great announcement today for CXX. looks like Ian Middlemass is...

great announcement today for CXX. looks like Ian Middlemass is moving in to negotiate a takeover

the Anglo sale is also good news, albeit bizzare, since China Molybdenum Co paid near double the lower price estimate of $800M to $1.1M

http://www.bloomberg.com/news/artic...-niobium-phosphate-businesses-for-1-5-billion

the business earned $146M EBITDA in 2015 so China Molybdenum Co paid a whopping 10.3 times EBITDA, which is insane

also, it is not just a niobium mine. the majority of revenue (80%) came from phosphate last year

last year (2015), the niobium performance was very bad, averaging revenue of US$21.76/kg compare to $39/t in the prior year



MARKETS
Niobium Despite a strong first six months, worldwide demand for ferroniobium has softened, while global production capacity has increased slightly. This decline in demand was driven by the challenging conditions in the Chinese steel industry and lower investments in oil and gas pipeline steel. As a result, average niobium prices weakened across all regions

http://www.angloamerican.com/~/media/Files/A/Anglo-American-PLC-V2/documents/aa-ar-15.pdf