lamp, page-2

Chihawk..You are the Moly expert,can you give us a quick up date as to what stage they are at.

Sure oneforthe.
I'm done with the TA stuff if it's gonna be misquotes and flames from here.
Moly has poured the lower blocks of concrete on the new Phoenix slabs, but not the main foundation. So far they say they are on time and on budget. That means July 2012 construction complete and end of 2012 commissioning complete. So it is still a sizable timeline to follow. But the updates and press releases have slowed and Smith sold a fair number of shares. There are a lot of unanswered questions:
Are they permitted to operation or just through construction?
The budget has pending funding, will it complete?
Is the new technology fully permitted (I can't see how)?
When will they shut down the current Mountain Pass processor? How long will it take to start up Phoenix thereafter?
Will Silmet still operate with Mountain Pass ore after Phoenix starts? What are the margins on Silmet production?

In fairness to Moly many of these questions need more time to be answered. But it is clear their project is complex with a longer timeline and the acquisitions add moving parts to the situation. So far market expectations are easy and Moly has done little to calm those high expectations or valuations. They have not exactly taken the under promise over deliver approach. I suppose that is understandable since the funding is not complete. If all works as planned they will do well. If not the valuations will get hit and the real money makers will only be insiders.