"Dont expect it to be just a firming moly price. IO doesnt seem too spectacular"
Why not because of the moly price? the share price was $7 before the moly price collapsed, and the rise from 30c up to 60c in a short space of time has coincided with the moly price increasing above lows...
the moly price has a long way to go to reach the heights of before the crash, but as does the moly mines share price...
IO does seem spectacular, fantastic grades right next door to the main molybdenum deposit at very shallow depths... A good money earner in the short term while they are waiting for the moly price to recover to economic values...
The $150m has to be repaid at the end of october, no news on that just yet, but there will have to be an annoucnement regarding that between now and october...
IMO, the share price has collapsed inline with the molybdenum prices and the recovery we are seeing now is probably to do with excitement towards this... however we do need an announcement regarding the $150m debt soon
cheers
MOL Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
