Canyon Copper Corp. (OTCBB:CNYC) reports that it approved a private placement offering at a price of CDN $0.35 per unit for gross proceeds of up to CDN $3.15 million.
International PBX Ventures Ltd. (CVE:PBX) reports that the company will raise $2,500,000 by way of a non-brokered private placement of ten million units at a price of $0.25 per unit, subject to TSX Venture Exchange approval.
Demand from Asian markets has boosted molybdenum over the past weeks, in spite of lagging North American demand. The strategic metal is currently trading in the range of $10.60 to $10.80 a pound, up from $10 to $10.50 a pound less than two weeks ago.
The biggest news on the molybdenum market this week comes by the way of expansions, discoveries, and new constructions in the industry. This news is good news, as the market has plenty of room for more players.
Wednesday, January 19, 2011