Hi Currambene, I too would like to have some informed opinion on this stock. The resignation of the CEO could be a positive or a negative. With the iron ore operation ongoing and the molybdenum project on hold the company has negotiated excellent finance availability from the Chinese bankers. The implication was that MOL would be looking around for potential projects that it could take over or develop.With this in mind perhaps we can expect an anouncement of some type before long as it does seem to be a long time between drinks. I would think that the Chinese partners who, I understand, bought in at around 85c would also be keen to see some action that would enhance the share price.
Of interest also is the fact that Hanlong are also actively involved with General Moly leading one to believe that they have a real interest in cornering the molybdenum market worldwide. This makes one think that sooner or later they expect the Spinifex Ridge molybdenum operation to be an economic proposition sooner or later.
cheers, CS
MOL Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
