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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (30411)	12/16/2008 10:52:40 AM
From: LoneClone	Read Replies (1) \| Respond to of 193918

BROKER CALL China Molybdenum (HKG:3993) target cut to 2.70 hkd from 4.40 - Citigroup [Date:12-15-2008] chinesestock.org Citigroup said it is reducing its target price on China Molybdenum Co Ltd (HKG:3993) to 2.70 hkd from 4.40 on a weak commodities market. In a note, Citigroup said it is cutting price forecasts for the metal by 40-70 pct for 2009-2010. "Molybdenum is out of fashion, and the energy metal price has collapsed. The market moved into surplus from the third quarter. We don't expect supply cuts to be enough to offset weak demand," Citigroup said. Citigroup has a "sell" recommendation on the company. Hong Kong-listed China Molybdenum last traded at 3.32 hkd. (1 usd = 7.8 hkd)