change in fundamentals? re alternatives?, page-3

just read this article stating MCP announcing further heavy ree deposit in order to push the SP up no doubt, i like the bit where they say they have not actually drilled it yet, but, we will announce it anyway.

Shares of Molycorp, Inc. (NYSE: MCP) are seeing pre-open action Tuesday following reports in the New York Times the company is set to announce a "so-called heavy rare earths" at a Dept. of Energy conference in Washington later today.

The ore deposit is near Mountain Pass, Calif. and would require very little strip mining, the CEO was quoted as saying.

"The company still needs to do extensive test drilling to determine the quality and quantity of the rare earth ore. But rather than wait for the test results, Mr. Smith acknowledged that Molycorp was announcing the deposit now partly to reassure manufacturers that adequate supplies of heavy rare earths would be available in the near future — in hopes of discouraging manufacturers from seeking alternative materials, as some have already begun to do."

MCP last traded at $31.76, up 5 percent from Monday's close.