there are very few primary moly mines. Most comes as a by-product from copper mines. As they have no incentives to close produciton when demand decreases u get huge volatility in price - thus not many people brave enoiugh to build straight moly mines.
On their numbers .09% Mo_eq -
Taking some WAGs (Wild Arsed Guesses) Assume 80% recovery gives .0009 x .8 x 33,000 = US$24/t recovered value.
Assume ming $5/t, milling $15/t and other $5/t doesn't leave a lot left over.
How much capex? US$200m? How much on drilling and studies to get to feas? How many years?
In my opinion probably explains lack of market excitement
there are very few primary moly mines. Most comes as a...
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