Does anyone have an opinion on Roxmark Mines Ltd and the metal molybdenum?
Here's a link that gives it consideration:
http://www.321gold.com/editorials/moriarty...arty042006.html
Full Version: Whatever happened to MolyMania?
I am very keen on Moly, and Roca Mines.
There is a good thread on Advfn on MOLY:
http://www.advfn.com/cmn/fbb/thread.php3?id=1959666
There is a good thread on Advfn on MOLY:
http://www.advfn.com/cmn/fbb/thread.php3?id=1959666
Thanks for this and the related THR thread. I've put ROK and THR on my watch list.
Here is an exciting molybdenum project in Canada.
http://www.westerntroy.com/
http://www.westerntroy.com/
it may have trouble beating Roca mines (v.ROK) ... update
I was lucky enough to buy in a pp at $0.20, with $0.25 warrants.
what's the story with Western Troy?
I was lucky enough to buy in a pp at $0.20, with $0.25 warrants.
what's the story with Western Troy?
((Moly mania is back, it seems... Stockhouse story))
Molybdenum price soars due to supply and demand
Highlights:
International PBX Ventures Ltd. (TSX: V.PBX, BullBoards)
Roca Mines Inc. (TSX: V.ROK, BullBoards)
...between 2002 and 2004, moly's average monthly price jumped about 1600% from $2 a pound to the $35 benchmark. The reasons for this are debatable. Some analysts argue that :
+ Chinese molybdenum exports to Europe (which had in 2004 gained 10 new countries), were slashed due to European anti-dumping regulations, resulting in a frustrated market.
+ a lag in European production, with manufacturers buying repeatedly throughout the year to maintain steel and other production levels.
+ U.S. economy ... finally switched into high gear in early 2004, putting pressure on low production and reserves both domestically and internationally. Indeed molybdenum demand in the U.S. was 12.5% higher in the first two quarters of 2004 as compared to 2003.
...Why then has the price of molybdenum not retreated past $25 since 2005?
1/ demand for moly has grown exponentially over the past couple decades from 150 million lbs/year in 1982 to well over 300 million lbs/year today.
2/ Production of moly remains precariously close to demand, and has in some years even failed to keep up. In 2002, demand outstripped production by about four million pounds. ...limited by the capacity of moly roasters (an essential step in the vast majority of moly production / Molybdenum is inimitable, i.e., not readily substitutable.
3/ demand: Oil and gas pipelines, stainless steel, tools and high-speed steel, lubricants and pigments all use molybdenum. ...demand for moly will continue to rise at least 6% annually for the foreseeable future.
: 50,000 - 100,000 kilometers of new pipeline worldwide within the next two decades. This translates into somewhere between 300 and 600 million pounds of moly, which is on the conservative side at least as much as moly as was produced in all of 2005.
Here's a snapshot of two juniors on my radar: International PBX Ventures Ltd. and Roca Mines Inc.
= =
International PBX Ventures Ltd. (TSX: V.PBX) - http://www.internationalpbx.com
One of the better ground floor molybdenum opportunities out there right now is International PBX (TSX: V.PBX, BullBoards). The company has several ongoing drilling projects in Chile. Most relevant here is the molybdenum-copper deposit in the Cerry Moly zone of the company's Copaquire property in northern Chile.
This property, though not yet NI 43-101 compliant, was twice previously estimated to contain a massive deposit of between 30 and 50 million tons grading between 0.13% and 0.15% molybdenum and .20% copper. This is at least on par with other deposits of its kind such as Red Bird (34 Mt at 0.108 % Mo), Trout Lake (50 Mt at 0.138 % Mo) and East Kounrad (30 Mt at 0.150 % Mo) to name but a few.
Even if International PBX realizes a recovery rate of 80%, the company could net 60,000 tons (120 million lbs) molybdenum worth somewhere in the neighborhood of $3 billion over the course of the mine's life. And, of course, this doesn't account for the value of the copper at Copaquire or any of the company's other holdings.
By comparison, Moly Mines' Spinifex Ridge Molybdenum-Copper project in Australia is considered "world class" with a larger ore body (500 million tons) but grades lower at 0.06% molybdenum and 0.09% copper. This indicates that as long as PBX can fund their ongoing exploration model, and if the historical resource estimates are anywhere near correct, PBX could be as little as 18 months away from seeing astronomical growth in share value.
Keep your eye on this one.
Roca Mines Inc. (TSX: V.ROK) - http://www.rocamines.com
Production is imminent at Roca Mines' MAX molybdenum project, about 36 miles south of Revelstoke, British Columbia. According to Chief Executive Scott Broughton, "We broke ground in May and have fast-tracked the engineering project to production."
Roca is currently performing underground development work at MAX, which includes the mining of ore-grade material that is being stockpiled on site until the company's mill has been upgraded.
The MAX deposit is NI 43-101 compliant, with a resource of 113 million pounds. It is also open at depth, and Roca hopes to further explore the deposit in 2007. Analysts (such as Sprott Assent Management) and small-cap reporters (StockIntervew.com, MicroCapMayhem) following the project have pointed out the similarities between this deposit and Phelps Dodge's Urad/Henderson mine, which is to date the world's largest molybdenum deposit.
Another upside to the Roca project is that the company's share dilution is minimal. The company plans to mine its high-grade molybdenum deposit using its cash flow and further explore the property's potential for a much larger deposit.
Take a good look at the company's chart. There is strong indication that this uptrending junior is an excellent prospect.
...continues: http://www.stockhouse.ca/shfn/editorial.as...8968&page=2
Molybdenum price soars due to supply and demand
Highlights:
International PBX Ventures Ltd. (TSX: V.PBX, BullBoards)
Roca Mines Inc. (TSX: V.ROK, BullBoards)
...between 2002 and 2004, moly's average monthly price jumped about 1600% from $2 a pound to the $35 benchmark. The reasons for this are debatable. Some analysts argue that :
+ Chinese molybdenum exports to Europe (which had in 2004 gained 10 new countries), were slashed due to European anti-dumping regulations, resulting in a frustrated market.
+ a lag in European production, with manufacturers buying repeatedly throughout the year to maintain steel and other production levels.
+ U.S. economy ... finally switched into high gear in early 2004, putting pressure on low production and reserves both domestically and internationally. Indeed molybdenum demand in the U.S. was 12.5% higher in the first two quarters of 2004 as compared to 2003.
...Why then has the price of molybdenum not retreated past $25 since 2005?
1/ demand for moly has grown exponentially over the past couple decades from 150 million lbs/year in 1982 to well over 300 million lbs/year today.
2/ Production of moly remains precariously close to demand, and has in some years even failed to keep up. In 2002, demand outstripped production by about four million pounds. ...limited by the capacity of moly roasters (an essential step in the vast majority of moly production / Molybdenum is inimitable, i.e., not readily substitutable.
3/ demand: Oil and gas pipelines, stainless steel, tools and high-speed steel, lubricants and pigments all use molybdenum. ...demand for moly will continue to rise at least 6% annually for the foreseeable future.
: 50,000 - 100,000 kilometers of new pipeline worldwide within the next two decades. This translates into somewhere between 300 and 600 million pounds of moly, which is on the conservative side at least as much as moly as was produced in all of 2005.
Here's a snapshot of two juniors on my radar: International PBX Ventures Ltd. and Roca Mines Inc.
= =
International PBX Ventures Ltd. (TSX: V.PBX) - http://www.internationalpbx.com
One of the better ground floor molybdenum opportunities out there right now is International PBX (TSX: V.PBX, BullBoards). The company has several ongoing drilling projects in Chile. Most relevant here is the molybdenum-copper deposit in the Cerry Moly zone of the company's Copaquire property in northern Chile.
This property, though not yet NI 43-101 compliant, was twice previously estimated to contain a massive deposit of between 30 and 50 million tons grading between 0.13% and 0.15% molybdenum and .20% copper. This is at least on par with other deposits of its kind such as Red Bird (34 Mt at 0.108 % Mo), Trout Lake (50 Mt at 0.138 % Mo) and East Kounrad (30 Mt at 0.150 % Mo) to name but a few.
Even if International PBX realizes a recovery rate of 80%, the company could net 60,000 tons (120 million lbs) molybdenum worth somewhere in the neighborhood of $3 billion over the course of the mine's life. And, of course, this doesn't account for the value of the copper at Copaquire or any of the company's other holdings.
By comparison, Moly Mines' Spinifex Ridge Molybdenum-Copper project in Australia is considered "world class" with a larger ore body (500 million tons) but grades lower at 0.06% molybdenum and 0.09% copper. This indicates that as long as PBX can fund their ongoing exploration model, and if the historical resource estimates are anywhere near correct, PBX could be as little as 18 months away from seeing astronomical growth in share value.
Keep your eye on this one.
Roca Mines Inc. (TSX: V.ROK) - http://www.rocamines.com
Production is imminent at Roca Mines' MAX molybdenum project, about 36 miles south of Revelstoke, British Columbia. According to Chief Executive Scott Broughton, "We broke ground in May and have fast-tracked the engineering project to production."
Roca is currently performing underground development work at MAX, which includes the mining of ore-grade material that is being stockpiled on site until the company's mill has been upgraded.
The MAX deposit is NI 43-101 compliant, with a resource of 113 million pounds. It is also open at depth, and Roca hopes to further explore the deposit in 2007. Analysts (such as Sprott Assent Management) and small-cap reporters (StockIntervew.com, MicroCapMayhem) following the project have pointed out the similarities between this deposit and Phelps Dodge's Urad/Henderson mine, which is to date the world's largest molybdenum deposit.
Another upside to the Roca project is that the company's share dilution is minimal. The company plans to mine its high-grade molybdenum deposit using its cash flow and further explore the property's potential for a much larger deposit.
Take a good look at the company's chart. There is strong indication that this uptrending junior is an excellent prospect.
...continues: http://www.stockhouse.ca/shfn/editorial.as...8968&page=2
Is it coming back?
Moly producers predict prices of US$19 per pound, say demand to be led by China
By Kristine Owram (CP) – Jul 21, 2009
TORONTO — Explosive Chinese growth over the next 15 years will bring tightness back to the molybdenum market that's been hit hard by the global recession, say producers of the metal used to strengthen steel.
However, industry players say it's unlikely moly prices in the foreseeable future will return to highs of US$25 to $35 per pound that were common before the global economy sank last fall.
Norman Ting, managing director of metal-trader Wogen Pacific Ltd., predicted Chinese demand will send moly prices - which have already climbed from lows of approximately $8 per pound to above $12 per pound - to between $18 and $19 a pound on Chinese stimulus spending.
However, he cautioned that the rising price will push many profit-takers to sell their moly assets, leading to volatility in the near term.
"Overall I say there will be some volatility in the moly market but once the market makes an adjustment, a correction, I think that the demand will still make sure the price will continue to go up," Ting said Tuesday at a molybdenum conference hosted by Desjardins Securities.
Several high-cost moly producers shut down their operations when the price of the mineral plunged late last year. As the price begins to rise again, these producers will re-start production, creating a natural ceiling, said Mark Selby, vice-president of business planning and market research at Quadra Mining Ltd. (TSX:QUA), a base-metal miner with a moly project in Greenland.
The speed with which high-cost producers can re-enter the market is the "main issue" affecting price, agreed Mark Wilson, vice-president of sales and marketing at Thompson Creek Metals Co. Inc. (TSX:TCM), one of the largest publicly traded molybdenum producers in the world.
North American demand for the mineral used to produce alloyed steel and high-end stainless steel will likely remain weak in the short-term as economic uncertainty continues to hurt the construction, hydrocarbon and automotive industries that rely on moly-strengthened steel.
This is why Chinese demand is so important to the global moly market, said Derek Fisher, CEO of Moly Mines Ltd. (TSX:MOL), an Australian company whose main asset is the Spinifex Ridge molybdenum and copper mine in Western Australia.
Fisher said China's population is expected to grow by 300 million in the next 10 to 15 years, and one billion Chinese will live in cities by 2025. To fuel that growth, it's expected that 170 mass transit systems, 40 billion square metres of floor space and 50,000 skyscrapers - the equivalent of 10 New Yorks - will be built in China over the next 15 years.
"China will never source the metal for all that development internally. It's got to go elsewhere," he said.
"If I had the money I'd be going out there and buying up every undeveloped, sub-economic resource in the world I could lay my hands on. This is going to drive metal prices into the future in an extraordinary way."
Although China has 30 per cent of the world's molybdenum resources, it won't be able to keep up with demand internally, agreed Ting.
"Fundamentally I think China's lack of moly resources and the demand for stainless steel is still fairly healthy, so it will continue to grow for some time to come," he said.
The price of moly will be further bolstered by a lack of supply, said Scott Broughton, president and CEO of Roca Mines Inc. (TSXV:ROK), which owns the MAX moly mine in British Columbia.
"It's pretty obvious that the supply is dependent on a lot of mature and byproduct producers. There is a lack of supply on new mines," Broughton said, adding that he has seen first-hand the improvement in demand for moly.
"We've received a lot of calls and a lot of visitors at our door asking about offtake and wondering how much of the material they can acquire, and we haven't had that, frankly, for the better part of a year and a half or so," he said.
Molybdenum futures will be traded on the London Metals Exchange beginning in 2010, the first time the mineral has been traded on a public exchange.
Producers expressed concern that this will encourage speculation, making the price of moly even more volatile than it's been in the past.
"I just hope that the industry, both producers and consumers, put a significant amount of liquidity into this market, because without that liquidity - you think it was volatile before, just wait until it starts trading into a very thin market," said Quadra's Selby.
Molybdenum is used as an alloy and anti-corrosion agent in stainless steel and has other industrial uses. Like other specialty minerals, demand has been hurt by the slump in the steel sector caused by the worldwide recession, which has reduced demand from the auto, appliance, construction and capital goods industries.
Ends
Found this google searching, don't know if anyone else following the story. Know myself and the good Dr in Roca
Moly producers predict prices of US$19 per pound, say demand to be led by China
By Kristine Owram (CP) – Jul 21, 2009
TORONTO — Explosive Chinese growth over the next 15 years will bring tightness back to the molybdenum market that's been hit hard by the global recession, say producers of the metal used to strengthen steel.
However, industry players say it's unlikely moly prices in the foreseeable future will return to highs of US$25 to $35 per pound that were common before the global economy sank last fall.
Norman Ting, managing director of metal-trader Wogen Pacific Ltd., predicted Chinese demand will send moly prices - which have already climbed from lows of approximately $8 per pound to above $12 per pound - to between $18 and $19 a pound on Chinese stimulus spending.
However, he cautioned that the rising price will push many profit-takers to sell their moly assets, leading to volatility in the near term.
"Overall I say there will be some volatility in the moly market but once the market makes an adjustment, a correction, I think that the demand will still make sure the price will continue to go up," Ting said Tuesday at a molybdenum conference hosted by Desjardins Securities.
Several high-cost moly producers shut down their operations when the price of the mineral plunged late last year. As the price begins to rise again, these producers will re-start production, creating a natural ceiling, said Mark Selby, vice-president of business planning and market research at Quadra Mining Ltd. (TSX:QUA), a base-metal miner with a moly project in Greenland.
The speed with which high-cost producers can re-enter the market is the "main issue" affecting price, agreed Mark Wilson, vice-president of sales and marketing at Thompson Creek Metals Co. Inc. (TSX:TCM), one of the largest publicly traded molybdenum producers in the world.
North American demand for the mineral used to produce alloyed steel and high-end stainless steel will likely remain weak in the short-term as economic uncertainty continues to hurt the construction, hydrocarbon and automotive industries that rely on moly-strengthened steel.
This is why Chinese demand is so important to the global moly market, said Derek Fisher, CEO of Moly Mines Ltd. (TSX:MOL), an Australian company whose main asset is the Spinifex Ridge molybdenum and copper mine in Western Australia.
Fisher said China's population is expected to grow by 300 million in the next 10 to 15 years, and one billion Chinese will live in cities by 2025. To fuel that growth, it's expected that 170 mass transit systems, 40 billion square metres of floor space and 50,000 skyscrapers - the equivalent of 10 New Yorks - will be built in China over the next 15 years.
"China will never source the metal for all that development internally. It's got to go elsewhere," he said.
"If I had the money I'd be going out there and buying up every undeveloped, sub-economic resource in the world I could lay my hands on. This is going to drive metal prices into the future in an extraordinary way."
Although China has 30 per cent of the world's molybdenum resources, it won't be able to keep up with demand internally, agreed Ting.
"Fundamentally I think China's lack of moly resources and the demand for stainless steel is still fairly healthy, so it will continue to grow for some time to come," he said.
The price of moly will be further bolstered by a lack of supply, said Scott Broughton, president and CEO of Roca Mines Inc. (TSXV:ROK), which owns the MAX moly mine in British Columbia.
"It's pretty obvious that the supply is dependent on a lot of mature and byproduct producers. There is a lack of supply on new mines," Broughton said, adding that he has seen first-hand the improvement in demand for moly.
"We've received a lot of calls and a lot of visitors at our door asking about offtake and wondering how much of the material they can acquire, and we haven't had that, frankly, for the better part of a year and a half or so," he said.
Molybdenum futures will be traded on the London Metals Exchange beginning in 2010, the first time the mineral has been traded on a public exchange.
Producers expressed concern that this will encourage speculation, making the price of moly even more volatile than it's been in the past.
"I just hope that the industry, both producers and consumers, put a significant amount of liquidity into this market, because without that liquidity - you think it was volatile before, just wait until it starts trading into a very thin market," said Quadra's Selby.
Molybdenum is used as an alloy and anti-corrosion agent in stainless steel and has other industrial uses. Like other specialty minerals, demand has been hurt by the slump in the steel sector caused by the worldwide recession, which has reduced demand from the auto, appliance, construction and capital goods industries.
Ends
Found this google searching, don't know if anyone else following the story. Know myself and the good Dr in Roca
Roca (ROK.v) had a nice run, and now a pullback.
Sold some of my $0.25 stock 2-3x higher. Kept some too
I also have some VGM.v
Sold some of my $0.25 stock 2-3x higher. Kept some too
I also have some VGM.v
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