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.
In true Western entrepreneurial spirit, Hi Ho Silver’s experienced managerial team is dedicated to establishing strategic relationships with industry leaders. Minimizing risk, while maximizing opportunities for success will provide investors with astable platform for investment in the mineral exploration field.
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.
Molybdenum has been a strong performer in 2008; in fact it is just recently that the metal experienced a little downside. The dip in prices could be attributed to the negative market sentiment, as moly’s fundamentals are still strong.
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 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.
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.
A fluctuating greenback coupled with fears of a global recession has sent many of the metals on a tailspin. In just the past few months, the spot prices for base metals copper, zinc, and nickel are down 12%, 30%, and 42% respectively.
Many investors are giving molybdenum the title “The New Uranium”, which is a hint at the profit potential that a savvy investor can make on the moly market. If you look at moly’s past- it is known to hit high highs and low lows, at the drop of a hat. In fact, the past 15 years have seen moly prices oscillate from $1.82 per lb to $40.00 per lb.
Thursday, March 12, 2009