Teck Cominco Moly prod expected to DROP in'06Well, I gave TraderDad time to post what he posted on another site here...
Another TraderDad's post, but not posted here...Why?...HMMMM....Agenda?
From Teck Cominco's news release today"
" Zinc concentrate is expected to dip slightly to 650,000 tonnes from 657,000 tonnes. Molybdenum production is expected to drop from 9.48 million pounds to 6.73 million pounds. "
Remember, Phelps Dodge production of Mo also dropped in Q4 of last year.
So, if Mo production is falling from major companies, and demand is increasing worldwide (esp China/India), what effect do you suppose it will have on Mo prices going forward ? What effect do you suppose it will have on advanced jr moly companies like (that are starting 1000 tpd Moly PRODUCTION with PROFIT$ like UNITED BOLERO, not the multi-year dream of) Adanac ?
p.s. Here's the real text from page 11:
The company’s share of estimated 2006 production volumes for its major products are as follows:
2005 Actual 2006 Plan
Refined zinc (000’s tonnes) 223 295
Refined lead (000’s tonnes) 69 95
Zinc in concentrate (000’s tonnes) 657 650
Lead in concentrate (000’s tonnes) 110 115
Copper in concentrate (000’s tonnes) 263 265
*****Molybdenum (000’s pounds) 9,482 6,730 <----- PRODUCTION DOWN!!!
Gold (000’s ounces) 245 440
Metallurgical coal (000’s tonnes)* 9,948 10,350
https://www.teckcominco.com/news/06-archive/4q2005financials.pdf