GGY - Glengarry Resources

[Epsilon]

GGY....Glengarry Resources.....
The Molybdenum results (9 pounds per tonne Metal) are exceptionally good!
At a price of $30 per pound at present, Molybdenum is just as precious as Uranium after the recent huge increase in price (from $10 to $30 per pound).
Can you imagine a similar Uranium discovery (9 pounds U3O8 per tonne)?
Such discovery would have sent the Share Price ballistic! Over a $1 easily!!!
And I am not taking into account the very good copper results......
Of-course the Uranium drilling programme continues......
GGY, should, by the Molybdenum results alone, be much....much higher.......And it will be. When the Market wakes up to it!
Cheers)

 

[Fleeta]

Re: GGY.....Excellent Molybdenum results!

Sounds good - but is there a market for this product and will they be able to produce profitably? When will this happen? It's all very well to be sitting on some good rocks, but can they get them out of the ground and sell them at a price above the cost.

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

Fleeta, your observations are valid and to the point.
However, the very same questions apply to all exploration companies, more so at the start of an exploration programme and especially and a subsequent discovery.....Therefore, answers to your questions, maybe be a bit premature))
Cheers!!!

 

[Fleeta]

Re: GGY.....Excellent Molybdenum results!

Thanks for the response.

I don't know anything about this metal, Molybdenum, what's it used in? Who else is mining it?

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

A quick Google search will acquaint you well with the nature of this "mysterious" (hahahaha ..only joking) metal......China (like everything else...) are using it extensively....In some instances, Molybdenum, which is used mainly as an alloy is found with Tungsten, another rare and "mysterious" metal.....
Cheers...And have a pleasant afternoon)

 

[bvbfan]

Re: GGY.....Excellent Molybdenum results!

Interesting article on Molybdenum http://www.kitcometals.com/commentaries/Reser/sep122005.html

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

"Interesting article on Molybdenum http://www.kitcometals.com/commenta.../sep122005.html"

Thanks BVB......Very educationally interesting an article re: Molybdenum....
Thanks again mate)
Cheers!!!!!!!!

 

[mime]

Re: GGY.....Excellent Molybdenum results!

Is it a rare or common metal? I'll be honest, I've never heard of it. Is it a new discovery?

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

Is it a rare or common metal? I'll be honest, I've never heard of it. Is it a new discovery?

Mime.....It's supposed to be rare...It's a metalic element with atomic # 42.
The name derives from the Greek word for LEAD "Molybdos" ....
And no..It's not a new metal discovery......No new metals have been discovered for MANY YEARS...
Cheers......Sleep well))

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

Looks like GGY is coming back with a vengeance.......
Uranium results next week?????????????????????

 

[ihavenoname]

Re: GGY.....Excellent Molybdenum results!

Molybdenum is a great corrosion inhibitor used in many industrial chemical applications. Unfortunately, the 4-5x price increase in raw materials over the past 18 months has meant it is now too expensive to be cost effective. We have been reducing it's concentration in our products for a while as a result. I'd be curious if demand for molybdenum has plummeted industry wide as a result. If not, could be a good find to stumble across...

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

Nameless......Logic indicates (and proves....) that when a product's price moves from $10 a pound to $34 in 2-3 years (an increase of 240%!!!), it does so because the forces of supply and demand are moving strongly toward a disequilibrium......Now, no kudos for correctly surmising which way they are moving and whether the supply side has been adversely affected......
Cheers!!!!!!

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!......Uranium !!!!!!!!!!

It's Uranium .........It's Uranium..........
Molybdenum and all other metals will be considered as an extra bonus......
Uranium is the discovery (huge????) soon to be announced.......
We will see.......I would not be surprised if the results are tantamount (and even better) to Summit's (SMM).......
Only days to go......We will know.......

 

[ihavenoname]

Re: GGY.....Excellent Molybdenum results!

Sorry Epsilon didn't word that too well. Maybe I should re-read before posting.

Was trying to suggest that I will be interested to see what happens with the price of molybdenum in the future. I know in my industry alternatives are already being phased in. I'd assume others would be doing the same after such price jumps.

Now you wouldn't happen to hold a significant portion of this share now would you??? Hehe.

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

Sorry Epsilon didn't word that too well. Maybe I should re-read before posting.

Was trying to suggest that I will be interested to see what happens with the price of molybdenum in the future. I know in my industry alternatives are already being phased in. I'd assume others would be doing the same after such price jumps.

Now you wouldn't happen to hold a significant portion of this share now would you??? Hehe.

Nameless....There are certain products, commodities, minerals that can not be substituted my friend.....
Not to mention that (Almost) EVERY MINERAL AUSTRALIA EXPORTS HAS SEEN SIGNIFICANT UPWARD MOVEMENT IN ITS PRICE in the last year or so.....
Now....You are not going to tell me ...(in your industry) ......You are just about to replace all of them with.......????????
Hm? With???? Perhaps some......Meteorite-Metals???????

Anyway......I know what you are trying to say......


PS. No...I don't happen to have "a significant portion" of GGY......
Just a few, BUT I expect the price to go higher....MUCH higher in fact, in which case, even a "smallish" amount can be construed as....Significant!
Cheers.....

 

[ihavenoname]

Re: GGY.....Excellent Molybdenum results!

Molybdenum can be substituted out 100% as corrosion inhibitors in hundreds of different products, mainly with organic phosphonates, but also some forms of nitrates and phosphate/zinc blends are being used. We use about 60% less now than we did 6-12 months ago, and I know of many others with similar #'s. From conversations with supplies we must be one of the largest buyers of it as a raw material in Oz.

I guess my point is that if the demand for moly in Asia does not hold, I wonder what the future will hold since cheaper alternatives are being developed/forced upon us. I will watch with interest... (cant see much changing in a hurry though - gotta love our stainless fridges!)

You would have made a nice margin on the back of todays numbers...

 

[bailej03]

Re: GGY.....Excellent Molybdenum results!

They are only drilling two holes for Uranium u know. Still I guess others go for a run on rock chip samples so if they're good she'll go. Is in Qld but this doesn't seem to matter much with SMM flying.

 

[Kauri]

Re: GGY.....Excellent Molybdenum results!

MOL (ex Hibernia I think) with the well known A Forrest at the helm will give the moly supply side a bit of a boost when they come on.

 

[Epsilon]

Re: GGY.....Excellent Molybdenum results!

MOL (ex Hibernia I think) with the well known A Forrest at the helm will give the moly supply side a bit of a boost when they come on.

Absolute correct you are Kauri......And what is the Share Price of MOL (Moly Mines) please? About $1.30......From memory they had a high, not long ago, of over $2.00.....
Now, GGY, is, will be, more of a Uranium play, as the results (due any day now) will indicate....Molybdenum, Copper, Silver and other metals in their poly-metalic tenements will come as a bonus....
Cheers)

 

[sam76]

Re: GGY.....Excellent Molybdenum results!

finished up 22%
Confirmed uranium deposits
monday should be interesting