Ive been watching Moly Mines for about 3 years and certainly the MEGA POTENTIAL of this company cannot be achieved until finance comes in. Some of us get excited about a range of values in the ground from $14 billion to $$50+++ billion eventually BUT as its constantly been compared to other companies that turned into big dollar companies - only when either they started production OR they were takenover by a BIG company did they shine .
For now MOLY is NEITHER - NO production and actually NO BIG TAKEOVER yet.
BUT as we are well aware when even there will be an inkling of a glimmer of SETTLEMENT this stock will SKYROCKET. IT has all the hallmarks.
As to the falling price obviously many sellers are the short term players that may have no intention but quick bucks. Just reading a string of "short termers" on stockhouse and most had the same common themes- following each other, critical of not making that quick buck.
AND certainly since the HANLONG/MOLY saga has gone on from almost Sept/Oct 2009 till now (6 months)- then obvoiusly this stock has failed them that wanted fast settlements results. BUT since production will not happen for at least 3-6 months also then all MOLY has going for it now is TAKEOVER talks.
Perhaps the next month will finally bring this "TAKEOVER" resolution to a DEFINITE and FINAL close.
Then Ill just sit back and laugh. BUT for now will enjoy sipping some cider vinegar and just gloating.
However will be definately buying a few more next month before the announcement(s). Im still IN!
MOL Price at posting:
79.5¢ Sentiment: Buy Disclosure: Held
