Unless someone can tell me otherwise when the Hanlong deal was being negotiated Moly Mines was laden with Debt to TCW, sitting on a pile of Moly which at current prices was not feasable to mine. Hanlong comes along and puts in a competitive offer and we take it - no one else was keen to back MOL at the time.
Sure Hanlong just missed a cut-off date which would have saved $38.5 Million and that is disappointing but i am assured from the company that Hanlong are completely committed to the project.
Let April play itself out and there will be broad smiles from holders.
MOL Price at posting:
86.0¢ Sentiment: Buy Disclosure: Held
