TSXV:NER.H - Post by User
Post by
dotbombnoton Aug 15, 2008 3:31am
401 Views
Post# 15386544
Moly up?
Moly up?
Moly at 33.85 may see some action in the moly arena!!
Thompson Creek,
Molybdenum has been on a positive trend this year, with shrinking supply and growth in applications extending support.
With a deficit of moly expected over the next fewyears, exploration activities are on a fast track. If you look at thelast three months’ record, activity in this metal has been quitestable. This is a remarkable achievement considering the fact that market eventshave really rattled the cages of most metals in this period. Extendyour frame of reference to the last six months and the result is stillthe same: Moly’s price has been on a consistent rise, fuelled byshrinking supply and expanding demand.
Thompson reports “satisfactory” Q2
Thompson Creek Metals (TSX: T.TCM, Stock Forum)has had a satisfactory Q2, with output up by 70%. Of its three mines,Thompson Creek Mine increased output by 10% and Endako by 12%, ascompared to the same period in 2007.
Second quarter earnings rose to $60.4 million,29% higher than the first quarter of the year, and 6.3% higher than theyear-on-year period. This year, however, the company has witnessed asales decline as a result of a build-up of inventory caused by aplanned maintenance shutdown of its Pittsburg facility. Highermolybdenum prices compensated for the decreased sales volume to givethe company higher profits.
Shares of Thompson Creek Molybdenum slipped onthis news. Although the company looks on target for meeting its 2008production expectations, and profits are up, the increase was lowerthan anticipated. On Friday, at mid-morning, the company’s shares weredown 83 cents at $13.81 on the Toronto Stock Exchange