Moly price is very low (around US$11.50/lb compare with US$34/Sept 08) + USD is weak, AUD is high and fuel is expensive. It is hard for MOL to start moly production. Chinese may do nothing with that project until moly price is up. I think MOL sp maybe down more in the near future . I hold 600 shares, did not take up SPP as I feel not confident for MOL future sp. I maybe wrong, but good luck to long term holder.
MOL Price at posting:
79.5¢ Sentiment: None Disclosure: Held
