Well somebody is at last starting to wakeup to what this is all...

Well somebody is at last starting to wakeup to what this is all about. We have seen a solid accumulation going on and today the pressure to suck stock out of the market saw it move up 10% today.

What do we have here and what did we learn that was new today?

1. In ground resource is worth $18M at current Moly price.

2. Assuming a $10lb total cost of production and a capex of $500M, there is a net surplus out of the ground over a 10 year period (9Mt production per year) of about $4Billion.

3. Another way of looking at it is by processing their high grade core first they would have a EBITDA of about $A850M pa for the first 8 years.

What did we learn today. That they don't know if the Moly deposit also contains Rhenium which most Moly mines contain. They dont know because back in the 80s when this was drilled by RIO nobody knew how to assay for Rhenium let alone care much about looking for it. What so special about Rhenium? Well it sells for $US4,700 lb which makes it one of the most expensive elements on the planet. If this deposit has it and its at reasonable grades, you can tack on another $US1Billion to $US4Billion to the value of metal in the ground. High grade Moly normally has high grade Rhenium with it.

What we have he is an Elephant in the kitchen and hardly anybody has noticed.

Maybe thats about to change.

Expected developments:

1. JV partner. Jap and Korean steel mills are moving to lock down long term supplies of Moly. Recent deals done in the US.

2. Will the big Canadian Moly fund manager Sprott take a position which it usually does with junior Moly companies?