RE:Holy moly! $32.20 moly for January futuresNotYourSheep,
In all honesty, I expect to see some sort of retracement in the price of moly in the coming weeks. When? Who knows ..... and how high does moly run prior to a correction .... but I would not be surprised to see a consolidation of the recent upward price movement bottoming out around US$25.00 to $26.00 / lb.
In my opinion, Stuhini's Ruby Creek moly deposit is very economical at US$25.00 /lb.
https://www.stuhini.com/031522-news-release Estimated mining and processing costs at Ruby Creek come in around US$9.00 / lb including roasting costs.
As for CAPEX expense for a processing plant ...... there is no updated Preliminary Economic Analysis or scoping study for the Ruby Creek project, as of yet.
However, Greenland Resource (MOLY) issued a Feasibility Study on their Malmbjerge pure moly deposit in Greenland back in early 2022. That study provided a US$820 million price tag for a processing plant and tailings infrastructure with an additional US$218 million sustaining capex cost for a total of US$1.038 Billion.
https://www.greenlandresources.ca/data/pdfs/Malmbjerg-FS-Report-1.pdf Go to page 37 of the Feasibility Study
Due to Malmbjerge's remoteness, I would suspect that the road accessible Ruby Creek moly deposit will be less expensive for both CAPEX and operations in comparison.
Perhaps metals investors are cluing in on the potemtial deficit in moly production compared to demand over the next 4 - 5 years.
Add in that the only current pure moly mine in the western nations, the Climax Mine in Colorado, is in the last two or three years of production. On the other hand, as the moly price increases, copper mines, from which most moly production comes from as a by-product, become more profitable.
BRICS nations, in particular China, have begun hoarding strategic metals, not just gold and silver. The BRICS nations are expanding their membership, (to include most, if not all, OPEC members) and will be transacting business without the use of the US Dollar for international payment settlement .
BRICS nations will be using their own payment system that has been developed by China ... "CIPS" .... as the US dominated ...."SWIFT" ..... payment system has been increasingly weaponized against any nation(s) that are not abiding by U.S. Administration dictates. The rest of the world is gerowing tired of U.S. foreign policy. A new BRICS nations currency will be backed by a basket of commodities, unlike the U.S. and western nations fiat currencies which are backed by nothing but the faith and confidence in the governments.
GLTA !