Hi Dratoz, I read an article last week on MOL. See below:
'FINAL Chinese government approval has been received for Hanlong Mining Investments $US200 million ($A218.8 million) equity and debt investment in Moly Mines.
The stage is now set for development of the worlds first new major molybdenum mine in 25 years.
At completion of the deal, Moly will issue 207.1 million shares for $US140 million and 35.5 million project finance options to Hanlong.
In addition, Hanlong will provide Moly with a 10-year, $60 million working capital facility, which will be used to repay the TCW interim financing facility and provide the initial funding required to restart development activities at the Spinifex Ridge project.
Following completion of the equity and debt investment, Hanlong will procure a $500 million project finance facility for the full development funding required for the project.
Moly is confident this facility will be available for drawdown by September 30 and is assisting Chinese institutions with extensive project, corporate and legal due diligence for the financing process.
Shares in Moly Mines were up 6.25% in morning trade to A93.5c'.
This values MOL at over $136m. STZ still only valued at $7m. A bit of a difference! TFP
STZ Price at posting:
3.5¢ Sentiment: LT Buy Disclosure: Held
