Thanks fontenay on thatJust some history as to Molys early day....

Thanks fontenay on that

Just some history as to Molys early day. I think I picked MOLY Mines up about 3 years ago as a stock to follow.
Anyways MOLY may have more than we at this time recognize. Certainly time will tell with maybe a few new discoveries down the track.
From Mineweb.com

25th September 2007

PERTH -

"The board of Moly Mines Ltd (ASX and TSX: MOL) today adopted the findings of a bankable feasibility study (BFS) for development of the Spinifex Ridge molybdenum project in the Pilbara hinterland that is projected to cost $A1.071 billion ($US852 million) to have developed by mid 2009.

The mine is to produce molybdenum (24 M lbs of contained metal) and also copper (27 M lb) concentrates at an annualised rate over the first 10 years.

Moly Mines' general manager Collis Thorp told Mineweb today that the prime market would probably be the Europe, and while there were other molybdenum projects in blueprint - as distinct from existing molybdenum by-product from porphyry copper mines - Spinifex Ridge would be the first to commission and may be the biggest.

The market, he said, was now capable of accepting a major new molybdenum mine each year.

Spinifex Ridge (formerly known as Coppins Gap when a discovery involving Esso Minerals several decades ago) has proven and probable reserves of 314.6 Mt grading 0.061% Mo, 0.092% copper and 1.7 grams/tonne silver, and there is a measured and indicated resource of 469 Mt @ 0.058% Mo, 0.089% Cu and 1.7 g/t silver. The company has not placed the silver component as a revenue component in its studies to date.

Two independent studies were made on the molybdenum and copper markets for the company and both concluded molybdenum oxide prices should remain strong in the near term before declining in the longer term to a price of between $US13.80-14.60/lb. The spot price was currently about $US32/lb for molybdenum.

The company told a Perth media briefing today that annual revenue from mid 2009 before income tax was projected at $A264 M ($US228.3 M) and that a positive cash flow should provide capital payback within 36 months.

Following this briefing a similar presentation is being given in Canada by Moly Mines' managing director, Dr Derek Fisher, who said in a media statement that the company had expanded the plant size by 33% from the 15 Mtpa pre-feasibility figure. (The DFS study managed by WorleyParsons favours a 20 Mtpa open pit mine and concentrator facility).

"World molybdenum market fundamentals look extremely strong, fuelled by consistently strong growth and limited new supply," Fisher said.

"Detailed engineering commenced in August and long lead orders for the comminution circuit were placed in April."

Given that the Pilbara is one of the world's big mining regions already experiencing shortages of professional, technical and general labour, how is Moly Mines going to gather a peak construction workforce of more than 1,000 and a permanent workforce of more than 300?

Collis Thorp told Mineweb that the company's human resources team had already put a lot work into this, was looking at recruiting from South America (where there is molybdenum mining experience) as well as domestically, in South Africa and from other countries. As a significant airport strip is planned one option was to bring in part of the fly in, fly out workforce from Adelaide by jet aircraft. The distance to Spinifex Ridge, he said, was no greater than flying from Perth.
"Financial Adviser to Moly Mines, Azure Capital, told Mineweb that several options were being looked at in terms of the debt to equity ratio. This included consideration for a joint venture and arrangements for offtake agreements. The BFS had shown the project should be sufficiently robust to carry a debt ratio of around 50%.

This major Pilbara project is a second feather in the cap of high profile Perth businessman Andrew (Twiggy) Forrest, for he is also major shareholder and one of the drivers behind the multi million dollar new iron ore project for Fortescue Metals Group that will give the big two - BHP Billiton and Rio Tinto - an iron ore market competitor."

Lots of water has flowed down the river since those speculative planning days.WE now have almost the final HANLONG - Chinese settlements/agreements due now.

Just looking at those number of employees (1000) and workers (300) gives us an idea of the hugh project planned at Spinifex.
Great slide show on Moly mines site as to the delivery of components.
The ball is rolling already as to site developments.

Was there a mention of some silver there. Maybe eventually perhaps a little gold there also in them there hills but just for now the IRON ORE,COPPER and MOLYBDENUM should do as a starter.

AND we know know that Hanlong has ALSO been sent out to get as much Molybdenum opertaions world wide as possible with that announcement today about the other MOLY mining in NEVADA.
Obviously they are very busy company NOW with world wide interests growing - keeping in mind that they are NOT finding too much LARGE Molybdenum deposits now days.
INTERESTING days ahead.