Agree with what your thinking, with Moly back at US12-13 range they may need to fwd sell a portion of their concentrate or significant interest in the project (which they have) to get finance when credit markets improve. But unfortunately, yes they just missed the boat and will face an uphill battle to maintain some momentum for the next 12 months.
Some long term positives imo for Moly are a) US750M capex should reduce with steel prices and wage reductions,although A$ will be a factor,b)supply destruction from other primary molybdenum mines and possibly copper/moly mine closures and new copper/moly mine delays, c) moly will follow the oil market which is supply constrained. d) perhaps a change in mine plan for lower capex.
Many other companies in a similar position that have missed the boat and a few others that may wish they missed it...
MOL Price at posting:
22.0¢ Sentiment: None Disclosure: Not Held
