monday monday

For those Nostalgia bufff and maybe those too young to remember - by a group called "Mamas and Papas"

"Monday, Monday, so good to me
Monday mornin', it was all I hoped it would be
Oh Monday mornin', Monday mornin' couldn't guarantee
That Monday evenin' you would still be here with me

Monday, Monday, can't trust that day
Monday, Monday, sometimes it just turns out that way
Oh Monday mornin' you gave me no warnin' of what was to be
Oh Monday, Monday, how could you leave and not take me

............."

Hopefully we will have the news as to where MOLY MINES is going MONDAY, MONDAY.


But not to deviate from the purpose of Molybdenum/Copper/Iron Ore just some more positive news about it for now.

From Molyinvestingnews.com
"Rebounding Steel Demand Bodes Well for Molybdenum
Tue, Mar 9, 2010

The outlook for steel production is hopeful with increasing demand from China. After a year of strong economic growth in 2009 that saw Chinas GDP rise 8.7 per cent, and a bright forecast for 2010, Chinas appetite for consumer goods is still strong.

A robust automotive market in China is fueling some of the demand for steel. An increase in the steel demand and a lack of domestic molybdenum supply looks good for moly producers worldwide.

January saw an increase of passenger car sales in China of 115.5 per cent on the year, while auto sales in India reached record highs as well. These sales numbers look promising for steel producers globally. Ian Christmas, Director General of the World Steel Association, says the association expects China will continue to grow around 10 per cent and youll find double digit increases in demand in the old industrialized countries, adding demand could grow 27 per cent in Germany and 30 per cent in France in 2010 as Europes major economies recover.

This positive forecast for steel demand not only in China but worldwide bodes well for molybdenum producers. Moreover, a LACK OF DOMESTIC MOLY in China has driven the country to look for suppliers. The indication is that the Chinese mining life domestically is SHORTENING UP, the grades are getting worse and the costs are going higher, and we are seeing this as the Chinese are starting to go outside of their walls to pick up new production, said Michael Schwartz of Teck Resources.

The Chinese firm Hanlong (USA) Mining Investment Inc has agreed to by a stake of American molybdenum producer General Moly Inc. [TSX: GMO]. On Friday, General Moly said a Chinese firm has agreed to purchase a 25 per cent equity stake in company for $80 million and to secure other funding to help finance a Nevada molybdenum mine, reports the Associated Press. Shares in General Moly rose 53 per cent, up to $3.99 a share, on the financing agreement news.

(They- HANLONG have also done this with MOLY MINES AUSTRALIA in October 2009 with a similar play).

In a recent development, Vancouver-based Quadra Mining [TSX: QUA] announced it has joined forces with State Grid, Chinas prime power utility, on a joint-venture Chilean copper project. Under the deal, State grid will provide $900 million towards Quadras operations in Chile. State Grid has agreed to arrange financing for the project, with a target of a 60/40 debt-equity ratio. Quadra will oversee operations. As part of the deal, State Grid will pay C$152 million (US$148 million) for a 9.9 per cent stake in Quadra, reported Bernard Simon of the Financial Times.

These two examples of Chinese capitalization of mining projects are representative of recent moves by the country to control the vital resources needed to drive its own economic growth. Chinas resource grab also represents unique investment opportunities for resource companies in general who need the financing of a joint partner to further develop their projects."

It would be nice also to get an update as to what is happening at Spinefex Ridge Pilbara if the news also comes on Monday.
I thinks most update are a few months old now.

The current plan is export of IRON ORE in October 2010.
There was a mention also of COPPER exports representing 15% of Moly's export income from Spinefex also and ALSO the MOLYBDENUM which could one day represent 5-10% of the "WORLD'S DEMAND" from about Sept 2011 when full production comes into play thereabouts. (If not earlier?).
Supposedly this NOW with Hanlongs Investment means that most of these RESOURCES would now be going to CHINA with their huge appetite for IRON ORE usage.

Monday Monday please be be good to me...