RE:Molybdenum Price RangeMoly prices still hovering above US$19.00 / lb
The known in-ground historic resource of 462 million lbs of moly at Ruby Creek is currently worth :
462,000,000 lbs X US$19.08 lb X $1.2570 exchange rate = C$11,080,404,720
That deposit could be much larger yet based on the last dill hole at the extreme west
edge of the resource defined by Adanac Moly Corp more than a decade ago.
Stuhini Exploration market cap is only :
24,162,776 shares O/S X C$0.60 = C$14,497,665
If Stuhini were to sell the Ruby Creek moly asset for only 1% of the current in-ground value of the deposit :
C$11,080,404,720 X 0.01 / 24,162,776 shares O/S = C$4.58 / share
That would be a good chunk of change to pass along to the shareholders and sink into a couple of good exploration drilling campaigns on the Que Project and the more recently acquired South Thompson Nickel Belt and Revelstoke properties.
Tad wrote: It appears that molybdenum has established a new price range of US$18.00 - US$20.00 / lb over the past few months.
After hitting US$20.03 on May 15, the price pulled back to $US$17.84 on July 23. On Sept 2 and 3 closed moly again broke through $20.00 / lb to close at $20.05 / lb, then pulled back to US$18.40 / lb on Oct 4 before starting to rise again and currently trading at US$19.13 / lb.
https://www.lme.com/en/Metals/EV/lme-Molybdenum-Platts#Price+graph It will be interesting to see the economics of the Ruby Creek Moly Project with regards to the metal's recent price range if/when the company gets the resources update.
GLTA !