MOL - Moly Mines

[noco]

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]

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]

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]

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]

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

 

[noco]

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]

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.

 

[treefrog]

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

 

[stevegw62]

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]

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.

 

[treefrog]

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.

 

[Santoro]

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.

 

[jackjones]

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]

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

 

[richardgaaren]

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).

 

[Goldmann]

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?

 

[CityMiner]

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]

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]

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

 

[Wysiwyg]

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.