Moly might be taking off on a management basis but the share price is suggesting some problem/s.
Logically there may well be difficulty in obtaining finance. Hardly unexpected.
The iron deposit aparently has impurities making the deposit suspect. But management is suggesting the sale of the deposit - or other arrangement - may be a trump card. Desperation? Mind - with the high cost of sourcing iron ore, less desirable deposits are more economic.
There is obviously a big seller or sellers unloading.
Share price has reached a low from which previous bounce has taken off. Any lower would be a major concern.
Traders take note. Any recovery will give decent percentage rewards.
A month is a long time for this company - much can happen with share price --- in days even.
The management has been positive and thorough. From the same stable as Fortescue Metals and support of Andrew Forest.
MOL Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held