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$MCP UP .74 in pre-market! BOOM!!!!

Molycorp Selected by Siemens to Provide Rare Earths for Wind Turbine Generators - Shares Soaring Nearly 40% in Pre-Market

07:27 AM EDT, 04/15/2015 (MT Newswires) -- Molycorp (MCP), a rare earth oxide (REO) producer, said Wednesday that it has been selected by Siemens AG to supply rare earth materials over the next 10 years from its Mountain Pass, California facility for incorporation into Siemens' high-efficiency, direct drive wind turbine generators.

Molycorp said it will supply rare earth materials to Shin-Etsu Chemical Co., Ltd. which will produce the rare earth magnets Siemens intends to utilize in its wind turbines.

Siemens said that the magnets to be used in its direct drive wind turbines will contain reduced levels of heavy rare earth elements (HREEs), such as dysprosium. In collaboration with Siemens Wind Power, Molycorp and Shin-Etsu will improve the magnet material to reach zero HREEs. At the same time, Siemens added, supply chain reliability will be increased and costs will be reduced.

Shares are up 38% at $0.74 in pre-market trading, with a 52-week range of $0.28 - $5.15.

Price: 0.74, Change: +0.20, Percent Change: +37.98

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