By Leia Michele Toovey- Exclusive to Moly Investing News

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Current market conditions have meant creative management for many mining and exploration companies.  Some are pursuing joint ventures to capitalize on exploration spending, and the lucky few with assets can look to acquisitions that host unprecedented opportunity. Molybdenum has crashed from $33 per lb in mid ’08, to its Friday closing value $8.70 per lb. Analysts predicts the metal is in for a slow recovery this year, and is anticipated to average $11.00 per lb.  The price scene, however, may become a little more complex this year when LME adds moly to its minor metal offerings.

Thompson Creek Metals Company, the owner of the largest undeveloped molybdenum deposit in Canada, has expressed interest in an all-stock acquisition to boost output.  The company, however, is in no rush as they believe asset prices will continue to tumble. “We’d like to go out there and do an acquisition, but we don’t feel an immediate sense of urgency because there may be some more pain to be felt in the marketplace,” Chief Executive Officer Kevin Loughrey said. Thompson Creek will buy mines or deposits that contain molybdenum and copper and may consider other metals, Loughrey added. Loughrey declined to name acquisition targets. Molybdenum prices will recover as government economic- stimulus packages take effect, emerging-market economies build new energy infrastructure and developed countries replace worn pipelines and aging oil refineries, he said. “Long term, we still feel very comfortable where moly is headed,” the CEO added.

Australian gold company Midas Resources is withdrawing from the Da Hong Shan porphyry copper project in Western China. The stage one exploration of the copper project, under a joint-venture agreement with China’s Zijin Mining was complete, but the company was withdrawing due to the low grade of the drill results. “Owing to the low copper and molybdenum grades reported from the ten hole diamond drill program, as well as the current downward correction in molybdenum and copper prices, further exploration was no longer considered justified,” Midas said in a statement. “Midas has no debt or contractual obligations in China, and is negotiating the sale of its 85 per cent owned Chinese subsidiary, Midas Mining China, to a local Chinese entity.

Golden Phoenix Minerals, Inc. and Win-Eldrich Mines Ltd. (TSX.V: WEX) have executed a binding memorandum of understanding that will consolidate 100 per cent of the ownership interest in the Ashdown project to Win-Eldrich Mines. WEX will pay US$5.3 million to Golden Phoenix which will be satisfied by the issuance by WEX of a secured promissory note for the full amount of the purchase price. The agreement amicably resolves all outstanding arbitration issues between the parties. Commenting on the sale, David A. Caldwell, CEO of Golden Phoenix said, “Extraordinary times have produced extraordinary solutions. This sale grants both our companies the freedom to move forward in their respective arenas.” Perry Muller, President of Win-Eldrich stated, “With 100 per cent undivided ownership, we now look to expand the known resource while maintaining the flexibility to optimize the operation to fit current market conditions. We believe that the resolution of the legal disputes coupled with the consolidation has strengthened our attractiveness to the capital markets and paves the way to move the project forward.”

Levon Resources Ltd. (TSX. V:LVN) and its joint venture partner Valley High Ventures Ltd. have announced that crews have begun a  work program  on the Cordero silver, gold, lead, zinc project, Chihuahua, Mexico. The current work program will involve continued assessment of the existing areas of interest as well as expanding the area of coverage.  The property encompasses a high level, porphyry-style silver, gold, lead, zinc, and molybdenum district with volcanic-hosted silver, gold and base metal veins and stockworks. Previous work on Cordero dates from the 1950′s; Valley High’s wholly owned Mexican subsidiary acquired the project in 2006 and has since conducted property wide soil sampling, geological mapping, limited trenching and IP and re-assaying of historical core. This work has identified several high priority exploration targets that reflect potential for bulk mineable mineralization. Levon may earn a 51 per cent interest in Valley High’s Cordero by spending Cdn $1,250,000 by the end of February 2013 with a first year work commitment of Cdn $250,000. Valley High is the initial operator, however, Levon is providing technical input and geological services.

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