Timmo, you forgot one slightly important qualification -
"at this point in time".
Moly's still $10 and I bet no ones pricing in what will effectively be a reverse TO by NEO as the only profitable part of the Moly mess.
There's a heap of RE wannabes out there with near worthless assets and very little cash with SP's that give them enterprise valuations in the tens of millions, ATM.
ROW RE demand has contracted into China during a period of slow economic growth while bubble prices have wiped out huge chunks of RE demand. China has demonstrated they can easily supply global demand x2 and we've got 45 JORCed RE projects rushing to fill a void that is totally illusionary.
Something has to give.
2013, the adventure begins., page-23
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