Actually, this article was posted on the board last week when it came out. This is the second or third bashing article by Seeking Alpha since the 60 minutes piece came out.
Molycorp was notified on December 30, 2014 of being non compliant with the NYSE. They have 6 months to become compliant. That's June 30, 2015. Plenty of time still to get over $1.00 and stay there for 30 consecutive days.
Molycorp, Inc. Receives Continued Listing Standards Notice from NYSE
9:03 am ET January 2, 2015 (Benzinga) Print
Molycorp, Inc. (NYSE: MCP)
(the "Company") announced today that on December 30, 2014, the Company
was notified by the New York Stock Exchange ("NYSE") that the Company's
common stock is not in compliance with the NYSE's continued listing
standard that requires a minimum average closing price of $1.00 per
share over a period of 30 consecutive trading days.
Under the NYSE's rules, the Company has a period of six months from the
date of the NYSE notice to bring its 30-day average share price back
above $1.00. During this period, the Company's common stock will
continue to be traded on the NYSE, subject to the Company's compliance
with other NYSE listing requirements. The Company will notify the NYSE
of its intent to cure this deficiency.
The Company's business operations, reporting requirements, credit
agreements, and other debt obligations currently are unaffected by this
notification.
