Roca Mines Inc. reported its unaudited financial results for the three-month period ended November 30, 2008, including production and sales from the MAX molybdenum mine. The company reported average molybdenum recoveries of over 95% during the quarter. For full story, click here For ROCA’s website, click here
Read the full article: "ROCA announces First Quarter Results"
Friday, January 30, 2009
Freeport McMoRan Copper & Gold of Phoenix forecasts its sales to slide 15% to 60 million lbs in 2009 from the 71 million lbs shipped in 2008. The company has revised annual production plans at Henderson for 2009 at a 25% reduction. For full story, click here For Freeport’s site, click here
Read the full article: "Freeport McMoRan reduces molybdenum..."
Thursday, January 29, 2009
Lithic Resources Ltd. Intersects 16.76 Metres of 0.432% MoS2 at Crypto skarn-hosted zinc-indium-copper-molybdenum project located in western Utah. For more details, click here For company’s website, click here
Read the full article: "Lithic reports additional molybdenum assay..."
Thursday, January 29, 2009
Due to lower molybdenum price environment, Moly Mines proposes smaller Stage 1 molybdenum development at Spinfex Ridge. For full story, click here
Read the full article: "Moly Mines proposes smaller molybdenum..."
Tuesday, January 27, 2009
As per Morgan Stanley, molybdenum prices will remain low in 2009 and the market’s supply surplus will shrink from 2008 levels. The report from Morgan Stanley said: We forecast prices to remain at a low of USD 12 per pound in 2009 as the industry remains in surplus for most of the year. Given that [...]
Read the full article: "Moly prices to remain low in 2009"
Tuesday, January 27, 2009
Thompson Creek announced huge cut in its 2009 production forecast Tuesday of as much as 41%. The company plans to produce 20 to 24 million pounds of Molybdenum, down from the prior guidance of 31.5 to 34 million pounds. Chief executive Kevin Loughrey said: This is a unique time, because we’re not getting a confident [...]
Read the full article: "Thompson Creek reduces molybdenum production"
Monday, January 26, 2009
As the shock waves spread around the global economy; many analysts are starting to hedge their bets on when a recovery will start. In their Global Metal’s Report released this week, Morgan Stanley gave their take on the near future for the molybdenum market.
Read the full article: "Government stimulus could boomerang moly"
Monday, January 26, 2009
Molybdenum prices have crashed from a high of $35 per pound at the end of October down to the recent level oft US $12 per pound. This represents the worst decline when it comes to commodity prices; a 53 percent drop to be exact.
Read the full article: "Molybdenum’s decline leaves few strong..."
Tuesday, January 13, 2009
In April 2007, when the Sprott molybdenum fund was created, the minor metal was on a fast track. When the fund was created the metal was trading consistently at US $25 per lb; after the ETF was up and running moly cruised to US $ 40 per lb.
Read the full article: "Sign of the times, molybdenum ETF liquidates"
Tuesday, January 6, 2009
The first week of 2009 was a sleepy one for molybdenum with thin trading volume as many customers remained on holidays. Activity in China was by far the slowest, with Chinese molybdenum oxide and ferromolybdenum producers halting spot molybdenum offers to overseas customers.
Read the full article: "China halts molybdenum spot trading"
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Friday, January 30, 2009