grades

Moly Metals has an ungeared payback of 3 years (quicker once they gear it up with debt) with a grade of 0.05% and a long term price forcast of $US15 lb (half current price).

Using a grade of 0.14% (plus copper credits) would blow Moly Metals number out of the water.

This is like a junior explorer which has just drilled a series of high grade gold holes (say 20 g/t) over good widths but is still needs to collate all the data to get it to JORC requirements.

As a guide:

Mo at 0.5% is fairly good.
Mo at 0.08% is high grade
Mo at 0.14% is very very high grade.

Some Moly mines around the world will have a high grade section but will be balanced out with lower grade material. But I've yet to track one down which has an average grae of 0.8% let alone 0.14%.