Molybdenum Price Range
Moly prices still hovering above US$19.00 / lb
The known in-ground historic resource of 462 million lbs of moly at Ruby Creek is currently worth :
462,000,000 lbs X US$19.08 lb X $1.2570 exchange rate = C$11,080,404,720
That deposit could be much larger yet based on the last dill hole at the extreme west
edge of the resource defined by Adanac Moly Corp more than a decade ago.
Stuhini Exploration market cap is only :
24,162,776 shares O/S X C$0.60 = C$14,497,665
If Stuhini were to sell the Ruby Creek moly asset for only 1% of the current in-ground value of the deposit :
C$11,080,404,720 X 0.01 / 24,162,776 shares O/S = C$4.58 / share
That would be a good chunk of change to pass along to the shareholders and sink into a couple of good exploration drilling campaigns on the Que Project and the more recently acquired South Thompson Nickel Belt and Revelstoke properties.
After hitting US$20.03 on May 15, the price pulled back to $US$17.84 on July 23. On Sept 2 and 3 closed moly again broke through $20.00 / lb to close at $20.05 / lb, then pulled back to US$18.40 / lb on Oct 4 before starting to rise again and currently trading at US$19.13 / lb.
lme.com
It will be interesting to see the economics of the Ruby Creek Moly Project with regards to the metal's recent price range when the company gets the resources update in the next few weeks and months
GLTA ! |
