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timhyma

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timhyma

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Thursday, 06/25/2015 7:06:40 AM

Thursday, June 25, 2015 7:06:40 AM

Post# of 120381
The sector is showing pain: Molycorp has filed for Chapter 11 bankruptcy protection along with its North American subsidiaries to restructure $1.7B of debt in its U.S. and Canadian operations. The company has also obtained agreement for up to $225M in new debtor-in-possession financing. The plan marks a dramatic turn for Molycorp (NYSE:MCP), which rode temporary concerns of a shortage in rare earths elements to a $6B market capitalization in 2011, but has since then faced an oversupplied market.

Small Cap plays: #board-865
Big Board plays: #board-711

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