Creston Moly Corp. announced that it has completed a pre-feasibility study that attaches a capital cost of between US$511.6 million and US$576.2 million to development of its Creston project in Sonora. For full story, click here
Velocity Minerals Ltd., a company dedicated to the acquisition and development of advanced or high grade molybdenum mineral properties. Velocity presently owns the mineral rights to two molybdenum projects in northern British Columbia (Mt. Haskin and Cassiar Moly) and is actively pursuing other properties in North America and internationally.
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.
MAX Resource Corp. is a Canadian based exploration company with a diversified portfolio of mineral exploration projects in Canada and the Western United States. Our properties include “Molybdenum” in Alaska and Nevada, “Gold” in Alaska, Nevada and British Columbia and “Uranium” in New Mexico, Arizona and northern Canada.
When economic growth resumes, there will be a critical shortage of strategic metals. The rapid collapse in metal’s prices has forced many miners to mothball operations; when demand for these metals resumes, there will be a lag time for production online. This means that as quickly as prices collapsed, we can expect an upswing with more impetus.
The steel sector has been deeply impacted by the global economic climate; with an approximate 50% decline in production. Moly, as an important alloy, is following suit.
Weiss Capital LLC has acquired ownership and control of 6,901,500 common shares of Sprott Molybdenum Participation Corp, representing approximately 17.5% of the presently issued and outstanding common shares of the company. For full story, click here
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