In line with most other metals the Moly Price got thrashed down...

In line with most other metals the Moly Price got thrashed down to $US11.50 over past 60 days (was $US33).

Now this has put the knife into a number of projects (along with the credit market meltdown). Thomson Creek's just put its Davidson project in mothballs.

Anything grading around 0.05% (eg Moly Metals) will be under serious scrutiny given the new slim margine.

RCH? Lucky they are still in exploration stage and even luckier they have a very high grade material.

At least the competition is getting wiped out.

God knows what terms, if any, Moly Metals will have to concede to get its required $650M in funding. Existing shareholders are likely to be really belted by dilution whether that be the issue of shares or more likely I reckon, the terms a JV gets done on. They may well have to give up a sizeable portion of the project to secure a JV partner. Harbinger liquidating doesn't help matters.