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Gold/Mining/Energy : The Molybdenum Discussion Board -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (2890)	5/3/2007 10:39:07 PM
From: LoneClone	Respond to of 3267

Molybdenum supply is expected to get tighter By Staff Purchasing May 3, 2007 purchasing.com An already tight molybdenum supply situation has gotten much worse recently, sending spot molybdenum prices above $30/lb in mid-April because of threats of export controls by China and the launch of new exchange traded fund (ETF) in Canada. Beyond being used to strengthen steel used by the construction industry, molybdenum also is critically important to the energy drilling complex. According to Sprott Asset Management, a 5,000-foot oil well requires 50 tons of molybdenum-hardened steel to drill; a 15,000-foot well requires a whopping 1,100 tons. ResourceInvestor.com suggests that one of the biggest reasons moving the molybdenum price is the launch of the Sprott Moly Fund in Canada run by Sprott Asset Management. The ETF is expected to invest up to $100 million in moly-related equities and physical metal. Meanwhile, China, which supplies 20% of the world's molybdenum, wants to retain more of its metal production for domestic use—and plans to introduce a quota system for molybdenum exports. The quota system will only grant export perm

To: LoneClone who wrote (2890)	5/4/2007 12:24:18 AM
From: tcd	Read Replies (1) \| Respond to of 3267

I posted same on Investor's Hub today and Silicon Investor. This may be obvious to most who post on this thread but I may as well be obvious. Since Monday we all have noticed that the price has descended from last week's close on the CNQ exchange. The new exchange and its new MM's albeit, electronic trading, which someone had to program, is part of a game. Somebody is trying to accumulate. This morning the price dropped 3 cents - what's different from yesterday to today with ROXMARK - nothing. I put a sell bid in for a small amount and got my just dessert! All I can say is hold onto your shares. Somebody wants them badly. td