Created: 05/04/2007 04:43:27 PM -
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MLY is an investment holding company created to invest in molyddenum assets.
Shares issued: 41,776,000. April 16 2007: starts trading on the TSX.
SPROTT MOLYBDENUM PARTICIPATION CORPORATION ANNOUNCES NET ASSET VALUE AS AT APRIL 20, 2007
Sprott Molybdenum Participation Corp.'s net asset value as at April 20, 2007, is $220-million or $5.27 per common share. The fair market value of securities of companies that explore for, mine and/or process molybdenum held by the corporation is $131-million and $105-million is invested in cash and money market securities. Gross appreciation in the value of portfolio investments since Jan. 1, 2007, is $34-million.
The investments made by the corporation to date were primarily purchased on a private placement basis and are therefore subject to certain hold periods pursuant to applicable securities laws. While these investments are restricted from resale, the securities will be valued at a price that is discounted from the market price of such securities. The total discount from market price is approximately $31-million before income taxes and fees.
The corporation calculates its net asset value and the fair market value of the portfolio investments at 4 p.m. ET on the last day of each week that the Toronto Stock Exchange is open for business.
TOP 10 HOLDINGS (AS AT APRIL 20, 2007)
1. Blue Pearl Mining Ltd.
2. Idaho General Mines Inc.
3. Roca Mines Inc.
4. Mercator Minerals Ltd.
5. Moly Mines Ltd.
6. International PBX Ventures Ltd.
7. Torch River Resources Ltd.
8. Virgin Metals Inc.
9. Inca Pacific Resources Inc.
10. Western Troy Capital Resources Inc.
As at April 20, 2007, the corporation has entered into commitments to invest a total of $25.5-million in additional portfolio investments. The corporation is also currently in negotiations to purchase physical molybdenum.