The next bit of news will be the loading of iron ore and our first shipment, loading is taking place right now.
Finance term sheets signed will be the next major Ann: the only down side is that full documentation and draw down will not be until after Jan. My feeling is that it will not be that far away because they are using two major engineering firms on a fixed price lump sum contract. Never the less I am sure it will require another shareholder meeting to approve the extension for the 35.5mil options to Hanlong. These options will be available to Hanlong at C$1-00 which MOL will require to meet the cost of construction. Hanlong must be learning from this exercise, it being their first major project outside of China.
Moly prices look like holding for the next 12 months, but the Chinese have a much longer time frame. The Chinese Govt plans to build over 100 nuclear power plants over the next 10 years, thats a lot of moly.
So reflecting back over the past year its had its ups and downs. MOL however is in a much stronger position today and the next 12 months should be interesting, who knows whats around the corner,
I would like to wish everyone a safe and prosperous New Year
MOL Price at posting:
$1.14 Sentiment: Buy Disclosure: Held
