Molybdenum Price at 13 year highMoly has been moving back up over the past few months after pulling back from US$20 / lb earlier this year.
Current quote
US$23.78 / lb for the one month contract
US$22.71 / lb for the 2 - 15 month contract
https://www.lme.com/en/metals/ev/lme-molybdenum-platts#Trading+day+summary US$22.71 × $1.365 exchange x 478 million lb pit constrained resource = C$14.8 Billion in situ value for the Ruby Creek moly deposit.
With Zijin Mining purchasing the world's largest pure moly deposit (Shapinggou) a couple months ago at an approx price of US$0.16 / lb or C$0.215 / lb. ..... which would equate to just over C$100 million for the Ruby Creek moly deposit .... the market now has a known price for a pure moly deposit.
After the current private placement closes and this year's option payment for Ruby Creek is made, Stuhini will have a little over 35 million shares outstanding and just under 3 million warrants exercisable at $0.60 and $0.35.
Some major miner is going to buy out the Ruby Creek deposit sooner or later, or at least come in as a strategic investor.
Eric Sprott doesn't miss too many good opportunities ...... adding to his already significant position with Stuhini in the current private placement speaks volumes.
GLTA !