It seems that the last announcement did not get the market excited. I think its fair to say that people want certainty, in the past this stock would have rocketed those days may of gone.
The next milestone is the signing and execution of the shares to Hanlong, they have a very big incentive to see this happen before the 24th March. Penalties of $38.5mil are not to be sneezed at. The problem is getting the money out of China or so they say. Whatever the reason I am sure if it can be done they will do it.
The board are very confident that the finance will be made available, this may take a little longer perhaps 3Q once again its not a simple matter. The Banks will want certain conditions, and I expect there will be more than one Bank involved.
What is certain is that Moly Mines will be building a mine this year the Iron Ore, and yes they will in my opinion be building the Molybdenum mine. Hanlong have taken their time that maybe so that the Chinese Banks had time to give the go ahead. Hanlong would not want to invest in a piece of dirt and just sit on it, that does'nt make sense or a very good investment.
We don't have very long to wait to see if Hanlong can come up with the goods. My guess is that they would want to have it done by the 23rd March, pay out TCW the 24th.
MOL Price at posting:
86.0¢ Sentiment: LT Buy Disclosure: Held
