By Leia Michele Toovey - Exclusive to Moly Investing News

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Molybdenum demand has stayed steady and there is a strong outlook for the future

Commodities have been having a rough ride lately, but Molybdenum's performance, although not stellar, has not been as bad as many of the other metals. People have been whispering that moly's current supply/demand picture makes it one of the best metals to invest in. This is probably not much of a secret anymore, as last week on CNBC Jim Cramer recommended moly stocks on his Mad Money lightning round ^[2].  His reason for the recommendation? The fact that moly is in short supply, and the stock is currently trading low as current economic conditions have prompted a sell off of all commodities.

Moly demand has stayed steady, with a strong future outlook. The supply picture has been decreasing. Just this past week Chile announced that their output of molybdenum fell 27.6 percent in June, 21.6 percent in the first half of the year.  Chile is the global leader in copper production, and mines moly in concert with copper, as the metals are found together. Despite moly's decrease, copper production was up.

Moly Market Movers and Shakers

Quaterra resources ^[3] (TSX: CTA) has finalized a mining license with the state of Texas general land office. The mining license includes three breccia pipes in the cave peak molybdenum prospect. One of these pipes was drilled in the 1960′s by Union Carbide,  confirming significant mineralization.  Based on a preliminary review of all available data, the cave peak molybdenum prospect has excellent geological potential to contain an economic molybdenum deposit. Quaterra has acquired rights to the property through a lease option agreement with the holders of two prospecting permits. The agreement allows Quaterra to purchase the entire interest by making staged payments totaling $600,000 over a five year period. For the remainder of 2008, Quaterra will take advantage of improvements in the understanding of moly systems that have occurred since Union Carbide perfomed studies in 1960, and undertake a work program involving mapping, sampling, relogging the available drill core, and preparing for an exploration plan.  Drilling is tentatively scheduled for Q1 2009.

Velocity Minerals ^[4] (TSX: VLC) has commenced drilling operations in its Mt. Haskin property in Northern British Columbia. Drilling will be combined with Geochemical Analysis and Geophysical surveys to confirm historical results and hopefully find areas where the project can be expanded. In the 1960′s, Della Mines Ltd, drilled over 29,000 ft in the area and came up with an estimated 13.5 million tonnes of 0.157% molybdenite (Non NI 43 101 compliant). 

Linear Metals Corporation's (TSX: LRM) drill core results continue to confirm the continuity of molybdenum mineralization over significant widths at their KM61 discovery. Combined molybdenum mineralized zones now extend 1600m, are up to 350 m wide, and host greater than 0.04% mineralization. These results are from 57 drill holes, with another 18 drill holes nearing completion.

Executive Changes

There have been some executive shuffles over the past weeks at Moly producers. Thompson Creek Metals Company Inc, one of the world's largest publicly traded pure molybdenum producers announced that Pamela L. Saxton will join the organization as Consulting Financial Executive effective August 4, 2008 and will become Chief Financial Officer and Vice President, Finance later this year. The appointment is  in conjunction with the move of the Company's 10-person finance department from Vancouver, British Columbia to the Company's principal executive office in Denver, Colorado. The current finance employees, including Derek Price, the Company's Vice President, Finance and Chief Financial Officer, have chosen not to relocate to Denver and have agreed to remain with the Company and work closely with Ms. Saxton through the transition. Prior to joining Franco-Nevada in 2007, Ms. Saxton was the Vice President and Chief Financial Officer of Colorado-based NewWest Gold Corporation.

Mr. Paul F. Nelson, C.A., has been appointed to the position of President and CEO of Adanac Molybdenum Corporation. Mr. Nelson, has been a director of the Company since 2006, and is moving into this position to replace Dr. David Stone who is leaving to pursue other interests. In addition, Mr. Peter R. Jones, P.Eng is joining as a consultant to the company, whereas Mr. Dan Koyich is rejoining the board of directors.