The next near term moly producer with problems...Hi there,
earlier this week it was Moly Mines, now it's Adanac that has financing problems. Good for TCM!
Trouble in the financial markets hits Ruby Creek moly project
LONDON 20-Mar-08. Canadian prospective producer Adanac Molybdenum continues to experience delays in securing financing for its $650 million Ruby Creek molybdenum project.
The company had originally hoped to have financing in place before the end of February, but, as financial markets took a hit, the timetable then shifted to March and currently the situation is still uncertain.
In January the company announced that it had temporarily suspended its field construction activities at the project near Atlin, British Columbia, pending the putting into place of a bridge financing which is being negotiated by its financial agents.