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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: LoneClone who wrote (36485)	3/21/2007 9:11:18 PM
From: LoneClone	Read Replies (2) of 78409

Moly Mines stock rolls upward on Spinifex Ridge molybdenum-copper plans Source: Canadian Press metalsplace.com Moly Mines Ltd. shares (TSX:MOL) continued rocketing higher Wednesday on hopes for the company's Spinifex Ridge molybdenum-copper project in Australia. Shares in Moly, headquartered in West Perth, Australia, but listed in Toronto as well as on the Australian Stock Exchange, rose 16 per cent Wednesday morning, gaining 42 cents to $3.05 on the TSX, up from $1.91 on Friday and $1.25 a month ago. The company announced last week that the state of Western Australia had granted 21-year leases which Moly said were "indicative of the continuing transition of the Spinifex Ridge project from feasibility to development." The leases total 20.75 square kilometres and cover the entire 469-million-tonne measured and indicated resource, with "strong support" from the aboriginal landholders. The announcement came as molybdenum, used in metal alloys, took hold in investor outlooks as offering gains similar to those recently seen in uranium. On Monday, Moly Mines announced a series of technical appointments to the management team at Spinifex Ridge which "highlight the calibre of the project and its ability to attract quality personnel, particularly during a period of tightening in the human resource markets for experienced mining professionals."

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