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OSTrader

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OSTrader

Re: OSTrader post# 5852

Monday, 06/15/2015 10:56:15 AM

Monday, June 15, 2015 10:56:15 AM

Post# of 7522
Molycorp announced today that it has elected to take advantage of the 30-day grace period with respect to the approximately $3.36 million semi-annual interest payment due June 15, 2015 on its 3.25% Senior Unsecured Convertible Notes due 2016, as provided for in the indenture governing the notes.

This election by the Company will not trigger any cross-default provisions in other outstanding Company debt prior to the end of the grace period and should not affect current operation.

As previously disclosed, the Company has retained financial and legal advisors to assist the Company in restructuring its debt. The Company will use the grace period to continue to evaluate different options related to such debt restructuring - http://finance.yahoo.com/news/molycorp-elects-advantage-30-day-130000430.html
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