Investment holding company Sprott Molybdenum Participation Corp. has declared that it has given C$1.76 and a new common share for each share held to stockholders as per a planned distribution of assets and revamped its board. For full story, click here
Investment holding company Sprott Molybdenum Participation Corp. declared that it gave C$1.76 and a new common share for each share held to stockholders as per a planned distribution of assets and revamped its board. For full story, click here
As previously announced, the Corporation proposes to distribute all or substantially all of its assets to its shareholders on or about July 9, 2009. For full story, click here
Sprott Molybdenum Participation Corporation announced its results for the year ended December 31, 2008. For full story, click here
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
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.
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.
Slower Chinese buying impacted Ferro-molybdenum prices between last Wednesday and Friday; however, the US’s proposed $136 Billion infrastructure spending plan capped the downside. Western-grade Ferro-molybdenum fell to $24.50-26.50 per kg from $26-28 per kg previously, with the bulk of material sold towards the low end of the range.
Sprott Molybdenum Participation Corporation reportd its results for the three and six months ended June 30, 2008. Click here for full news
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