I have now had time to digest the deal with the Hanlong Group and listened to the webcast this morning.
Whilst I am less than happy with control going to Hanlong we must be over the moon that we have a backer. Everything now rests on the FIRB approval. Will they give the go ahead, well if they don't MOL will be looking down the barrel. So my felling is that they will get the nod, because without it MOL have very little chance of getting this mine of the ground. It will create jobs and income for the Govenment,each case must be assessed on its own set of circumstances, so fingers crossed.
Hanlong bring to the table tremendous opportunties for MOL to grow and expand. What I take from this mornings webcast is that Hanglong wish to create an International mining Co; with its Head Office in Perth.
So the next few months are make or break for MOL, get the nod from FIRB up goes the S/P, Finance for the project and up goes the S/P Moly price returns to normal up goes the S/P.
For those of us that have been in this stock for some time its been a rollercoaster ride, this turn of events is perhaps the climax.???????
MOL Price at posting:
$1.23 Sentiment: None Disclosure: Held
