The reply back to Moly Mines.Dear Natalie,
It is greatly appreciated that you have taken the time to respond to my email. As you are aware, my dollar investment in MOL is substantial. Something in the range of $100,000.00 CAD and all out of my pocket with after tax dollars. That investment tonight is a disappointing and frustrating $15000.00. The first portion of that money was invested based on MOL Managements' belief in the future and their bountiful forecast at the time and after hours of my due diligence prior to buying. A second portion of that investment was placed after the precipitous fall in share price only to cost average on the initial cash investment and to toss the coin so to speak at getting back to a break even position some day. So it should be understood that I have a vested interest in MOL doing well and you must appreciate my disappointment with MOLY Mines Managements ability to safe guard shareholder value these past years. With that said we shareholders expect MOL Mines to focus on getting shareholder value back into this company.
We do applaud you for not entering into the first phase of the Spinifex Ridge Molybdenum project or we would surely deserve the .115 cent stock price today. This molybdenum reserve has been valued at zero dollars by the market since my first cash investment was made in MOL. Why is this true so many years later? The question has been discussed numerous times on stock boards worldwide with no conclusive answer. The market even refuses to accept our face value equal to cash in bank! Inconceivable!
It is also confusing that the cash in bank stash which MOL has control of is not being used to purchase a good portion of outstanding shares. The question begs to be asked! The future endeavours of MOL is hopefully being focused on solid value added projects. So much time has passed here with little and no activity seen from within your structure it makes an investor feel that Hanlong will short change us shareholders at some point. When Hanlong gained controlling interest in MOL, investors felt that they received the less attractive side of the deal. As noted to me in my early years "when two people make a deal usually only one gets it" and that seems to be ringing true here. It is certainly a point of contention for us to this day. One possibly could think Moly Mines would see their share price as being a very attractive buy at this level. Surly a greater return to be had on these shares than most any project in a foreign country!! As noted in my email, Morning Star, has an overvalued rating on MOL at this time when it as .115 cents CAD, not that it matters much but it should be damn embarrassing to MOL Mines! I know it is for me!
It is deeply hoped that the small shareholder here gets recognized by the Hanlong Group and MOL Mines in their future business with this company. I think I speak for all long term shareholders when I say this. The share price collapse and the lack of interest in buying these shares back is certainly of concern. There is no balance in this equation when you see the numbers at present and no words of comfort from your management team. Perhaps they can elaborate on the reason or reasons why.
I expect that your reply can be posted on the Stcokhouse web site, as it carries no information that can be discerned as insider information in my opinion. The points offered should offset some email and phone traffic to and from your office. The existing stockholders wish Moly Mines the very best in all their future endeavours. Again , the prompt response is appreciated.
Best Regards ,
narmac