kudos jan johnson

Touched on this already but really think it's worth putting in context.

Molymess's intended write downs are everywhere now with articles like:

"Some analysts are looking an asset write-down of perhaps as much as $1 billion as the Neo acquisition generated $1 billion in intangible assets and goodwill. According to data, at September 30, 2012, intangible assets and goodwill pursuant to the Neo acquisition were $476 million and $501.6 million, respectively."

I've read a lot about Molymess, including most Q&A transcripts with analysts, JPM, GS, MS, etc at the Q reports, and I believe Jan from HC was the very first person to raise this issue. Seriously great insight Jan:

"Jan Johnson on January 5, 2013 at 11:41 AM said:
Steve, Tim I agree.
You just need to have a look at Moly’s latest balance sheet to see the trouble they’re in.
From Jan to Sept 2012 it’s has been loaded up with some very questionable numbers.
The best example is ‘goodwill and intangibles’ which soared from $6m to $980m with over half of that goodwill.
Given their recent SP history, management turnover and current investigations for misleading the market I’ve no doubt the company’s goodwill has exploded!!
There will be some IP from recent aquisitions particularly Neo but really…….is it worth $500m?? I really doubt it.
It’s also worth noting that their inventory has more than doubled to $281m. Is that number based on the current basket price or the price when produced? Why are they having trouble selling their product?
The financial of Moly are, as I see them, dreadful."

- See more at: http://www.proedgewire.com/rare-earth-intel/rumors-of-a-molycorp-takeover-make-for-interesting-speculation/#sthash.DUCofc07.dpuf

PS. Nobody's picked up on Jan's inventory issue as yet. As a competitor to Lynas in our key Japanese market Molymess's destabilisation has to be a huge positive. Doubt NC can believe his luck on the timing.