MOL - Moly Mines

[FUTUREFUND]

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.

 

[michael_selway]

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.

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

 

[adobee]

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..

 

[BIG BWACULL]

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.

In its preliminary feasibility study released about two years ago Moly Mines anticipated the cost of the project would be $622 million.

However, it has since increased production capacity by about 33 per cent from 15 million tonnes per annum to 20 mtpa..

Moly Mines general manager Collis Thorp said that increasing the capacity required additional plant facilities.

He added that labour and equipment costs had also increased since its earlier project cost estimate.

Moly Mines is working with Azure Capital to source its project funding requirements, which it expects to secure by March 31.

Mr Thorp said the explorer was considering potential joint venture partners.

But he was tight-lipped about naming potential investors, many of whom have already had site visits to its operations in the Pilbara.

He said the investors could potentially come from Europe or South East Asia and there had been "no shortage of people showing interest".

Moly Mines is also expecting the results of a Public Environmental Review being assessed by the Environmental Protection Authority in the next fortnight.

Moly Mines' definitive feasibility study was based on a molybdenum price of $US13.80, or about half of the current price.

Mr Thorp said the project had a net present value of $855 million, but based on today's molybdenum prices its value soared to $3.5bn.

Moly Mines chief executive officer Derek Fisher has headed to Toronto to brief investors but said in a statement that the company was "delighted with the outcome of the DFS particularly given the challenging development environment within the resources industry".

 

[FUTUREFUND]

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

 

[prophet174]

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?

 

[FUTUREFUND]

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

 

[michael_selway]

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

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

 

[FUTUREFUND]

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

 

[Miner]

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

 

[FUTUREFUND]

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

 

[Miner]

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

 

[prophet174]

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]

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]

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

 

[bvbfan]

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]

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 fundFrom 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

 

[semochen]

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.

 

[Miner]

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]

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

hope it will be good news

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