molybdenum price

This relatively unknown metal has moved from $US3 lb from a few years ago to $US33 lb now. Given that these mines usually have copper and silver credits, there is now big bucks in this metal to be made. Just have a look at Molymetals (MOL). Its has a 3 year pay back and a IRR of 22% (ungeared). The return is much higher at its 70%/30% debt to equity proposed. It will be very interesting to see what RCH's Moly deal is like. Rio certainly put some work into it at $20 Million. As a guide for new players grades of 0.05% Molybdenum is good, 0.10% is high grade. The really good mines tend to have big resources measured in 100 million tonnes plus size.