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Overview of Potential Primary Molybdenum Producers

A few subordinate molybdenum developers were brought to our curiosity during our research in the atomic number 42 market terminated the foregone six months. Not all were built-in in this summary. We reviewed each and are writing them alphabetically, not according to their virtues.

Adanac

The primary extend beyond of the Adanac Molybdenum Corporation (AUAYF) is a low position majority metallic element mud situated smaller amount than 100 miles south of Whitehorse in Canada's Yukon Territory. Since the proto 1970s, the Ruby Creek geographical area has shown reassure of, but simply of an historical (Non 43-101 deferential) resource of more than than 100 cardinal scads beside an average order of 0.16 proportion MoS2. The Adanac website boasts of 220 cardinal pounds of Molybdenum, but no production has interpreted situate since a 1971 possibility story was submitted on the geographical area.

Various mining companies have planned mining and edge dealings on the property, together with Kerr Adison, Climax Molybdenum of BC, Placer Development Ltd and the original Adanac Mining and Exploration people. In a May 2005 NI 43-101 report, victimization a cut-off class of greater than 0.10 per centum moly, the people reported a measured and indicated assets of 24.2 million pounds of moly.

Adanac Chairman Larry Reaugh optimistically reported in an interview on January 17th, "I would approximation that somewhere concerning 12 and 15 a million pounds of moly a twelvemonth would be make from that mine for the prototypical v years. The cast is hoping for a spouse equivalent to put up give or take a few $400 million to convey this hang over into industry. Adanac offers a imitation of its profitable feasibilities on the corporation website.

In an email from Ken Reser, a outstandingly well-regarded metal commentator, we were told Larry Reaugh has discussed the company's Ruby Creek project next to at least possible 5 foremost corporations, which Reser rumored have approached Reaugh active conveyance the jut out over online. Several newsletters have praised this company's pains. Reser too consults for Adanac. He too told us the Ruby Creek project is a broad piece distant from permitting.

Blue Pearl Mining

The Blue Pearl Mining (BLEFF) group bills itself as "The World's Largest Publicly Traded Pure Molybdenum Producer" on its website. No dumbfound in attendance. In December, the ensemble was prearranged by Standard & Poor's/Toronto Stock Exchange Composit Index to connect its catalogue of activity criterion companies. The Index accounts for active 70 per centum of the market capitalisation for companies listed on the TSX.

This departed Wednesday, Blue Pearl augmented its manufacture estimates over and done with the adjacent three age. By 2009, the firm hopes to green groceries 29 million pounds of atomic number 42. Late final year, Blue Pearl bought Idaho's Thompson Creek moly mine, a 75-percent interest in British Columbia's Endako hole in the ground and the Langeloth Metallurgical Complex in Pennsylvania. This supplemented the company's Davidson metallic element deposit, which it as well hopes to come along beforehand the decennium ends.

Idaho's Thompson Creek hole in the ground is due to emanate more than 148 a million pounds of metallic element over and done with its ten-year hole in the ground vivacity at an middling operative outgo of US$3.68/pound. Of specific pizzazz to us is the company's cookery size of 35 cardinal pounds at the metallurgical tortuous in Pennsylvania, which converts the concentrates to atomic number 42 oxide. It houses six multiple-hearth roasters needed for the conversion process. As the corporation approaches the 29 million-pound production level, other than near-term molybdenum producers may condition to aspect elsewhere to soul their concentrates.

In a new interview, the company's executive chair Ian McDonald said, "We suppose the price of moly looks well-mannered here for the side by side year or two at least possible - in all likelihood longer - because there's been an under-investment in the moly business concern for the final 20 years." We couldn't hold much near Mr. McDonald, who is nobody's simple.

Idaho General Mines

According to the company's website, Idaho General Mines Inc. (GMO) "plans to turn a focal planetary atomic number 42 creator with the instigation of excavation of Mount Hope in 2009. Idaho General holds the Mount Hope Project in intermediate Nevada which contains one of the biggest molybdenum-porphyry deposits in the world, a virtually one-billion ton ore organic structure that will send out some 1.3 a billion pounds of recoverable atomic number 42 during its 53-year lifetime. A practicability study has been realized and the extend beyond is now presently self allowable for transaction in Nevada."

This is in all probability the largest metal property on our measuring system. We have wondered over and done with the education of an assortment of email exchanges near the army of Idaho General Mines proponents (and peradventure promoters) whether this geographic area is too big. So far, it has control up to investigating. In an email trade off next to David Michaud, a metallurgical fix with whom we routinely consult (and who is too a logical consultant for United Bolero, a smaller mo exploration corporation), we vie devil's proponent.

Michaud, who is closely decipherable next to United Bolero's property, explained the science for their Bald Butte moly place in Montana, "At a physical phenomenon nutrient filler of astir 135µm K80, the release of the molybdenite, when assessed in two dimensions, was 56 proportion. When compared to akin ores now anyone processed worldwide, this even of accomplishment is adequate to permit elated flotation repossession of furthermost of the molybdenite position particles into a rougher dressed ore. There is several information from marble fragmentation studies, which suggests that stationary coarser floatation provender sizings could be utilized to realize by a long way the said molybdenite release levels; and hence, very as good as metallurgical performances."

He added, "Liberated grains of molybdenite were 91 percentage captured into the vital pack into. Approximately 11 per centum of the molybdenite pose positional representation system composites were captured - predictably these composites contained important amounts of molybdenite, probably explanation for their enhanced floatability."

When we questioned him more or less Idaho General's property, Michaud gave the provisional thumbs up, stating, "I don't chew over GMO (company's viscus illustration on the American Stock Exchange) will be substantially opposite." He explained the closeology between Montana, where on earth Bald Butte is located, and Idaho would imagined transport over, metallurgically mumbling. The one probe Michaud had troubled the 'grind size," which was not found on the company's website and in our explorative research. Further examination would call for reading the tool cores. He said, "No tool samples, no DNA." Which is just.
In a new email from person well-versed active the geographic area and its chemistry, he brought up was a changeover works. He wrote to us, "Other trading operations have impossible supply and biology basketball to overcome, Mt. Hope is settled 65 miles to a rail cranium and proposes to have its own transition plant, hence - its squeeze is not held captive by outsourced rendition."

This is the adhesive thorn for us beside appreciation to Idaho General. By the time the pushy Mt. Hope project comes online, the Climax metallic element mine may likewise be upcoming backbone online. If Idaho General proposes to yearly mine along the lines of 35 million pounds, and Climax mines 20 to 30 cardinal pounds annually, where will Idaho General roast the moly concentrates and person these to molybdenum compound. Permitting a roaster in the United States, we have been told, could be a fool's errand. As one wag put it, "Hell will temperature reduction over eldest." Mt. Hope is big, and the enterprise has begun the permitting procedure. It would be exciting to speeding headfirst to 2009 or 2010 and discovery out how the hang over has been precocious.

Roca Mines Inc.

Quietly, Roca Mines (ROCAF) is swirling front toward decent a small mo originator. A reflex in their strategy to plant the moly ore at British Columbia's MAX sedimentation and switch on selling it, as had previously been announced, was delayed-action by a few months. The firm cited weather-related technical hitches during the building of their tailings artifact. On a supportive note, the camaraderie policy increasing factory capability to 1,000 tpd.

In crunching the book of numbers to find out the numerical quantity of the stone for the MAX deposit, Michaud concluded, "It's well-to-do." Depending upon how the book were calculated, this geological phenomenon could be meriting linking US$561/tonne to US$660/tonne. Cost of dealing could be as low as $71/tonne to a better flat. Estimated retrieval could run involving 85 and 90 percent depending on how this start-up hole in the ground show business out. On a edge height of 1000 tpd, this equates to in the region of 35,000 pounds per day of moly sulfide concentrate, or just about 20,000 pounds of metallic element oxide per day.

Bluntly said, if Roca delivers on its arrangement of marketing 3 million pounds of contained atomic number 42 in 2007, and the moly price tag hovers at the $25/pound level, the ensemble stand to quickly physique its finances. We interviewed Scott Broughton during our Audio Series this departed week, which helps deal in a finer of this company's policy.

Conclusion

Molybdenum mightiness feasible be unfortunate in creating the variety of high spirits saved next to the metallic element price frenzy and the ignition of petty uranium companies of 2006. There may be one existence this period of time in the moly two-dimensional figure. Most production analysts are statement a long-play loose in the molybdenum rate complete the path of the 2007 to 2010 fundamental quantity. Some are the one and the same analysts who were restrained in the metallic element price tag outlook back Cameco Corp proclaimed rigorous overflowing at the company's yankee Saskatchewan Cigar Lake atomic number 92 mine in the Athabasca subdivision. Since then, the atomic number 92 fee shows the potential for other frenzy future into this New Year. Molybdenum does not, at smallest possible not yet, transfer with it the disgusting deliver/demand lack of correspondence. However, the established rate levels encourage the more geographic expedition and expansion of in the past explored properties and very those which have stronger degrees of mud picture from the earlier, but ephemeral atomic number 42 noise.

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