Post by
gpwild on Jun 07, 2021 8:48pm
Huge Jump In Moly Prices
Moly closed last Friday at 14.35 and closed today at 16.38 a pound. About a jump of 14%. (It traded at a low of 13.85 last week before turning higher)
https://www.lme.com/en-GB/Metals/Minor-metals/Molybdenum-Platts#tabIndex=0
Copper and Moly prices are now above the spot prices used to calculate the 500 million NAV value of El Creston. That doesn't even factor in the undisclosed drill results on the gold.
What's interesting that is that the Moly producers have apparently been doing what a lot of people have been calling for the silver miners to do...withold part of their production from the LME (or comex) to put pressure on futures.
Comment by
MissStock111 on Jun 07, 2021 9:30pm
Anyone knows if management plans to do something about this to unlock some value? Seems like now would be a good time to move forward
Comment by
gpwild on Jun 08, 2021 9:21am
I don't really invest based off charts and technical theories so I might have the terminology wrong but when you look at the 10 year Moly chart you what is a decade long "cup" formation which tends to be super bullish.
Comment by
gpwild on Jun 08, 2021 7:47pm
Another small increase today. Closed at 16.43. Thought it would pullback after rising 14% in a day. (14.35 to 16.38) Guess not!
Comment by
gpwild on Jun 09, 2021 7:22pm
Moly up again today to close at 16.80 Up 17% so far this week. https://www.lme.com/en-GB/Metals/Minor-metals/Molybdenum-Platts#tabIndex=0 How can a commodity rally almost 20% in 3 days and not generate any news articles? If this was silver/gold/oil/stocks people would be euphoric.
Comment by
gpwild on Jun 10, 2021 7:34pm
Moly keeps going parabolic. Up another 4.75% today to 17.60 https://www.lme.com/en-GB/Metals/Minor-metals/Molybdenum-Platts#tabIndex=0 Moly prices are up 22.65% so far this week. Could rally further tomorrow. (Closed last wek at 14.35)