Australian (ASX) Stock Market Forum

MOL - Moly Mines

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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.
 

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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.
 
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
 
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.
 
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
Click to expand...

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...
 
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
Click to expand...

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
 
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
Click to expand...

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

jman
 
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 !!
 
Miner said:
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 !!
Click to expand...

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
 
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.
 
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.
Click to expand...

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 --
 
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

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 --
Click to expand...

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
 
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
 
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.
 
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.
Click to expand...

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...:eek:

jman
 
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! :p::p::p:
 
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.
Click to expand...


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.
Click to expand...
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...
 
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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