worlds largest producer by 2013, page-4

Extrapolating todays announcement....
Moly Mines (ASX, TSX: MOL) has made its third shipment of iron ore fines from Port Hedland destined for China, with an estimated value of US$11,232,320.

"The company expects final pricing to be in the range of US$160-170/T CFR China. The vessel is carrying 70,202 wet metric tonnes of iron ore grading about 60% iron.

Shipments forecasts for the March 2011 quarter have been met and the ramp up of the mine is now complete with production now at a steady state.

There are planned monthly shipments for the remainder of the calendar year with a budget of 820,000 tonnes targeted.

On March 7 Moly secured export for iron ore from the Spinifex Ridge Molybdenum / Copper Project out to September 2015, with access to the Utah Point multi user export facility at Port Hedland.

This agreement secures cash flows over the medium term from the project, and supplies funding for ongoing exploration and development.

Moly also made a US$10.3m shipment of Spinifex Ridge iron ore fines destined for China on Friday 25th February.

The company now expects the Spinifex Ridge mine production rate to reach 1 million tonnes per annum early in the second quarter, well ahead of the planned date of July 2011."

That 1 million tonnes of iron ore translates into about sales of US$150 +++ million dollars per annum minus costs but hay, why isnt anybody out there getting excited.
Some similar sized companies with much smaller cash flows often jump considerably on news like todays.


AND tell me, that somebody? isnt playing the selling down game.
It was an interesting week last week with some nice BIGGER buyer - buying a fews nice 50000 plus parcels continuously , could they also be someone trying to force the price down to get value again? Hmm.

And last -
latest news ... Spot iron ore regains momentum on Chinese restocking
29 March 2011
"Spot iron ore prices rose a $1 on Tuesday on a renewed bout of Chinese restocking, with prices set to rise further as traders start to play coy and sit on stocks. Prices for 63.5% Indian fines increased to $175-176 per tonne cfr main Chinese ports, with offers racing to a mainstream $177-178 cfr"
Is iron ore racing back to US$200? tonnee.
Definately good now that the ORE is MOVING from Spinifex.