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Wiping out the common and reorganizing doesn't mean they couldn't maintain their agreement, keep that in mind. It probably would make them more likely to uphold their end of the agreement, as the debt concerns would be alleviated. Common doesn't get anything though.
Yes, unless in the very highly unlikely scenario that there is a news release of some sort.
Weak performance on Friday means pps is going lower this week. Don't buy until sub 0.5.
LOL!
Book value is meaningless here because every penny would used to pay their debt in a liquidation default scenario. Oaktree has claims to some of the assets as collateral against the loan. Book value is really not a good indication of pps here, imo stock is worth closer to $10/sh for speculation of a significant recovery. However, I hope it drops back to 0.30s again so I can ride another wave. Has been great money so far and if I miss the boat oh well!
...and the point being?
Maybe... but not really. I mean, they might mine like 0.3% of some HREE that is a type of HREE used in defense tech. Check out their last report it has the entire listing of REE content they dig up. Then look up the type of REE to see its applications. I'd do it for you but I really don't care to educate all of the newcomers as they seem to be mostly traders who showed up out of the blue.
Unfortunately MCP doesn't mine or sell any of the REEs used in weapon systems. All of MCPs REEs are for commercial application, and most if not all are LREE, the lowest value.
If you want to get on board with the mandate, I'd recommend UURAF or TRER, both American, both low pennies, and both lots of potential for HREEs, which is what is used in the weapon systems.
Sold my position at $1 exactly. Will buy again if the circumstances are right, at around 0.35.
Nice ride so far, gl to everyone sticking it out, I hope you make a fortune.
Taking a sharp dive... Could close red today
Siemens didn't just pick any REE facility, they selected MCP because:
"Siemens officials noted that key factors in choosing Molycorp were Molycorp's ability to provide greater global diversification and reliability to its supply chain, as well as the environmental and process innovations Molycorp has built into its Mountain Pass rare earth facility."
Molycorp is probably selling the material at a premium if it's specifically for environmental end goal because Siemens will charge more for their turbines and customers will pay!
That means more green for the customer, more green for Siemens, more green for MCP, more green for longs, and NOTHING BUT RED FOR SHORTS.
Where do we close today? $2 or $3?
Two pieces of good news out today:
1. http://www.supplymanagement.com/news/2015/rare-earth-prices-rise-on-market-recovery
2. http://ih.advfn.com/p.php?pid=nmona&article=66416348&symbol=MCP
GLTA
A whopping $11,000 traded today... equates to a couple retail traders per day of activity...
They're nearly bankrupt.
.0048!? That's a great deal with the stock currently valued at .48!
This stock trades approximately $9,000 a day... chump change LOL
Everything I wrote IS my own DD... period.
I stand by my opinion to buy anything under 0.50. However, if we're adding information to the board info box then we should be fair about it and also list the things that are of concern, not only the things that are positive.
Debt is the primary thing holding this stock down, and uncertainty of being able to continue as a going concern, as stated in the recent conference call.
Likewise, the stock may endure a reverse split in the near future, as it is quickly approaching the end of the noncompliance period where if it does not average over $1 per share for a month it will be delisted from the NYSE. This was also stated in the recent conference call.
If rare earth prices do not go up significantly, these two items will continue to weigh heavily on the stock price and bankruptcy will continue to be a serious concern.
Please also add the current debt load and the fact that the company only sells the lowest valued rare earth elements (LREEs) Ce and La and not only a very small percentage of Nd and Pr... barely any HREE to speak of.
Thanks,
Wow, bunch of new posters from out of the blue. Welcome.
This thing is going to 0.0001
Jack knows his S.
Good things come to those who wait!
Getting close to bankruptcy.
RARE EARTHS:
Molycorp woes cast shadow over U.S. mining efforts
Manuel Quiñones, E&E reporter
Greenwire: Monday, March 23, 2015
TUNG is one dude sitting at a desk waiting for the phone to ring.
Great buying opportunity today! Load the truck!
In addition, on December 30, 2014, we received notice that we are not in compliance with the continued listing standards of the NYSE because the current trading price for our common stock is below the minimum listing requirements. We are taking actions to meet the compliance standards for continued listing on the NYSE, and are considering seeking approval from our stockholders for a reverse stock split as an alternative means of regaining compliance with the minimum share price requirement. However, we cannot guarantee that we will be able to meet the necessary requirements for continued listing, and, therefore, we cannot guarantee that our common stock will remain listed for trading on the NYSE.
Volume won't hit. Ever.
There is no future for this company.
TT
Fidelity is allowing me to place trades at market, but they refuse to remove, transfer, or issue paper certificates, which is too bad because at least they would have some small value associated with wiping my arse with them or using them to start a fire in the fireplace.
New York (March 13, 2015, 3:22 PM ET) -- A New York federal judge on Thursday dismissed claims against mining outfit Molycorp Inc. accusing the company and its executives of misleading investors over a bid to modernize and reopen a long-closed mine in California and other business prospects, saying the plaintiffs were essentially pleading “fraud by hindsight.”
How's that MCP buyout going for you TUNG?
LOLLLL
1,480 shares traded...
I'm holding a small position and may add more if it dips below 0.21
It already is a NYSE stock, and is fighting to remain a NYSE stock.
This week*