By Leia Michele Toovey- Exclusive to Moly Investing News ^[1]

^[2]Molybdenum prices took a considerable tumble in the fourth quarter of 2008, falling from US$30 per pound in September 2008 to US$9.50 at the end December 2008.

Despite unprecedented demand for the metal, molybdenum prices crashed as crisis permeated the financial markets.  The sharp drop in prices came as dealers sold molybdenum stocks to strengthen their cash positions in light of the financial crisis.

The outlook for moly in 2009 is uncertain at this point.  On one side of the scale, moly stocks are at record highs and future demand is tentatively uncertain.  On the other side, many countries are announcing economic stimulus bills that involve stockpiling strategic metals.  Molybdenum is one of these metals.

This week, Chinese traders were back in the market at the end of the Lunar New Year holiday, and are looking for molybdenum products. China, which is usually an exporter of the metal, has seen its appetite grow since the beginning of the year. The main reason for this robust demand is China National Petroleum Corporation's construction of an 8,717 kilometer Central Asia China natural gas pipe line. According to the International Molybdenum Association's January newsletter, CNPC is seeking 10,000 tonnes of molybdenum or 2 to 3 per cent of the annual global demand. Currently, Chinese traders are looking to purchase molybdenum from Japan and South Korea.

Company news

Largo Resources Ltd ^[3]. has announced the closure of its non-brokered private placement financing. 39,319,511 common shares were issued at $0.06 each, for total gross proceeds of $2,359,170.74. The closing remains subject to receipt of applicable regulatory approvals including final approval of the TSX Venture Exchange ^[4]. This financing is in addition to the $500,000 flow-through financing previously announced and closed on December 31, 2008.

Other positive news for the Company - Largo has successfully reached a settlement agreement with creditors to re-structure $243,717.36 in outstanding net debt. Largo will settle the outstanding amount through the issuance of 4,061,956 common shares of the Company. Following the completion of this debt settlement, Largo will have 171,864,476 common shares issued and outstanding. The proceeds of the financing will be used by the Company for completion of the Localization License; the crucial environmental license, at its Maracas Vanadium-PGM deposit in Bahia, Brazil and for working capital purposes.

Romios Gold Resources Inc. ^[5] (TSX. V: RG) has announced that it had concluded an option agreement to acquire a molybdenum property that was the site of the former producing La Corne molybdenum mine. The mine property is located approximately 30 km from the town of Val d'Or, Quebec. The La Corne mine was operated intermittently by Molybdia Corporation Limited from 1951 to 1972. Total production during this period was 3,838,844 tons of ore at a head grade of 0.33 per cent MoS2. The historical probable reserve calculated in 1974 was 1,440,000 tonnes grading 0.23per cent MoS2.  Romios has entered into a three-year option agreement for five mining concessions collectively encompassing 234.26 hectares. Additionally, the company has staked 28 claims covering 847.5 hectares which surround and are contiguous to the mining concessions. Terms of the agreement provide for an initial payment schedule of $20,000 cash, completion of a minimum of $50,000 in exploration expenditures and the issuance of 650,000 shares of the company over the three year period.

General Moly ^[6] (AMEX:GMO) is in a good financial position to move forward with its Mt Hope project. General Moly ended 2008 with an unaudited consolidated cash balance of US$91 million, down from USD 121 million at the end of the third quarter. The company plans to construct its Mt Hope, Nevada, primary molybdenum mine within 15 to 18 months of receiving all necessary permits. General Moly is continuing to evaluate several potential sources for around US$ 50 to 150 million in interim financing, including additional support from strategic partners. This may also include the possibility of a sale of another minority interest in the Mt Hope project.