Molycorp.Inc. (fka MCPIQ)

[DownWithPumpers]

Good info but ultimately the problem for Molycorp comes from the fact that they didn't raise money from selling shares when it was over 70 dollars per share. Presumably the execs didn't want to harm their stock options.

Instead they created a company that's so debt-ridden that they're basically doomed to bankruptcy some day. They only have the slimmest chance of ever breaking even and zero chance of earning enough to pay down more than a billion dollars in debt.

When they took the company public a few years ago they must have known that the business wasn't profitable. That's why they sold-out to an unsuspecting public.

You write about how environmentally destructive the mining is. When Molycorp IPOd they claimed to be a GREEN company.

Intersting article: http://gigaom.com/2010/07/29/molycorp-ipo-raises-394m-for-greentech-metals/