclear reactors.
> ...




What an interesting link bvbfan, especially the article on how to select a good moly mine.

James Finch is stating a good mine should be in the order of .1% -.2% from an open cut mine at a base cost of 10 pound sterling to produce.

Moly Mines have 24 million pounds of MOS2 at .05% per tonne, plus 27 million pounds of CU. Based on 34 pounds sterling ($80) per pound for   MOS2,   this would equate to $1.8 billion, plus the returns from the CU.

The initial financing from The Trust Company of the West to the tune of $150,000,000 is to kick start the operation. A total Cap Ex of $1.1 billion will be required over 7 years and would no doubt be financed from sales prior to that time period.

IMHO it looks good on paper. However, I cannot understand why the SP of these shares has diminished to  the level of $0.905 last Friday. This share has been as high as $5.00.

In comparison, Thor Mining PLC has 2.21 million tonnes of  MOS2 at .21% per tonne.


----------



## noco (5 October 2008)

Santoro said:


> True...seems odd that considering the scale of the project that TCW would finance 150 mil without concern to future funding, in the offtake agreement TKMet agreed to particiapte in the equity financing component....guess depends what position these co's are in and the demand for Moly at the time.
> 
> small holding....was smallish but now small




Moly Mines have signed a 10 year off-take agreement with TKMET of Germany for all of the molybdenum production from Spinifex Ridge moly project, priced on the prevailing market price and conditions at the time of sale.

This agreement is the key-stone to the project financing with TCW whom imho would not commit themselves to $150,000,000 if ther was some doubt to Moly Mines success.


----------



## Wysiwyg (5 October 2008)

noco said:


> *Moly Mines have 24 million pounds of MOS2 at .05% per tonne*, plus 27 million pounds of CU.
> In comparison, *Thor Mining PLC has 2.21 million tonnes of  MOS2 at .21% per **tonne*.




Thor therefore has 4 872 215 994.3 pounds (almost 5 billion pounds)

You obviously meant  pounds for Thor.


----------



## J.B.Nimble (5 October 2008)

noco said:


> The initial financing from The Trust Company of the West to the tune of $150,000,000 is to kick start the operation. A total Cap Ex of $1.1 billion will be required over 7 years and would no doubt be financed from sales prior to that time period.
> 
> IMHO it looks good on paper. However, I cannot understand why the SP of these shares has diminished to  the level of $0.905 last Friday. This share has been as high as $5.00.





You might be confusing the mining contract with the Capex. The mining contract with McMahon is A$1.1bill over 7 years (ann Feb15). The Capex is estimated in the DFS as A$1071mill including sustaining capital of 53 million over the first ten years of operation.

The annual report indicates they already have project commitments of A$191mill. Long lead time equipment was preordered to keep the project on the fast track - the horse has well and truly bolted... Along comes the credit crunch. They have A$48.6 mill cash and equivalents vs payables of A$32.4mill. And now they have US$150mill debt financing coming in. A long way to go to get to A$1071 mill. TKMet will chip in but it still looks a very tough ask in this climate, off take agreement or not.


----------



## noco (5 October 2008)

Wysiwyg said:


> Thor therefore has 4 872 215 994.3 pounds (almost 5 billion pounds)
> 
> You obviously meant  pounds for Thor.




Sorry if I misled you Wysiwyg. Thor has 2.21 millions tonnes with a grade of 0.21% MOS2.

Their mining reserve contains 4.8 million pounds of molybdenum. This information is from their latest review of operations.

Trust clarifies your query.


----------



## noco (5 October 2008)

Wysiwyg said:


> Thor therefore has 4 872 215 994.3 pounds (almost 5 billion pounds)
> 
> You obviously meant  pounds for Thor.




Sorry if I misled you Wysiwyg. Thor has 2.21 millions tonnes with a grade of 0.21% MOS2.

Their mining reserve contains 4.8 million pounds of molybdenum. This information is from their latest review of operations.

Trust this clarifies your query.


----------



## Santoro (8 October 2008)

Santos has secured a new gas supply contract with Moly Mines that could earn it as much as $US380 million ($A534.45 million) in revenue.

Well doesn't look like their is much stopping these guys pushing ahead.....even though the SP has tanked......admittedly things could be quite different in six months....but which way...better or worse??


----------



## Wysiwyg (8 October 2008)

Santoro said:


> Santos has secured a new gas supply contract with Moly Mines that could earn it as much as $US380 million ($A534.45 million) in revenue.
> 
> Well doesn't look like their is much stopping these guys pushing ahead.....even though the SP has tanked......admittedly things could be quite different in six months....but which way...better or worse??





Thanks for the info........................ Coordinates locked in and awaiting further indications.

And money ...


----------



## jman2007 (9 October 2008)

Santoro said:


> Well doesn't look like their is much stopping these guys pushing ahead.....even though the SP has tanked.....




No no, nothing at all, the thousand odd million capex they need is a mere pittance. Looks like a no-brainer.

jman


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## noco (16 October 2008)

For weeks now, Diggers and Drillers have been ramping up how good Moly Mines are and how 300% capitol gain can be made from  a low SP, even as late as Monday this week.

Then out of the blue on Tuesday, Diggers and Drillers said sell today.

I E-Mailed Diggers and Drillers on Tuesday for a "please explain" and to date they have not replied.

I phoned Moly Mines direct today and spoke to the company secretary, Mr. Andrew Wallin, who said firstly he had not heard of Diggers and Drillers and secondly he assured me the company was sound and proceeding to develope the mine as planned with further finance in the pipeline. He stated MOS2 was holding its price of 30 pounds sterling per pound weight on the LME, slightly down from 34 pounds sterling a month ago. Nevertheless, MOS2 has not followed the trend of other commodities.

How confident are other share holders?


----------



## richardgaaren (16 October 2008)

I'm somewhat disappointed with the team at Diggers and Drillers as well.

Firstly: I have emailed them questioning details about the quality of what Moly will dig out of the ground and like yourself, have had no reply.  

Secondly: Up until the day they advised subscribers to 'sell out' of Moly Mines, they were promoting the company on their 'Daily Reckoning' email.

Thirdly: Their strong promotion of companies in Diggers and Drillers (of which I'm a subscriber) seems to be at odds with the general pessimistic tone of The Daily Reckoning, ie: one website is promoting the fact that things are due to fall apart while the other recommends 'a Buy' on a list of companies, which have mostly suffered over the past few weeks.

If the 'action to take' recommended by 'Diggers and Drillers' was 'no action' at all, then this would certainly be worth the $149 annual subscription rate and would be far more consistant with what these guys seem to really believe.

I still hold shares in Moly Mines. Why sell them for almost nothing as "D & D's' recommended? Would I resubscribe next year to Diggers and Drillers? I  really don't know.


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## treefrog (16 October 2008)

richardgaaren said:


> Secondly: Up until the day they advised subscribers to 'sell out' of Moly Mines, they were promoting the company on their 'Daily Reckoning' email.
> 
> Thirdly: Their strong promotion of companies in Diggers and Drillers (of which I'm a subscriber) seems to be at odds with the general pessimistic tone of The Daily Reckoning, ie: one website is promoting the fact that things are due to fall apart while the other recommends 'a Buy' on a list of companies, which have mostly suffered over the past few weeks..




to be fair rg - I received a pre-emptive email warning they may have to reconsider their hold recco after the canadian listing where at least one large holder bailed and they pointed to possible finance doubts as possible reason - a couple fo days later they confirmed the sell so that seems reasonable to me

agree the disparity between D&D and TDR is perplexing


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## stevegw62 (19 October 2008)

Does any one know what this means to Share price and future development of Moly Mines

"*Cancellation of 330,000 Employee Options " *

This is one of the latest headlines in a Stockbroking web site I subscribe to, but when I try and read the Pdf on it from this site, it doesnt allow me to open it for some reason. Technology, you cant beat it.


----------



## Wysiwyg (20 October 2008)

stevegw62 said:


> Does any one know what this means to Share price and future development of Moly Mines
> 
> "*Cancellation of 330,000 Employee Options " *





Well today it means a drop of 15% while the XAO is up.Makes me wonder where the $5 + valuation (oops share price) come from.


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## treefrog (23 October 2008)

stevegw62 said:


> Does any one know what this means to Share price and future development of Moly Mines
> 
> "*Cancellation of 330,000 Employee Options " *
> 
> This is one of the latest headlines in a Stockbroking web site I subscribe to, but when I try and read the Pdf on it from this site, it doesnt allow me to open it for some reason. Technology, you cant beat it.




hi steve
it means, in this instance, the option afforded to employees to convert the options to full shares won't happen - better for holders of full shares as the shares they hold will not be diluted by the addition of 330,000 "cheap" shares.
a little bit of downside for the co. is that it won't get the cash the employees would need to pay in to convert.


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## Santoro (24 October 2008)

with moly prices holding steady at 33 USD/pound and the  AUD dropping 30% where does it leave moly mines? 

If financing is successful where will this end up, no pun intended. 

Correct, 'if' is not definite.


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## jackjones (30 October 2008)

Price at '04 levels but the project still sounds good. I'm still holding and doubling up 

I saw the sell off from Harbringer Capital in the past month. Perhaps thats half the reason? Anyone know what that is about?


----------



## Goldmann (30 October 2008)

Part of a general unload on small caps... Plus, things werent looking good....

but i too have now doubled up on this good piece of news (financing confirmed) - they would want to hope this recession is history by Mid 2009 or its trouble ahead


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## richardgaaren (30 October 2008)

treefrog said:


> to be fair rg - I received a pre-emptive email warning they may have to reconsider their hold recco after the canadian listing where at least one large holder bailed and they pointed to possible finance doubts as possible reason - a couple fo days later they confirmed the sell so that seems reasonable to me
> 
> agree the disparity between D&D and TDR is perplexing




Good point tf.  I received the pre emptive email too. I guess my major qualm with DR is as I said, the inconsistencies between D & D recommendations and the overall negative tone of the Daily Reckoning.

But something that I find even more perplexing is 'Daily Reckonings' latest endorsement of Moly Mines.

If you check out today or yesterdays 'Daily Reckoning', scroll down to 'Pilbara Profit Secret'. Click on it then scroll down about a third of the page and there it is, that familiar picture of a chunk of Moly. A different company? Well the one they're hinting at has a $185 million market cap and could rise 400% in the next 12 months. It is listed as a risky, speculative play but in their opinion, one worth taking.

Interesting because a couple of weeks ago, it was one to drop 'urgently'. My latest edition of D & G doesn't mention anything about Moly Mines but it seems that the potential it holds is good enough to encourage people to subscribe to Diggers and Drillers.

Curious anyway. I'm still holding anyway and something think that they'll scratch their way through bit by bit (my opinion only).


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## Goldmann (6 November 2008)

Strange happenings today... Market hammered and nearly all miners down, yet Moly holding up and actually lifting 10% early?  Any idea? People satisfied the Harbinger sell of is complete?


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## CityMiner (8 November 2008)

Look at www.infomine.com and check out molyb price - big drops in last few weeks. From about $US36/lb in late Oct/08 to about $US15/lb now.

Never have understood why - maybe someone can help, Molyb price moves in very large and very very infrequent steps.


----------



## Miner (8 November 2008)

CityMiner said:


> Look at www.infomine.com and check out molyb price - big drops in last few weeks. From about $US36/lb in late Oct/08 to about $US15/lb now.
> 
> Never have understood why - maybe someone can help, Molyb price moves in very large and very very infrequent steps.




City Miner

It is not very difficult
Just see where Moly is used. Most of the times with iron and steel to produce high quality steel just like Vanadium, Chromium.

Primarily these alloy metals are for automotive industry, all kinds of IC engine Crankshafts in vehicles, DG sets, ship, weapons. turbine blades etc. 

Now if iron ore is falling because of lack of steel demand, and steel is falling because of poor economy (and lack of significant war - not joking that is the fact of bloody economy turnaround )  you will get a straight correlation why Moly falling

Cheers


----------



## Garpal Gumnut (8 November 2008)

I'm looking at MAH which is a contractor for MOL.

Can anyone give me a 18mo to 2 year projection for MOL.

Many thanks 

gg


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## Wysiwyg (12 November 2008)

Don`t know Garp.

Still watching MOL slip down further as world market situation and future share dilution eats away at investor confidence.Harbingers officially reduced holdings and the 20 c share price range is nearing.

Does anyone know how much dilution of share numbers there will be if all warrants were exercised.I don`t understand how this works.



> Upon the issue of Notes under the second tranche, MOL is obliged to issue Warrants to the Note subscribers *equaling 15% of the fully diluted issued capital of MOL *(on a post Warrant issue basis) at that date. The Warrants have a 10 year maturity and are exercisable into 1 new ordinary share in MOL for each Warrant held at an exercise price of $0.0001. The Notes are due for repayment in 12 months from the draw down of the second tranche.




There is also the 980 million dollars required to complete the project so this deal has a long way to go.I suppose the future dilution is being factored in now.

Chart showing fall from $4.60 with bottom not yet visible.


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## J.B.Nimble (13 November 2008)

Well this news should not have been unexpected. Moly, being largely contract traded, is a bit slower to react to a downturn but it cannot defy gravity...



> NEW YORK, Nov 10 (Reuters) - Freeport-McMoRan Copper & Gold Inc said on Monday it would cut molybdenum production and may cut output of copper due to weak demand and prices, but its shares rose after China announced a huge stimulus package.
> Prices for base metals like copper and minor metals including molybdenum have collapsed in recent weeks on mounting concerns about the health of the world economy.
> However, prices for copper and other metals rallied Monday after China announced a $586 billion economic stimulus plan, helping to push up Freeport's shares by as much as 11 percent.
> Freeport, the world's biggest publicly traded copper producer, said it was preparing revised plans at each of its copper operations to reduce costs and capital spending.
> ...



http://www.guardian.co.uk/business/feedarticle/8008351

So where does this leave MOL. A couple of hundred million dollars of capex committed, and an interim finance package that leaves them a long way short of being able to produce - not a pretty picture. And now the market is signalling that there just isn't a need for their moly right now. Hard to see them raising the remaining funds in the near term. 

It doesn't look good for holders right now. Perhaps the best hope is that they might be taken out in a takeover. This has to be an atractive target for one of the bigger players...


----------



## jman2007 (13 November 2008)

J.B.Nimble said:


> It doesn't look good for holders right now. Perhaps the best hope is that they might be taken out in a takeover. This has to be an atractive target for one of the bigger players...




Why do a lot people assume that because a stock has become cheap that it automatically rates as a takeover target?...what would make MOL attractive to anyone right now? 

Trust me, the toe-cutters are coming out of the woodwork in a lot of companies, everyone is looking at reducing costs and getting rid of unecessary overheads. Takeovers are the last thing on their minds right now.

jman


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## noco (13 November 2008)

jman2007 said:


> Why do a lot people assume that because a stock has become cheap that it automatically rates as a takeover target?...what would make MOL attractive to anyone right now?
> 
> Trust me, the toe-cutters are coming out of the woodwork in a lot of companies, everyone is looking at reducing costs and getting rid of unecessary overheads. Takeovers are the last thing on their minds right now.
> 
> jman



On researching info from Moly Mines annual report, production will not commence until July 2010, so by then the price of Molybdenum may be quite different from today.
Refer to page 12 of their reportroduct Offtake Arrangements
In June 2008, the Company completed a 10 year Offtake Agreement
with ThyssenKrupp Metallurgie GmbH (“TKMet”) of Germany for all of
the molybdenum production from the Project. TKMet will take delivery
and purchase 100% of Moly Metals Australia’s interest (currently
100%) in molybdenum product from Spinifex Ridge as oxide and ferromoly
after it has been toll processed under the Company’s Tolling
Agreement with strategic alliance partner, the Chilean metallurgical
group Molymet.
Pricing will be determined with reference to the prevailing market
prices and conditions at the time of sale, therefore maintaining full
exposure to molybdenum price.
IMHO this enough for me to hang in to July 2010.


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## jman2007 (13 November 2008)

noco said:


> On researching info from Moly Mines annual report, production will not commence until July 2010, so by then the price of Molybdenum may be quite different from today. IMHO this enough for me to hang in to July 2010.




Looks like Harbinger have thrown in the towel in this one, and the MOL price has collapsed again since the recent Quaterly. Perhaps the best option for the time being is to reduce the rate of work at Spinifex Ridge, to a crawl and just maintain a skeleton crew. I'm sure under normal economic/supply and demand conditions this project would be a goer, but unfortunately miners do not have the flexibility to adjust their gameplan at such short notice.

2010 is a long way off, I don't think anyone has the foresight to predict what supply-demand will be like by then.

jman


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## Goldmann (18 November 2008)

Well Jman... looks like another molyb small cap has heeded your advice, but instead of scaling back they suspending operations:

"Queensland Ores Ltd has suspended operations at its troubled Wolfram Camp tungsten and molybdenum mine and is pursuing funding options amid the global financial crisis.

The company said operations had been suspended to conserve cash while some mining and metallurgical issues are addressed amid a downturn in molybdenum prices and financial markets.

Queensland Ores warned last month that its cash reserves could be exhausted by January 2009."

That 150 M finance option MOL took was a godsend!


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## CityMiner (18 November 2008)

With current liabilities minus current assets at $36.8M, reduced ore price and $101.7M commitment within 1 year situation looks bad for Moly.


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## jman2007 (18 November 2008)

Goldmann said:


> Well Jman... looks like another molyb small cap has heeded your advice, but instead of scaling back they suspending operations:
> 
> "Queensland Ores Ltd has suspended operations at its troubled Wolfram Camp tungsten and molybdenum mine and is pursuing funding options amid the global financial crisis.
> 
> The company said operations had been suspended to conserve cash while some mining and metallurgical issues are addressed amid a downturn in molybdenum prices and financial markets."




Hi Goldmann

Well I don't really take much pleasure in seeing these kind of predictions come true, numerous issues with the aforementioned QOL that had me concerned some time ago. And of course, the fact that I'm a QOL shareholder 

Anyway, I'm not 100% sure on the exact financial situation that MOL are in (eg. how much debt do they have?), but moly clearly not the metal of choice atm. The moly price crash was rather spectacular, not a slow steady decline as with some of the base metals, but more akin to someone turning off the light switch. 

jman


----------



## Goldmann (7 January 2009)

Been a quiet few plodding months for this one, but the last two weeks have seen some action - highlighted by a 26% jump today??? WTF?

any explanations? did Molyb prices just boom again??? weird.


----------



## noco (8 January 2009)

Goldmann said:


> Been a quiet few plodding months for this one, but the last two weeks have seen some action - highlighted by a 26% jump today??? WTF?
> 
> any explanations? did Molyb prices just boom again??? weird.




Goldman, the only news I have detected is the expiration of some 3,235,000 employee options.

To the best of my knwoledge, Moly is still on track for production July 2010.
Let's hope the price has risen by then.
 Noco.


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## J.B.Nimble (9 January 2009)

The BFS shows them as profitable at current moly prices but that is hardly the point. The key issue remains the not too trivial matter of raising the several hundred million dollars required to complete the Spinifex Ridge development. The sp was getting in to the territory of "priced to fail" but has since picked up significantly. Make no mistake, this is extremely high risk, and at anything above "priced to fail", the potential reward may not justify the risk...


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## Sean K (2 June 2009)

Might be worth putting this on the watch list for a potential breakout when it's closer to the 50c mark. Looks very bottomish at 25c at the moment, and increased volume the past 2 months has been in line with a lift off that bottom and finding further support around the 35c mark.


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## happytown (4 June 2009)

ann out his morning regarding maiden resource estimate for spinifex ridge

7.3M t @ 59% Fe

including  6.1M t indicated, 1.2M t inferred

discussions continue with principal lender re potential restructure of mol's debt obligations (us$150M maturing 31/10/09)

sp currently unchanged @.425, nil volume

cheers


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## SM Junkie (5 August 2009)

Moly Mines is so unloved on this forum.  But they have had two very amazing days, up over 20% yesterday and then nearly 42% before going into a trading halt.  Must be some very big announcement that someone must have know about for this type of price action.


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## motion (5 August 2009)

It has and I hold MOL & ARV.. ARV got lots of action today considering it's right on the door step to MOL... interesting times for both...


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## tkwaku (6 August 2009)

motion said:


> It has and I hold MOL & ARV.. ARV got lots of action today considering it's right on the door step to MOL... interesting times for both...




I have some. Mol sp retreating fast. So I sold to take some profit, today! I've just joined this forum and still getting used to it. I like it so far.


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## SM Junkie (6 August 2009)

Welcome to the forum TKWAKU - some really great knowledgeable people in here, so I'm sure you will enjoy your time and gain from their experience.  My advice is to grow some thick skin (you may need it at times) and be careful not to act on the opinions on the forum without doing your own research. I'm sure you wil enjoy it.

So nothing really new from Moly, very interesting to know what drove the price increase.  I really hope the pull it together and get this mine up and going, the resources are really good.


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## noco (7 August 2009)

SM Junkie said:


> Welcome to the forum TKWAKU - some really great knowledgeable people in here, so I'm sure you will enjoy your time and gain from their experience.  My advice is to grow some thick skin (you may need it at times) and be careful not to act on the opinions on the forum without doing your own research. I'm sure you wil enjoy it.
> 
> So nothing really new from Moly, very interesting to know what drove the price increase.  I really hope the pull it together and get this mine up and going, the resources are really good.




Molybdnum price has risen 100% in the last couple of months, from a low of US$8.00 per pound to US$17.00 per pound. Still way short of US$36.00 per pound a year ago. The price is expected to rise further as is the case with  all  other commodities.

On top of that good news, the special machinery required to process Molybdenum which Moly Mines have had on order from Germany since the begining of 2008 has just arrived in Australia. I  believe Moly Mines are still on track to start producing July 2010.

Whilst Molybdenum has many uses, this metal will be great demand again and will be required  in deep oil wells to counter sulpher.

Most of this information has been derived from Comsec.


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## boronia (20 October 2009)

This announcement today looks like a significant step fwd in getting the 10 MTPA Mo operation under way - subject to independant assessment of course


Moly Mines CEO Dr Derek Fisher said “This Agreement represents a wonderful
opportunity for Moly Mines to clear the Company’s existing debt and build the Spinifex
Ridge Molybdenum/Copper Project significantly ahead of the point at which funding
from the traditional debt and equity markets becomes available. The Agreement will
deliver shareholders the value benefits of a substantial funding package and a major
project partner with a strong balance sheet, diversified operations and mining interests.
The Company could be in the envious position of having constructed the
molybdenum/copper mine at the beginning of the next metals cycle, benefitting from
higher metal prices in the mine’s early production years.”


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## Wysiwyg (17 January 2010)

Wysiwyg said:


> Don`t know Garp.
> 
> Still watching MOL slip down further as world market situation and future share dilution eats away at investor confidence.Harbingers officially reduced holdings and the 20 c share price range is nearing.
> 
> ...




The ball is well and truly rolling now with I/O production planned from mid 2010. Financial muscle from the Chinese (no Australian's stepped up ) ensures the Mo project will materialise in combination with the direct shipped I/O. Plenty of growth in MOL one would think if all goes to plan.

19 cent low was a steal.


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## noco (17 January 2010)

Wysiwyg said:


> The ball is well and truly rolling now with I/O production planned from mid 2010. Financial muscle from the Chinese (no Australian's stepped up ) ensures the Mo project will materialise in combination with the direct shipped I/O. Plenty of growth in MOL one would think if all goes to plan.
> 
> 19 cent low was a steal.




Wysiwyg, you are correct with planned production mid 2010 as per my post #157 07/08/09.

Sichuan Hanlong Group through its Australian subsiduary, Hanlong Mining Investment Pty has a US$200 million  controlling interest in Moly Mines and I believe will cover a debt of some US$500 million to bring the Spinerfex Ridge iron ore project on line in the first half of 2010.

Molybdenum hit $36 per pound in April 2008. It dropped to $19.5  Aug 2009 and again to a low of $11 1st Dec 2009. Since then it has risen to $15.5 last Friday. I believe their production costs are around $8 per pound.

Moly Mines shares sold for $3.70 back in 2007.

 IMHO, Moly Mines is in for  an exciting year ahead.


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## Wysiwyg (17 January 2010)

noco said:


> IMHO, Moly Mines is in for  an exciting year ahead.




With the I/O operation they state an OPEX of $46/t to the ship via road transport and contracted mining. Contract labour and road transport is very expensive but $46 is the number they state. 

However the Mo project portrays another serious establishment in the Pilbara region in its infancy. The Chinese move indicates a certain future demand for Mo/Cu with such a sizable project to be undertaken.


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## Speculator (10 February 2010)

*This taken from thier quarterly*

...............

Quarter Highlights

Hanlong Mining Investment

● Hanlong to acquire majority control of MOL through US$200 million equity/debt investment

Hanlong to procure US$500 million project finance loan facility by 30 June 2010 for Spinifex Ridge Molybdenum Project.

● FIRB and Moly Mines shareholder approval received.

● PRC National Development and Reform Commission and Ministry of Commerce approvals received.

● PRC State Administration of Foreign Exchange approval is in progress.

● Negotiations ongoing to extend the 31 January cut‐off date for the satisfaction of remaining SAFE condition precedent.

...............

*Ann on the first of Feb*

...............

As advised in previous announcements by Moly Mines Limited (ASX/TSX: 
MOL), the State Administration of Foreign Exchange (SAFE) approval for Hanlong Mining Investment Pty Ltd’s (Hanlong) investment in Moly Mines has been delayed. 

SAFE approval is the final of the three People’s Republic of China approvalsrequired by Hanlong to complete the Hanlong Subscription Agreement.

Hanlong and Moly Mines are attempting to resolve likely timing for this approval process and finalize an extension to the conditions precedent deadline within the Subscription Agreement. Moly Mines will advise the market when a revised date has been determined.

.................

*Now this from David Sullivan in 2004  *

.................

(The CEO of Trade Finance Corporation Ltd in Hong Kong. Taken from: http://www.tfreview.com/xq/asp/sid...._from_Hong_Kong_David_Sullivan/qx/display.htm). 

A Chinese company needs Safe approval if it borrows foreign currency from a foreign bank (inside and outside of China) or if it receives funds from a company offshore. An exception used to be a “pre payment” as opposed to a loan, but in view of abuses, regulations are now being tightened. 

For every request for Safe approval there is currently a less than 50% chance of approval. For amounts below $30m approval stays within the province. Safe registration as opposed to approval can be done at city level. All Safe offices are given a quota for each year with emphasis on certain industries each year. Safe will not approve a transaction for an entity whose financials are showing losses. Often it is the legal person’s connections with his provincial Safe that is the key.

...................

After doing some research, China has addmitedly significantly reajusted SAFE regulations. These adjustments are sumarized in  Benedict Tai and Jessie Tang's article found on the Mondaq website:

'In conclusion, Chinese government has changed its long-term stringent foreign currency control policy to facilitate overseas expansions by Chinese companies. Following such policy change, outbound merger and acquisition activities by Chinese companies are likely to increase exponentially.'
  (http://www.mondaq.com/article.asp?articleid=84736).



My concern however remains why the 'delay'?


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## rabbit59 (18 February 2010)

Speculator said:


> My concern however remains why the 'delay'?




My concerns also speculator...does anybody have any information on this? 

DISC: i am a long term holder of MOL


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## larrikin (7 March 2010)

Does anyone know if the Hanlong deal goes through, will the share float increase another 200 million shares?


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## SM Junkie (23 September 2010)

Great news coming out for Moly Mines today. We are looking down the barrel of a new working mine.


Major contracts in place for camp facilities, mining, crushing, and haulage.
Utah Port in operation.
First shippment scheduled for December looks promising.
Just waiting on Hanlong (majority shareholder) to finalise financing.

Iron ore in just the tip of this iceberg and will pay for the start up costs, but it's all about the Molybdenum for this company.


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## SM Junkie (1 December 2010)

The time has come, Moly Mines is up and running.

Announcement today.

Moly Mines Limited (ASX/TSX: MOL) is pleased to announce that it has commenced iron ore production at Spinifex Ridge, 50km northeast of Marble Bar in the Pilbara of Western Australia.

Commissioning of the crushing and screening processing plant has been successfully completed and commercial production is now underway (refer photo attached). The plant is operating on one shift per day and ramping-up to the designed through-put rate of 3,000 tonnes per day, equivalent to 1 million tonnes per annum.

Trucking of iron ore product into Port Hedland has also commenced with approximately 5,000 tonnes of material already transported into the Utah Point port facility.


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## adobee (1 December 2010)

WOW I can believe i held this up to $7 at one stage !!
Maybe time to take another look at it..


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## adobee (9 December 2010)

I think MOL is looking pretty good now with production ramping up shortly... once some cash starts rolling the share price will too.. this is now a producer... this is a real milestone and is what will make a big difference if there is another WFC between the companies that survive and the companies which are just wiped away..
Taking postion at $1.10  ...


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## rabbit59 (9 December 2010)

adobee said:


> I think MOL is looking pretty good now with production ramping up shortly... once some cash starts rolling the share price will too.. this is now a producer... this is a real milestone and is what will make a big difference if there is another WFC between the companies that survive and the companies which are just wiped away..
> Taking postion at $1.10  ...




I would have to agree, and as in your last post, $7! I jumped in last week when it fell back under $1, should be a good ride  now, only a matter of time...


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## xenith69 (22 December 2010)

rabbit59 said:


> I would have to agree, and as in your last post, $7! I jumped in last week when it fell back under $1, should be a good ride  now, only a matter of time...




I got in today with a small parcel!


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## SM Junkie (31 December 2010)

Moly's first shipment left last night, sold to Hanlong Metals. Lovely little jump in price today closing 12c higher.  Now they can start to pay down their start up debt and look foward to a good 2011 for this company.

Very nice way to end the year.


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## adobee (4 January 2011)

2011 is looking very promising..  and off to a fantastic start...
I think this will get a substantial re-rating as more cashflow comes through and appears on the balance sheets..


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## Wysiwyg (13 February 2012)

adobee said:


> 2011 is looking very promising..  and off to a fantastic start...
> I think this will get a substantial re-rating as more cashflow comes through and appears on the balance sheets..



 Mothballed the Molybdenum project, around break even with the iron ore business, iron ore prices trending down. Share price reflecting bitter disappointment now.


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