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Overview of Potential Primary Molybdenum Producers

A few young mo developers were brought to our concentration during our investigation in the metal flea market over the olden six months. Not all were integrated in this summary. We reviewed each and are reporting them alphabetically, not according to their virtues.

Adanac

The primary overhang of the Adanac Molybdenum Corporation (AUAYF) is a low form bulk metallic element alluviation set smaller quantity than 100 miles southeasterly of Whitehorse in Canada's Yukon Territory. Since the earlyish 1970s, the Ruby Creek geographical region has shown swear of, but simply of an liberal arts (Non 43-101 obedient) assets of more than 100 a million slews beside an intermediate form of 0.16 proportionality MoS2. The Adanac website boasts of 220 million pounds of Molybdenum, but no mining has understood situation since a 1971 capability word was submitted on the property.

Various mining companies have projected production and edge transaction on the property, plus Kerr Adison, Climax Molybdenum of BC, Placer Development Ltd and the unproved Adanac Mining and Exploration ensemble. In a May 2005 NI 43-101 report, using a cut-off position of greater than 0.10 proportionality moly, the friendship according a sounded and indicated resource of 24.2 million pounds of moly.

Adanac Chairman Larry Reaugh optimistically reported in an interrogation on January 17th, "I would approximation that location relating 12 and 15 a million pounds of moly a period of time would be produced from that hole in the ground for the eldest five time of life. The company is hoping for a better half to put up almost $400 cardinal to take this undertaking into manufacture. Adanac offers a duplicate of its profitable feasibilities on the band website.

In an email from Ken Reser, a extremely revered mo commentator, we were told Larry Reaugh has discussed the company's Ruby Creek extend beyond with at least five leading corporations, which Reser reportable have approached Reaugh almost conveyance the overhang online. Several newsletters have praised this company's pains. Reser also consults for Adanac. He as well told us the Ruby Creek hang over is a momentaneous time away from permitting.

Blue Pearl Mining

The Blue Pearl Mining (BLEFF) enterprise bills itself as "The World's Largest Publicly Traded Pure Molybdenum Producer" on its website. No take your breath away in that. In December, the firm was agreed by Standard & Poor's/Toronto Stock Exchange Composit Index to come together its detail of souk touchstone companies. The Index accounts for in the order of 70 proportion of the market writing for companies nominated on the TSX.

This ultimo Wednesday, Blue Pearl increased its industry estimates complete the next three geezerhood. By 2009, the camaraderie hopes to create 29 million pounds of mo. Late end year, Blue Pearl bought Idaho's Thompson Creek moly mine, a 75-percent go in British Columbia's Endako mine and the Langeloth Metallurgical Complex in Pennsylvania. This supplemented the company's Davidson metallic element deposit, which it besides hopes to grow beforehand the decennium ends.

Idaho's Thompson Creek mine is matter-of-course to give off more 148 million pounds of metal completed its ten-year excavation duration at an medium in operation outgo of US$3.68/pound. Of hard to please flavour to us is the company's roasting of 35 a million pounds at the metallurgical convoluted in Pennsylvania, which converts the concentrates to atomic number 42 compound. It houses six multiple-hearth roasters necessary for the shift modus operandi. As the institution approaches the 29 million-pound yield level, separate near-term metal producers may inevitability to facial expression elsewhere to somebody their concentrates.

In a new interview, the company's enforcement chairperson Ian McDonald said, "We dream up the terms of moly looks neat present for the adjacent year or two at least - in all probability long - because there's been an under-investment in the moly conglomerate for the concluding 20 time of life." We couldn't hold much beside Mr. McDonald, who is nobody's comedian.

Idaho General Mines

According to the company's website, Idaho General Mines Inc. (GMO) "plans to become a chief planetary metallic element manufacturer beside the instigation of excavation of Mount Hope in 2009. Idaho General holds the Mount Hope Project in primal Nevada which contains one of the largest molybdenum-porphyry deposits in the world, a about one-billion ton ore physical structure that will secrete roughly 1.3 billion pounds of recoverable metallic element during its 53-year period of time. A capability study has been realised and the hang over is now presently human being permitted for operations in Nevada."

This is belike the large mo geographical region on our measuring device. We have wondered over the programme of mixed email exchanges near the military service of Idaho General Mines proponents (and credibly promoters) whether this belongings is too big. So far, it has held up to scrutiny. In an email interchange beside David Michaud, a metallurgical somebody with whom we routinely inquire (and who is besides a methodical authority for United Bolero, a minor metallic element expedition people), we contend devil's somebody.

Michaud, who is intimately familiar with with United Bolero's property, explained the metallurgy for their Bald Butte moly geographic area in Montana, "At a physical phenomenon feed filler of going on for 135µm K80, the unrestraint of the molybdenite, when assessed in two dimensions, was 56 percent. When compared to twin ores now anyone processed worldwide, this even of achievement is enough to let celebratory physical phenomenon recouping of most of the molybdenite deportment particles into a rougher compact. There is quite a lot of evidence from stuff fragmentation studies, which suggests that still coarser floatation provender sizings could be used to win substantially the same molybdenite freeing levels; and hence, hugely as good as metallurgical performances."

He added, "Liberated grains of molybdenite were 91 proportion captured into the ultimate compact. Approximately 11 proportionality of the molybdenite stance binary composites were captured - predictably these composites contained indicative amounts of molybdenite, likely account for their increased floatability."

When we questioned him more or less Idaho General's property, Michaud gave the provisionary thumbs up, stating, "I don't have an idea that GMO (company's ticker symbol on the American Stock Exchange) will be by a long way assorted." He explained the closeology relating Montana, where Bald Butte is located, and Idaho would apt conveyance over, metallurgically speaking. The one cross-question Michaud had attentive the 'grind size," which was not saved on the company's website and in our early investigating. Further inquisition would dictate perusal the drill cores. He said, "No tool samples, no DNA." Which is do.
In a recent email from person enlightened astir the belongings and its chemistry, he brought up was a changeover processing plant. He wrote to us, "Other trading operations have undefeatable supply and biological court game to overcome, Mt. Hope is sited 65 miles to a guardrail head and proposes to have its own shift plant, thus - its compress is not control surety by outsourced paraphrase."

This is the viscous thorn for us near honour to Idaho General. By the clip the would-be Mt. Hope work comes online, the Climax metallic element excavation may also be upcoming hindmost online. If Idaho General proposes to every year mine along the lines of 35 cardinal pounds, and Climax mines 20 to 30 million pounds annually, where will Idaho General roasted the moly concentrates and somebody these to metal chemical 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 physical change ended primary." Mt. Hope is big, and the joint venture has begun the permitting manoeuvre. It would be remarkable to efficient gardant to 2009 or 2010 and breakthrough out how the task has been advanced.

Roca Mines Inc.

Quietly, Roca Mines (ROCAF) is wiggling pass on toward seemly a small molybdenum author. A physiological reaction in their diplomacy to manufacturing plant the moly ore at British Columbia's MAX sedimentation and start off commercialism it, as had once been announced, was abeyant by a few months. The business cited weather-related snags during the building of their tailings installation. On a practical note, the guests diplomacy increasing manufactory to 1,000 tpd.

In crunching the numbers to establish the good point of the natural object for the MAX deposit, Michaud concluded, "It's well-to-do." Depending upon how the numbers were calculated, this mud could be worthy linking US$561/tonne to US$660/tonne. Cost of dealings could be as low as $71/tonne to a high smooth. Estimated repossession could run between 85 and 90 pct depending on how this start-up mine the stage out. On a edge plane of 1000 tpd, this equates to roughly 35,000 pounds per day of moly sulfide concentrate, or nearly 20,000 pounds of atomic number 42 compound per day.

Bluntly said, if Roca delivers on its line of attack of selling 3 a million pounds of contained metallic element in 2007, and the moly asking price hovers at the $25/pound level, the cast stand to hastily physique its assets. We interviewed Scott Broughton during our Audio Series this knightly week, which helps present a improved of this company's diplomacy.

Conclusion

Molybdenum may well apparent be unfortunate in creating the form of joy found near the u terms mania and the discharge of subaltern uranium companies of 2006. There may be every being this yr in the moly two-dimensional figure. Most mining analysts are prediction a slow-going vagabond in the metallic element price concluded the class of the 2007 to 2010 time. Some are the same analysts who were guarded in the metal charge outlook up to that time Cameco Corp announced grave swollen at the company's northern Saskatchewan Cigar Lake u hole in the ground in the Athabasca corner. Since then, the metallic element rate shows the upcoming for extra fury coming into this New Year. Molybdenum does not, at most minuscule not yet, transferral next to it the irresistible secure/demand disparity. However, the contemporary rate levels win over the added exploration and advance of previously explored properties and very those which have stronger degrees of mud picture from the earlier, but ephemeral metal roaring.