Moly Mines Spinifex Ridge Molybdenum Project Financing Update
Moly Mines Limited (TSX:MOL,ASX:MOL) updates on progress toward the completion of the US$500M financing facility for the Spinifex Ridge Molybdenum Project.
Articles Tagged "tsx"
PBX Announces Private Placement
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.
Teck Reports Third Quarter Results for 2010
Teck Resources Limited (TSE: TCK.B, NYSE: TCK) reports quarterly earnings of $467 million, or $0.79 per share, for the third quarter of 2010.
Velocity Minerals – Historic High Grade Moly
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.
Hi Ho Silver – Focused on Moly & Silver Exploration
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.
Joint ventures necessary for survival
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.
Outlook for moly in 2009 uncertain
Molybdenum prices took a considerable tumble in the fourth quarter of ’08, falling from USD 30 per pound in September 2008 to USD 9.50 at the end December 2008. Despite unprecedented demand for the metal, molybdenum prices crashed as crisis permeated the financial markets.
Sign of the times, molybdenum ETF liquidates
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.
New pipelines will spell success for moly
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.
Moly finally hit by market fluctuations
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.
