Molybdenum exploration has been on a fast track this year, as a shortage in supply and an increase in demand have pushed prices of the alloying metal up and up. Until recently, moly has held stable despite all the challenges on Wall Street.
The past week was arguably the most volatile in market history, however, molybdenum managed to continue its recent trend of holding steadfast despite the market’s hiccups. This was a week that saw stocks and commodities across the board plummet.
The future of Molybdenum demand gained some extra security with the likelihood of new applications in the short term. Even as other metal prices eased off in recent weeks and months, molybdenum has held its highs, in part because of its wide gamut of uses.
The London Metal Exchange will start trading molybdenum futures next year. A person with knowledge of the matter said: The contracts will begin in the second half. For full story, click here
Linear Metals encountered strong molybdenum mineralization in Offsets to Higher Grade Zones at the KM project. The company announced: Based on the encouraging results received to date from the KM61 Project, it is expanding the original 25,000 metre delineation drill program to 28,000 metres. Two drills continue operating at the project with one drill targeting [...]
The London Metal Exchange will add molybdenum to its arsenal in the second half of 2009. The move was announced on Sept 4th, when the LME board voted in favour of adding both molybdenum and cobalt to its futures trading. The move was met with mixed reviews.
Creston Moly Corp. (CMS) is a Tier 1 TSX-V listed company actively developing its 100% owned Creston Molybdenum Deposit in Mexico’s mining friendly state of Sonora.
TTM Resources Inc. is a Vancouver, British Columbia; Canada based publicly trading resource Exploration and Development Company, focused on four assets in British Columbia, Canada.
Torch River Resources has an advanced molybdenum property, Red Bird, which has a recently updated NI 43-101 compliant resource of 118.6 million pounds of molybdenum indicated, and 76.9 million pounds of molybdenum inferred, incorporating drilling in 2007.
SAMEX Mining Corp. continues with their Phase I exploration activities at their INCA copper/moly/gold project in northern Chile. For more information click here For company’s website, click here
Sunday, September 28, 2008